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Discuss L3, Customer Segments

Discuss L3, Customer Segments. Agenda: Discuss Customer Segments (L3) Coming up: Report on Value Proposition (L2) Report on L3 Discuss Channels (L4). Deliverable Recommendations. Follow the format Answer all the questions Look for where you were WRONG

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Discuss L3, Customer Segments

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  1. Discuss L3, Customer Segments • Agenda: • Discuss Customer Segments (L3) • Coming up: • Report on Value Proposition (L2) • Report on L3 • Discuss Channels (L4)

  2. Deliverable Recommendations • Follow the format • Answer all the questions • Look for where you were WRONG • Meet ahead of time to discuss to plan so that you follow the lean startup process • This is not just a data dump • Good evidence and clear insights are the goal

  3. Types of Markets – They Matter • Clone Market • Copy of a U.S. business model • Existing Market • Faster/Better = High end • Resegmented Market • Niche = marketing/branding driven • Cheaper = low end • New Market • Cheaper/good enough, creates a new class of product/customer • Innovative/never existed before

  4. Market Type Market Type determines: • Rate of customer adoption • Sales and Marketing strategies • Cash requirements

  5. Who are you building this for? • Name, draw out, and describe the customer archetype of the payer (economic buyer) • Develop several very quickly – focus on #’s • Identify facts and demographics • Brainstorm common behaviors • Find needs & goals that your product will solve • Consolidate your ideas as a team • Of the many archetypes, focus on one • Identify key assumptions that, if wrong, will cause your business to fail

  6. Archetypes

  7. Multiple Customer Segments • Each has its own Value Proposition • Each has its own Revenue Stream • One segment cannot exist without the other • Which one do you start with?

  8. Customer Types Can you create an archetype for each?

  9. Customer Problem

  10. How Do They Interact to Buy? • Diagram it! • Organization Chart • Influence Map • Sales Road Map

  11. MammOptics Private practice purchasing decision tree

  12. Pass/Fail Signals & Experiments • How do you test interest? • Where do you test interest? • What kind of experiments can you run? • How many do you test?

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