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Draft – WIP - Confidential
BE
iddi
BETTER DATA
MARYANNA | ZINEB | THERESA | KYLAN
INTERVIEWS | NEW/TOTAL | 10/119
E245
BETTER INSIGHTSBETTER WORLD
Team Members : What we Thought
• Kylan Lundeen• GSB• Great Hat!
• Maryanna Quigless• GSB• Lost and Alone :/
• Zineb Laraki• MS EarthSys, SymSys• Nice Smile
• Theresa Johnson• PhD, Aero-Astro• Skeptical Engineer :-/
Team Members : What we Found
• Kylan Lundeen• GSB• Deep domain exp.• Awesome designer
• Maryanna Quigless• GSB• Team Builder :-D
• Zineb Laraki• MS EarthSys, SymSys• Awesome Cust.
Interviews
• Theresa Johnson• PhD, Aero-Astro• Skeptical Engineer :-/
4
Our PathProfound Belief: Un-intrusive, Rewarding Feedback
1. In-Store for SMB
3 Question POS Survey
Prompt + Pic + SMS
2. Viral Consumer Product Re-sell
data
Feedback tied to location
Real time feedback for
discounts/discovery
Real Time Yelp for Events
3. Mobile In-App Survey Delivery
Will SMB’s buy?
Will ppl respond?
Will ppl give real-time feedback?
Can we go viral?
Will SMBs pay for misc. data?
Is there a better way?
5
Our Path
Profound Belief: Un-intrusive, Rewarding Feedback
1. In-Store for SMB
3 Question POS Survey
Prompt + Pic + SMS
Will SMB’s buy?
7
MVP: “Where’s the product?”
We built it… ... we sold it… ..then iterated.. …and launched
PAID
“Lets experiment: will a customer buy a subscription?”
“Let’s integrate paying customer feedback and kick
it up a notch”
“Let’s figure out analytics, marketing and launch!”
What we found
• SMB willing to pay $20-$50/mo.• Survey Takers 1% response rate• POS/Table-top is crowded
9
Our Path
Profound Belief: Un-intrusive, Rewarding Feedback
1. In-Store for SMB
3 Question POS Survey
Prompt + Pic + SMS
Will SMB’s buy?
Will (more) ppl respond?
Test what drives responses
– Test incentives• Discount at POS• Chance to win• Better intrinsic call to action
– Test “reinventing the survey”• Snap a picture & email• Text rating to number
Test timing• Before shopping transaction• After/home based
10
+
1111
• Hand-to-hand combat works
– Immediate Incentives work
– Ease of texting
– Value of incentive
• 2 Pictures + commentary
– Social/Viral works 400%
– Poor placement hurts
– Don’t Delay Gratification
4 Pictures + commentary
“Z axis”
Intrinsic Motivation
Marketing matters
Timing matters- after experience/during exit asks suck
443 Handouts 1 response
Experiments
What we found
• 20% Response rate using pre-shopping handout + Discount
• 20% Response rate using pre-shopping handout and pictures
• Low response rate post-shopping
Trough of despair…more Qs than Answers
Cost of scaling SMB?
time
units
Differentiation? Respondent acquisition???
15
Our PathProfound Belief: Un-intrusive, Rewarding Feedback
2. Viral Consumer Product Re-sell
data
Feedback tied to location
Real time feedback for
discounts/discovery
Real Time Yelp for Events
Will ppl give real-time feedback?
What we thought..
• Let’s focus on acquiring feedback givers…• Hypotheses:– Event knowledge solves a pain for users– Event knowledge keeps id|di ubiquitous– Event feedback solves a pain for promoters– “everyone will just….use it…”
Business Model v5 -- What we did
• Built a mock up of “id|di rooster”, real time yelp for events• Got out of the building: Tested it via interviews and “the BBL
test”
What we found
• Hyper local events discovery solves a pain
• Community would keep app ubiquitous
• Promoter pain point solved
Kind of… events are hard to discover….people use email and digests as a hack
Most people plan ahead
(not JIT-ers)
Kind of… very temporal, after 20 minutes utility “expires”
Need to be hyper viral
No…campus promoters won’t pay
Need data to show value
What we thought…
• If the information is there…they will come
• Seed the system by scraping other networks for information.
• Leverage partners to add value to promoters and users
Business Model v6 – What we did
Testing outside of the building….
Can we reach target viral coefficient?
1.1 Not really…
Can we add value via scrape?
Not really…
Can we create a conversation?
Yes…
What is user cost?
$20 (too much)…
What we thoughtHypothesis: • We need to lower cost of acquiring respondents• We need to create a way for more direct access to
respondents• We need to automate user sign up/ launch
iddiSurvey Creation,
Data & Insight Tools
Market Researchers
inMobi Publishers Targeted Respondents
Web banner ad modules
Interstitials
Self service product+
Business Model v7 – What we did
Interviewed potential channel partners
Interviewed potential customers and product partners
What we found
• Large ad networks won’t partner with us until they see scale
• Need to build an API with existing infrastructure– “banner ad space as a container”
• Potential developing market opportunity• Product selection bias awareness (don’t behave
like survey on the spot)• Can the busy customer launch and review quickly
(“the on the toilet test”)?
Interstitial surveys via mobile content
iddiSurvey Creation,
Data & Insight Tools
Market Researchers
inMobi Publishers Targeted Respondents
Latte or Cappuccino?
Revenue Model: Smart-phone, US
iddiSurvey Creation,
Data & Insight Tools
Market Researchers
inMobi Publishers Targeted Respondents
$1.50/res.$0.70/res.$0.30/res.
Revenue Model: Feature Phone, Africa
iddiSurvey Creation,
Data & Insight Tools
Market Researchers
inMobi Publishers Targeted Respondents
$1.00/res.$0.10/res.$0.20/res.
RoadMap
Beta Product Testing
6 mos. – 1yr$500K angel3 co-founders2 additional developers/designersBeta test with entrepreneurs & CPGs
US Smart-phone launch
Raise Series-A based on working product and 100-300 paying customers
Hire 3 mid market sales, $40K + commission
Recurring CPG Revenue
Africa, Feature Phone Launch
Raise Series B based on 2500+ paying customers
Partner with publishers in Ghana, Kenya and CapeTown
New Sales to NGOs and Manufacturing & local SMB
April –Dec. 2013 June 2015Jan. 2014
Viability?
• Secured Space in GSB Venture Studio• StartX Motwani Labs
• Maryanna Quigless• GSB• Consulting• Start-up Iroko• Africa
• Theresa Johnson• PhD Engineering• Data algorithms• Start-up (beta-SeriesA,
Apture)
33
Lessons Learned Summary• Stick to your guns!! (Thanks Steve)• Being hypothesis/data driven– Getting customers to give feedback is hard– It needs to be easy and convenient– Needs a clear incentive• Intrinsic: Help Business – Improve your experience• Extrinsic: Reward before you walk out the door
• Filtering through lots of contradictory feedback and unclear signals