lean launchpad itp 3.3.2014
DESCRIPTION
Customer relationships, the relationships bowtie funnel, and partnersTRANSCRIPT
Class 5 / 12
March 3, 2014
Jen van der Meer | jd1159 at nyu dot edu
Josh Knowles | chasing at spaceship dot com
LEAN LAUNCHPAD AT NYU ITP
Rockets Sketches borrowed from Harry Allen Design
6:00 – 6:30: Working through Customer Relationships and Partnerships
6:30 – 7:00 Guest Speaker Travis Hardman
7:00 – 7:15 Break
7:15 – 8:15 Teams Present
8:15 – 8:30 Dev Planning w. Josh
8:30 – 8:55 Guest Speaker John Bachir
TODAY:
.
WE ARE HERE
1/27Business ModelsCustomer DevelopmentUX Tools Intro
2/3Value PropositionUX Tools, Frameworks
2/10Customer SegmentsResearch Tools
2/17President’s Day
2/24Revenue StreamsDistributionProduct Definition
3/3Customer RelationshipsPartners,Product Development
3/10 Resources, Activities, Costs,Product Development
3/17Spring Break
3/24Customer DevelopmentProduct Development
3/31Customer DevelopmentProduct Development
4/7Customer DevelopmentProduct Development
4/14Customer DevelopmentProduct Development
4/21Product MVP
4/28Lessons Learned
What are the 3 components?
Get
Keep
Grow
(The most important hypothesis)
CUSTOMER RELATIONSHIPS
What’s their role
Who are they
How do they buy
What matters
What pain is being solved for them
CUSTOMER ARCHETEYPES
CUSTOMER RELATIONSHIPS: DIGITAL
CUSTOMER RELATIONSHIPS: PHYSICAL VS DIGITAL
STRATEGY + TACTICS
Physical Digital
GET Strategy: Awareness, interest, Consideration, Purchase
Tactics: Earned Media, paid media, online tools
Strategy: Acquire, activate
Tactics: Websites, appstores, search, email, blogs viral social nets, reviews, pr, free trials, home/landing page, webinars
KEEP Strategy: Interact, Retain
Tactics: Loyalty programs, product updates, customer surveys, customer check-in calls
Strategy: Interact, retain
Tactics: Customization, user groups, blogs, online help, product tips, bulletins, outreach, affiliates
GROW Strategy: New revenue, referrals
Tactics: upsell, cross sell, referrals, unbundling
Strategy: New revenue, referrals
Tactics: upgrades, contests, reorders, refer friends, upsell, cross sell
THE VIRAL LOOP
How much will it cost us to get an “activated” customer?
“CAC” is cost of all of your sales and marketing expenses over a given period of time, divided by the number of customers acquired in that window.
Why this is valuable – test different tactics against each other, and understand how to create a customer acquisition system with you at the help of the inputs.
CUSTOMER ACQUISITION
The viral co-efficient: the average number of invitations sent by each existing user times the conversion rate of invitation to new user. The viral coefficient is referred to as the K value.
THE MAGIC ACCELERATOR: THE VIRAL LOOP
Lean Analytics, Alistair Croll, Benjamin Yoskovitz
SAAS CUSTOMER LIFECYCLE
14
Strategic alliances
– Social media software and WPP, Omnicom, Publicis
Joint new business development efforts
– Intel inside, Retail co-ops
Co-opetition
– Industry week (adweek, fashion week)
Key supplier relationships
– Historical relationship between Microsoft, Dell, and
PARTNERS
Hypothesis to get:
Acquisition
Activation
What is your hypothesis to keep:
Outreach
Events
Loyalty
Product updates
What is your hypothesis to grow:
Upsell
Cross-sell
Next-sell
Referrals
WHAT WILL YOU TEST?
17
WHAT CAME BEFORE STEVE AND ERIC
FOR NEXT WEEK3/3/14
.
NEXT WEEK PREP:
Watch Lecture on Activities, Resources and Costs
Read: Business Model Generation 226-261.
Presentation:
· Cover slide
· Latest version Business Model Canvas with changes marked
· Results of last week’s experiments. What passed, what failed, what did you learn?
· Proposals for next week’s experiments. What constitutes a pass/fail signal for each?
NEXT: CANVAS REVIEW AND FEEDBACK
APPENDIX
Jen van der Meer, Adjunct Professor at ITP since 2008 ITP courses + workshops: Bodies and Buildings, Products Tell Their Stories, ITP VC Pitchfest, . Currently: Luminary Labs, Angel Investor, Health Data Challenges, Judge for startup competitions, + SVA PoD
Josh Knowles, ITP ’0715+ years as an independent developer/consultant, working with numerous brands and start-up clients (currently under the aegis of Frescher-Southern, Ltd.)
ITP TEACHING TEAM
STUDENT TEAMSTeam Name School
Cognitive Toy Box Lindsey Jones Stern
Tammy Kwan Stern
Hsiang Huang Stern
Alternative Monuments Rodrigo Derteano ITP
Maximo Sica ITP
Ajejandro Puentes ITP
Alon Chitayat ITP
NYBL Sam Slover ITP
Shilpan Bhagat ITP
Max Ma ITP
DiscoverEd Sergio Majluf ITP
Su Hyun Kim ITP
Christina Yugai Stern
Yuliya Parshina Kottas ITP
Advanced Expression Rose Meacham ITP
MENTORS + TEAMS
Tom Igoe @tigoeITP, Arduino, Making Things Talk, NYU ITP Pitchfest
Alternative Monuments
Julie Berkun Fajgenbaum @julieFStern Adjunct Professor, Former VP Amex Open, now startup co-founder
NYBL
Michael Levitz @michael_levitzITP grad, R/GA, Lean
DiscoverED
Sarah Krasley @sarahkrasleyAutodesk, Sustainability, Berkeley
Advanced Expression
Chris Milne @greedo1000IDEO, Toy Lab, Stanford, LEGO
Cognitive Toy Box