Reaching and Measuring!

Nikos Palavitsinis, Agro-Know

500. Channels & Metrics

Lean AKademy, Mar-Apr, 2014

501. Report of Interview Results

• We put the LC on the wall again

• Practical problems? How were your interviewees? Document their characteristics

• Product Risk– What are you solving?

• Market Risk– Existing Alternatives

• Customer Risk– Is this a viable customer segment?

Lean AKademy, Mar-Apr, 2014

502. How Interviews Affect our LC

• This is the time to put the new input on the canvas

• Can we start thinking in terms of demo?

• What can we produce as a solution too pitch in the next phase of our Lean AKademy?

Lean AKademy, Mar-Apr, 2014

503. Using Channels

• How does the product get from the company to the customers?

• Physical channels

– First companies, sales representatives

• Web & mobile channels

– New technologies

Lean AKademy, Mar-Apr, 2014

503. Using Channels

Product/Channel Bits/Virtual Physical

Bits/Virtual Facebook, Twitter, Google

Insurance, stocks,software

Physical Shoes, books, consumer electronics

Cars, food, utilities, etc.

Lean AKademy, Mar-Apr, 2014

504. Identify your Channels

• Is your product virtual or physical?

• Will your channels be direct or indirect?

• Web distribution– Dedicated e-commerce site

– Platform, app-store (itunes)

– 2-step distribution (amazon)

– Aggregator (vertical market approach)

– Social commerce (Facebook)

– Flash sales (Groupon)

Lean AKademy, Mar-Apr, 2014

504. Identify your Channels

• Don’t pick all of them…

• Physical distribution

– OEM (Intel, Nvidia)

– System Integrator (devices + software)

– Value-added reseller

– Direct Sales Force

– Web/online sales (telesales)

– Distributors to dealers or retailers

Lean AKademy, Mar-Apr, 2014

504. Identify your Channels

• Solution VS Marketing Complexity

• Each channel can handle different levels of complexity selling the product

• Each channel adds different value to the product as they promote it to the market

• The higher value added, the higher the cost that comes for the seller

Lean AKademy, Mar-Apr, 2014

Lean AKademy, Mar-Apr, 2014

505. Vanity Metrics (not!)

• Acquisition

– The point where an unaware visitor turns into an interesting prospect

• Activation

– The point where the customer has the first gratifying experience

Lean AKademy, Mar-Apr, 2014

505. Vanity Metrics (not!)

• Retention

– Repeated use/engagement with your product

• Revenue

– Events that get you paid

• Referral

– Customers refer your product to others

Lean AKademy, Mar-Apr, 2014

Dave McClure – Pirate Metrics

Lean AKademy, Mar-Apr, 2014

506. Identify your Metrics

• How are you going to measure the performance of your product?

• Can we measure some metrics for this phase of product development?

– X interviews

– X problems identified

– X solutions/alternatives identified

Lean AKademy, Mar-Apr, 2014

507. Takeaways & Assignments

• Let’s spend some time to reflect on our work today

• How did our LCs change?

• Do we have a different outlook on our initial hypotheses?

Lean AKademy, Mar-Apr, 2014

507. Takeaways & Assignments

• Refine your canvas some more… Look at the channels & metrics identified

• Prepare new interview forms and reach out to new interviewees!

• Conduct new interviews and prepare your input for the next time…

Lean AKademy, Mar-Apr, 2014

Questions?