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© 2014 The Chasm Group, LLC
Achieving Escape Velocity Transforming Visionary Ideas into Mainstream Businesses
© 2014 The Chasm Group, LLC
The New Normal – Speed and Change
• Speed of technology advances
• Device and pla5orm prolifera8on
• Evolving consumer
• More big data, be>er data analy8cs
• The Internet of Things
• Speed to success, speed to failure
• Systems of engagement on fire
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© 2014 The Chasm Group, LLC
WHAT’S HOT • Consumer hardware
– Wearables – Car tech – Home Connec8vity/Automa8on – 4K TVs
• Consumer soLware – DraLing established pla5orms/categories – App Stores: MicrosoL, Salesforce, Apple…
WHAT’S NOT
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© 2014 The Chasm Group, LLC
What Do Speed and Change Mean To You
EARLY STAGE • How do you quickly create a new
category, or re-‐invent one? • How do you challenge incumbents?
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Move fast but not haphazardly Employ compasses and models Focus and discipline
THE NEW RULES
ESTABLISHED MAINSTREAM • How do you balance current and future
businesses? • How do you neutralize compe88ve
upstarts? • How do you make the right acquisi8ons?
© 2014 The Chasm Group, LLC
“If you don’t know where you’re going, you’ll end up someplace else”
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© 2014 The Chasm Group, LLC
1. Target Consumer
2. Compelling Reason to Buy
3. Whole Product
4. Partners & Allies
5. Sales Strategy
6. Pricing Strategy
7. Compe88on
8. Posi8oning / Messaging
9. Next Target
Key sponsor
Complete solution
Manages sales & Fulfillment complexity
Legitimate alternatives
Next growth segment
Key motive
Fill in the gaps
Maps to all the above
Core differentiation
Market Development Strategy Checklist
© 2014 The Chasm Group, LLC
Product – Market Fit: Three Core Strategic QuesNons
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TARGET MARKET
Big Enough To Ma>er
Small Enough to Win
Fit With Your Crown Jewels
1 COMPELLING REASON TO BUY
Rooted in consumer use case
With real perceived value
2 WHOLE PRODUCT SOLUTION
Aligned against a defined need/want
Fully sa8sfying the compelling reason to buy
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© 2014 The Chasm Group, LLC
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© 2014 The Chasm Group, LLC
ü Energy Savings ü Consistent Home Comfort ü Self learning
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Nest Labs Product -‐ Market Fit: Three Core Strategic QuesNons
COMPELLING REASON TO BUY
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WHOLE PRODUCT SOLUTION
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ü Consumers, not contractors – Design and coolness ma>ers
ü Easy to buy ü Easy to use ü Easy to install ü Easy to upgrade over web ü Beau8fully designed
TARGET MARKET
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© 2014 The Chasm Group, LLC
Energy-Conscious Consumers
Easy to buy, install, use, upgrade
Website, retail partnerships
Honeywell Prestige
Smoke/ carbon Monoxide detectors
Easy energy savings, Easy home comfort
None required
Parity with reference competitor
Self learning
Nest Labs: Market Development Strategy Checklist
1. Target Consumer
2. Compelling Reason to Buy
3. Whole Product
4. Partners & Allies
5. Sales Strategy
6. Pricing Strategy
7. Compe88on
8. Posi8oning / Messaging
9. Next Target
© 2014 The Chasm Group, LLC
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© 2014 The Chasm Group, LLC
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© 2014 The Chasm Group, LLC
Product – Market Fit: Three Core Strategic QuesNons
ü Health/Fitness Enthusiasts ü Dieters ü Coolness factor ü Monitors ac8vity levels o Monitors my sleep…YAWN u Requires new habits u Requires daily input (food/sleep) u Kludgy smartphone programming u Uncomfortable to wear u Data > Automated ac8onable
insights
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COMPELLING REASON TO BUY
2
WHOLE PRODUCT SOLUTION
3
TARGET MARKET
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© 2014 The Chasm Group, LLC
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© 2014 The Chasm Group, LLC
“That’s been one of my mantras – focus and simplicity. You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.””
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© 2014 The Chasm Group, LLC
The Four Gears for Web-‐Based Businesses
ENLISTMENT ACQUISITION
ENGAGEMENT MONETIZATION
Starter Motor
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© 2014 The Chasm Group, LLC
Four Gears to Drive Sustained Growth
ENLISTMENT
ACQUISITION
ENGAGEMENT
MONETIZATION
Starter Motor
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© 2014 The Chasm Group, LLC
Growth is a Process
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