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Beyond The Early Adopter
@craigstrong
@LeanPLC
● Approx 40,000 employees worldwide
● Institutional sales & print background
● The world’s largest publisher and education company
● Operates in over 80+ countries
● Growth through acquisition
● 170 years old
Product Lifecycle
Product Age Young Mature
Status Before Market-Fit After Market-Fit
Focus Searching for a Business Model Executing Against Business Models
Duration Days Weeks Months <1 Year Years
Metrics
Customer Discovery, Innovation Accounting,
Lean Analytics, Pirate Metrics Revenues, Profit-Margins, ROI, IRR, NPV
Product Lifecycle
A Nonlinear Process
Learn Build
Measure
Search and Execution are different
Early Adopters / Early Majority
https://flic.kr/p/cZEh9J
NOT
EVERYBODY
IS YOUR
CUSTOMER!
https://flic.kr/p/cZEh9J
Strategy Is Key!
Idea Explore Validate Grow Sustain
Geoffrey Moore’s ‘Crossing the Chasm’ diagram
Circa 1991
Smaller
chasm
Innovators Early
Adopters
Early
Majority
Late
Majority
Laggards
The Big
Scary
Chasm
in
Question
Customer
(Early Adopter)
Market
(Early Majority)
Product Lifecycle
Status MVP Scaling
Focus Early Adopters Early Majority, Late Majority, Laggards
Duration Days Weeks Months Years
Metrics
Customer Discovery, Innovation
Accounting, Lean Analytics, Pirate Metrics Revenues, Profit-Margins, ROI, IRR, NPV
Scale NO YES
Beyond The MVP
MVP
Early Adopters
Early Majority
Higher
Product Expectations
Recognise Differences To Satisfy Needs
Learn Build
Measure
Growth Is An Assumption
New Market = New Geography or
Customer Cohort
Negative/Positive
change
New Product/Feature =
Customers Trump New Leads
?
https://flic.kr/p/k7xw5y
https://flic.kr/p/c1oRoG
Early Majority Non-Scaleable Interactions
https://flic.kr/p/5ueUT6
Recognise Traction And Opportunities
https://flic.kr/p/56Ui5
Quarterly
Hypotheses
Product
Metrics
Strategic
Growth
Hypotheses
Political
Economic
Social
Technological
Legal
Environmental
Short Term
Performance
Long Term
Growth
● NPS/CSAT/Ratings
● Acquisition
● Activation
● Retention
● Revenue
● Referral
● Refunds
● Engagement Metrics
● Support
● LTV
● Growth capability/performance
(technology)
● Learnings!
● More +
● NPV
● IRR
● Market Share
● ROI
● LTV
● Competitors
● Learnings !
● More +
Learning As You Grow
https://flic.kr/p/4NhZT8
https://flic.kr/p/yVfd4Y
Know Your Growth Engine
1. Paid
2. Sticky
3. Viral
Sticky - Cost Of Switching Is High
Sticky - Cost Of Switching Is High
Adding New Features? Is this
increasing Stickiness?
Stay Connected
5-10x
MORE
It costs 5-10x more to acquire a new
customer than retain an existing one.
Beyond Early Adopters
1. Be clear who your customers are/aren’t
2. Growth is an assumption, but you need a
strategy
3. Early Majority want more than a just a product
4. Data is King! It’s all Relative
5. Customers Trump New Leads
Thank You
@craigstrong
@LeanPLC

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