consumer research: how to start a movement

Consumer Research: Starting a MovementAlbert Balcells | @balcells | albert@nextjump.com

January 29, 2014

• data & demographics

• the mechanics of collecting consumer research

ABOUT THIS PRESENTATION what we are about to tell you

IS NOT

• about – in our view – the most valuable things you can get out of consumer research

• some practical tips

IS

• Is getting others to follow you:- co-founders- customers- investors- advisors- partners- …

• You must truly believe in your idea and be authentic about it

• Example: the soccer app

THE ESSENCE OF CREATING A COMPANY early on

•When you create a startup, you are trying to create a movement

• You need 3 things:1. Faith

Believe you are solving a big problem, have a solution that others will care about

2. Tools Your products & services, your marketing, …

3. Stories

CREATE A MOVEMENT

Consumer researchParables about real people. Ex: State of the Union, the President uses stories extensibly to convey his points

5 practical tips

• To validate your idea, test your product with an actual person in mind

TIP 1: HOW DO I GET STARTED

Jenna, 34, my neighbor

VS.

Data. A generic segment

• Target real people and not “segments”• Example: Overwhelming Offers

•Many people “hide” their idea• Those who don’t, validate it with friendlies• 99% of the time you will get lukewarm responses• Go to “difficult” people instead

TIP 2: THE YOU +1 FRAMEWORK

You don’t need a sample of thousands to startOr a focus group frenzy

The you +1 framework

• You don’t need to build a lot to test• Examples of ways to get started:

TIP 3: GUERRILLA TESTING

a) Paper Mocks b) Google Adwords

• If you truly want to understand how well consumers react to your product…

TIP 4: THE RESEARCH ENVIRONMENT

The mom with a screaming baby

ALTERNATE: Grand Central at rush hour

TIP 5: DON’T BE AFRAID TO LEARN FROM OTHERS

Don’t be afraid to learn by copying others

A simple framework: established players vs. newcomers

• Your goal is to

YOUR ULTIMATE GOAL

1 10 100Create fanatics

Those who Like vs. Love your brand/product

• Fanatics drive the success of a business• You want to find out what they love and hate• Customer research should uncover their stories

• The stories will shape your product

Thank YouConsumer Research: Starting a Movement

Albert Balcells | @balcells | albert@nextjump.com