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Cam Davies - Sizing, Growing, and Evolving Your Market
- 1. SIZING, GROWING AND EVOLVING YOUR MARKET CAM DAVIES MIOVISION @camdavies
- 2. OUR CITIES HAVE A PROBLEM
- 3. 1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 GROWTHRATE GROWING GAP
- 4. CITIZENS AND CITIES INTERACT MORE ON ROADWAY NETWORKS THAN ANYWHERE ELSE
- 10. BILLIONS SPENT EVERY YEAR $90B+ IN THE UNITED STATES
- 11. GUT FEEL
- 13. SOUND FAMILIAR?
- 16. HYPE CYCLE Internet of Things
- 19. It’s just how we do it. Plus, people shoot things.
- 20. We’re sorry, but you need to fill out an application to apply. It was due yesterday.
- 23. FUNNY HA HA FUNNY HA HA
- 24. WHERE DO WE START? HUGE OPPORTUNITIES.
- 25. CREATING INFORMATION WE COULDN’T IGNORE HOW FAILURE HELPED US FIND THAT INFORMATION INCREMENTAL STEPS VS. BIG RISK, BIG REWARD
- 26. Traffic Bounce Time on Site Pages Viewed Form FillsOpen Rate CTR Re- tweets Likes Comments List Size Lead Score Downloads Page Rank Keyword Rank Impressions Event Traffic Media Pickup Funnel Velocity Are we going to hit our number?
- 27. What should the number be?
- 28. DON’T BE A NAVEL GAZER EXTERNAL METRIC STRATEGIC THINKING SHARED WORLD VIEW
- 29. TOTAL ADDRESSABLE MARKET (TAM) THE WHOLE POTENTIAL MARKET SERVICEABLE AVAILABLE MARKET (SAM) REACHABLE MARKET SHARE OF MARKET (SOM) CURRENT REVENUE
- 30. WHAT IF ANALYSTS DON’T TRACK YOUR MARKET?
- 31. CASE STUDY Hey Cam, Sales reps tell me we’re plateauing. What are we doing to hit revenue this year? Next year? Director of Sales
- 32. CASE STUDY My model tells me we’re on pace until the end of time. Is there a risk to revenue this year? Next year? Financial Controller
- 33. WHAT IF ANALYSTS DON’T TRACK YOUR MARKET?
- 34. WHAT INFORMATION DO WE NEED? SIMPLIFY INPUTS MAKE ASSUMPTIONS CALCULATE BACKUP QUICK QUERY HUMILITY REVEAL ADJUST
- 36. RESULTS Shared World View Shared Priorities New Campaigns Tracking the Market Bottom-up Forecast Identified Plateaus Uncovered Opportunity Information we Couldn’t Ignore Common Language
- 37. EVOLUTION OF THE PRODUCTS EVOLUTION OF THE COMPANY
- 39. INFORMATION WE COULDN’T IGNORE WHO HOLDS THE BUDGET? 50% MARKET SHARE EVOLUTION NEEDED
- 40. AIR TRAFFIC CONTROLLER OF THE MARKET ABSORBED THE MARKET SET THE PRICES VALIDATED THE PRODUCT WHAT DID WE LEARN?
- 41. ORCHESTRATOR OF THE MARKET CO-CREATE VALUE SHARE SUCCESS INCREMENTAL INSIGHT
- 43. DYNAMICALLY IDENTIFY PROBLEMS TRACK PROJECTS TO PLAN PROJECT UPVOTING VIRTUAL TOWN HALLS OPEN DATA GET DATA TO THE DECISION MAKERS
- 44. TRY FAIL SUCCEED
- 46. WOOD BUFFALO, AB 1:00PM | SYSTEM OFF
- 47. WOOD BUFFALO, AB 1:05PM | SYSTEM ON
- 48. WHAT DID WE LEARN?
- 51. INFORMATION YOU CAN’T IGNORE IF YOU’RE NOT FAILING, YOU’RE NOT TRYING INCREMENTAL, COLLABORATIVE STEPS THANK YOU.
Editor's Notes
- Kurtis counted cars, witnessed the industry The future? There had to be a better way Accept traffic? MODERNIZE INTO 21ST CENTURY
- - After WWII, traffic infrastructure - 80's population diverged - 2007 cities > rural. - Cities can't keep up with growth
- Why traffic? Physical networks. Pain felt here with LRT ^ housing + non-residential + post-secondary Important part of how cities interact + politicians
- Last couple decades, huge innovation Strictly following Moore's law - and still going Forgot vendors in the traffic industry
- modern cities and modern marketers aren't so different
- cities trying to connect physical world + responsive + predictive meanwhile, millions of datapoints from citizens Overwhelmed, understaffed = lockdown RESIST - this is where the magic happens
- modern marketers have a similar problem thousands of tools, more in my inbox every day (sorry Uberflip) challenge is making sense challenge is finding focus challenged to do right for your business
- for both, data sits in disparate systems As a marketer, I struggle to wrap my head around the connections Missing opportunities for better marketing and more deals For cities, the problem is worse and affects billions
- In the United States alone, billions every year $90B JUST TO MAINTAIN US GOV long term 6yr transportation bill Only funds first 3 years Revenue streams drying up, no politician wants to raise taxes
- many decisions are left to GUT FEEL seasonality +3% increase per year under and overbuilt infrastructure, signals new record 3B gallons of fuel, 7B hrs, 42hrs (2x), $160B
- What’s worse Difficult to tell how effect $$ spent More pouring in every year
- As a miovision-er As a citizen and driver As a parent of the next generation what are we leaving for our kids?
- what happened to the future? traffic was supposed to be solved our houses automatically cleaned ...hasn’t exactly materialized as predicted
- past us were ambitous - caught up in expectations "they're working on it" - definitely not the government In traffic, IoT is the hot topic that will solve all problems
- as citizens of the world, we create responsible solutions let's have a look
- mark andreesson said software is eating the world I think we're on the doorstep of IoT eating the world we need to be responsible
- Let's get back to traffic first started at Mio Mississippi - load guys into suburban charge 2.5x labour it's just how we do it
- What about closer to home? Toronto victim to shady data collectors Same contract awarded every year Engineers and planners expect +3% - Low and behold... John Tory rallies against clickers and clipboards in 2015
- huge opportunity for Miovision and other tech solutions
- We can’t just go in guns blazing People and govs passionately resist change we’ve seen examples of private companies trying to disrupt the government from the outside-in
- The set-up for what marketing can do
- marketers we use digital signifiers to attribute value to our work there's no shortage they all lead to the same thing hint: it's not page metrics or email open rates
- not funnel metrics only not pipeline value tactical & incremental, not transformational need to look outside of the company - strategy - world view - what's the external metric
- market penetration OR market share not 1% penetration into China real, measurable, and actionable measures where you are, what's available, plan to get there – even when you’re inventing something SAM your slice of TAM - what are you resourced to do?
- it's november coming off of consecutive growth years sales is killing targets but, starting to feel a change in the market two stakeholders + mgmt, mktg, sales teams
- shit
- Dave Franco here has the answer Lots of tribal knowledge lots of opinions every "fact" could be refuted needed a common number Need to develop model of the market How to make it believable? Top Down + Bottom Up
- carve out territories spend hours 1:1 with sales reps what changed? - for the first time, marketing had data - marketing lead conversations - marketing could challenge opinion - together, we could identify knowledge gaps and opportunities
- Key piece of data DIRECTLY INFLUENCED A NEW PRODUCT INDIRECTLY INFLUENCED AND PUT PRESSURE ON ANOTHER WE WERE IN A PRESSURE COOKER
- Story about information and product evolution
- 50% yay 50% crap we want to grow who really holds the budget grab more of the value chain
- how do you get the most impact? launched Traffic Data On Demand we killed the product (kindaf - unneeded friction - becoming services company - detracting from core competency
- would rather be coach than air traffic controller created connective software Connected, surfaced information, opportunities for extension to public dashboards, APIs, open government, democratization of data
- we started out as vendor in the marketplace saw opportunity in the network and workflow Network Orchestrators create network of peers Bigger than one company - rely on other people's assets, knowledge, relationships Uber, Air BnB, eBay
- Only by working together can we realize the full potential that data can provide to cities Cities can’t do it alone, and neither can we
- Second story about product evolution
- Concept is simple, implementation is incredibly hard pretty cool right Connect lights to the internet Use AI to let them speak to each other Never wait for a red light again Working prototype in Kingston -20% delay during rush hour
- Second deployment site Wood Buffalo, incredible population growth from Ft. McMurray Lots of big pick-up trucks spitting exhaust Completely gridlocked “downtown” twice per day Hung out with engineer, showed me around city, insanely busy, lunch at BK
- Shit Worked in theory didn’t work in reality Software would work, just a few bugs trust on shaky ground new term for "Production" - No chance to "stage"
- Solving a “self actualizing” problem Incredibly political sale - great flow, but politician wanted advanced left Lots of top-of-funnel interest Things lower in the value chain to solve first incrementally
- Solve urgent and pervasive problems first incremental improvements When you’re in, you’re in sales in every territory RoW quoted in Star
- what was the biggest lesson that we learned invest invest invest, and trust for a single moment in time that it pays off customer first Important lesson: BIG RISK, BIG REWARD COMPANY. THIS IS ALSO THE APPROACH BY IBM, CISCO, AND THE OTHER HUGE TECHNOLOGY PLAYERS.
- marketers, as with cities, need: information we can't ignore we need to try, fail, succeed in the new economy, we need to collaborate