lecture 12: customer creation - part ii

Duke ECE 490L: How to Start New Ventures in Electrical and Computer Engineering

Poornima Vijayashankerpoornima@femgineer.com

Jeff Glass jeff.glass@duke.edu

Akshay Rautar118@duke.edu

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Review

Duke ECE 490L

• Customer Creation

• Concierge MVP

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Idea Summary

Review Session:Wednesday October 23, 2013

DUHatch

Sign up for a session here!

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Agenda

Duke ECE 490L

• Feedback Collection

• Customer Case Study

• Demand Creation Activities

• Exercise

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Duke ECE 490L

Customer Discovery Validation Customer CreationBusiness/Company

Formation

Early AdopterPricing Product

Distribution

Mainstream AdoptersMoney for Marketing

Market Research

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Duke ECE 490L

Customer Discovery Validation Customer CreationBusiness/Company

Formation

Early AdopterPricing Product

Distribution

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Duke ECE 490L

Questionnaire.

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Identify prospects.

Send out survey.

Check # of responses.

Who didn’t respond?

Who did respond?

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Duke ECE 490L

Identify prospects.

Send out survey.

Check # of responses.

Who didn’t respond?

Who did respond?

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Duke ECE 490L

Why?

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Drill down further.

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Ask for referrals!

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Keep track of case studies and testimonials.

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How to Do a Customer Case Study

Duke ECE 490L

• Who are they?

• Why did the pick you?

• How did your product benefit them?

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Persona.

Testimonial with name and picture.

Full story.

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Multiple user segments?

Showcase each.

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Stories of existing customers attract others just like them!

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Bake your brand recognition into your product.

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Case Study #1: Olark

Duke ECE 490L

• Live chat

• Widget on homepage of websites

• Builds virality through frequent recognition

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Inbound interest comes from demand creation activities.

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Demand Creation

Duke ECE 490L

• Market adoption v. Market share

• Education

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Educate Each Group

Duke ECE 490L

• Experts

• Connectors

• Earlyvangelists

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Techniques

Duke ECE 490L

• Experts: need to understand the unique value proposition of your product.

• Connectors: need to know most relevant connections, and a way to leverage their existing networks.

• Earlyvangelists: make the message memorable for them to convey.

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Case Study #2: Mint

Duke ECE 490L

• Experts: Suze Orman

• Connectors: financial bloggers and badges.

• Earlyvangelists: sharing infographics.

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What if you’re segments change?

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DESTROY EVERYTHING!

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Duke ECE 490L

Remember the definition of positioning?

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Duke ECE 490L

Image in the mind’s of prospects and customers.

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Duke ECE 490L

Exercise!

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Review

Duke ECE 490L

• Feedback Collection

• Customer Case Study

• Demand Creation Activities

• Exercise

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