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| Date post: | 17-Jul-2016 |
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| Upload: | founder-institute |
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Kneebone.com
• B2B SaaS • Marke@ng Performance Management PlaDorm
– Industry research not customer research
• Patented Algorithm – Product focused, not customer focused
• ROI – For companies, not for customers
The mistake: customer disconnect
Corporate Community Customers
Industry, Product Research
“Buy our patented B2B SaaS”
“Deliver ROI”
“Simple way to do my job”
Research is relevance.
Community of peers, influencers and advocates
Customer-led product dialogue
Customer Research
“No story in this data”
“Facts and feelings together”
“Share a story”
What makes research an asset?
• Relevance – Ready customers
• Trac@on – Ready to convert
Ready Customers
• Studybucks – 500 parents surveyed of Children 6-‐16 – 68% have children with math challenges – 44% would reward kids for math prac@ce – 28% signed up for beta
Personas
• Personas provide the blue print – A way to show relevance and build a community – A way to model trac@on and build new paths to customers
Desperate Parent!
• One or two parents work hard, white, pink, blue collar"• Have more than one kid aged 8+"
• HHI $100k+ "• Urban suburban"• 35-54"• Stretched with school and sports expenses"
• Busy and Exhausted"• Looking for adult time "• Facebook, email"
Desperate Parent!
• Kids safe and educated"• Me time"
• Expensive options for tutors"• Too much homework supervision required"
• Get math help for your child disguised as a gift card.. "
Desperate parents!
• It’s just another expense. "
• If I could teach my kid math, I would, but I can’t. "• We don’t have time for tutors. "
Desperate Parent!
• Math is one of those things that takes a lot of practice. If youi don’t want to nag your kid into submission, try a gift card. "
• Now you can buy a gift card that makes math easy for you and your child. "
Research is Trac@on
• 177 parent clicks to the website • 63 visits to the checkout • 45 selected an item
• 29 entered their personal info • 5 purchased • Acquisi@on $70/5 = $14
Over Parent!
• Owner/Manager"• Family is business"
• 29-54"• 60k+"• Urban Suburban"
• Highly competitive"• Organized "• Text and voice"
[you type here]!
• Success metrics"• Stature"
• Student compliance"• Weak student"
• Guaranteed Math practice for stubborn students. "
overparent!
• Won’t pay kids to improve math skills. "• Already paying a tutor. "
• Homework is my childrent’s job. Good grades are their pay. "• I put a lot of pressure on my children. They have to learn how to deal
with it. "
[you type here]!
• Studybucks gives your child the edge they need to be a self directed learner. "
• It exposes them to a pay for work paradigm""
• Buy a studybucks gift card to test your childs math skills and teach them how to earn, save and propser. "
Auntie or Uncle!
• Mid-level manager"• No kids "• Uses tech in work"
• 25-49"• 45k+"• City/suburban"
• Lots of screen time"• MMS"• Instagram"
Auntie or Uncle!
• Be the cool uncle or aunt"• Help out (a bit)"
• Don’t really want to get involved"• Have no time"
• Let them substitute time with money"
[you type here]!
• Concerned kid won’t follow through"
• Kids are a lot of work.They never like anything I get them, it’s a waste of money."
Auntie and Uncle!
• The perfect gift for the kid that has everything (except a fundamental understanding of math). "
• Studybucks is the gift card I can relate to…it is guaranteed to convert to two things; math skills and shopping satisfaction. "
Studybucks.com
Research to get your Creden@als ready
• Market Valida@on – Desk Research
• Declining Math Scores in North America
• Expert Valida@on – Advisor selec@on, Network and Referral
• Jump Math Founder, John Mighton, PhD
• Peer Valida@on – Channel partners and Affiliates
• Tutoring Companies
Fini@a@ve …
• Research doesn’t kill ideas, fear and laziness does. – Any research is befer than no research
• How many people have you talked with? • What did you learn? • What will you change? • Did you follow through? (only you will kill your idea)
Every day is a research day.
• Early stage research is the way to build your creden@al to go for financing or go to market. – Research IS Customer Strategy
• What defines the customer opportunity?
– Research IS Team Strategy • What is the winning combina@on of subject mafer experts and opera@onal excellence for customer confidence?
– Research IS Product Strategy • What is the simple and effec@ve customer experience?
– Research IS Compe@@ve Strategy • How do you own and sustain customer relevance?
Become an expert at Bad Research.
• Ambiguity: – If it’s not yes it has to be no
• Bias: – Use Persona filters, not your own.
Ask Good ques@ons. Get Good creden@als.
• Provoca@ve research is good research: – has a focus, – is memorable, – and will build an asset
Become an expert at good research.
• Would I give me money for this? – Good research needs to demonstrate that you are focused on delivering a viable business, not just valida@ng your idea
– Even if you plan on bootstrapping and using non-‐dilu@ve financing, you need to build the discipline of asking good ques@ons
• Fail faster • Succeed with Insight
Create an asset
• Own the research • Own the customer insight • Own the market opportunity
Show Fini@a@ve
• Early stage: – Interviews: 3 per week
• 1 on 1 conversa@ons, paired interviews, focus groups • Be able to name names or @tles • Result: Persona development
– Desk Research: 3 hours per week • Customer for innova@on (thought leaders and community of interest and engagement)
• Are they ready (execu@ve sponsor, influencers, users) • What are they buying now (value prop/compe@@on)
The next stage
• Aper you have done your founda@on studies Research is – Market Valida@on – Adver@sing and Promo@on – Performance Management
Every day is a research day.
• Everything you do is research. • All research is promo@on.
• Research is a way you tell people that you are serious. • Research is a way to demonstrate your creden@als • Research is a way to prove that you are coachable.
