lean launchpad itp 3.3.2014

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Customer relationships, the relationships bowtie funnel, and partners


  • 1.LEAN LAUNCHPAD AT NYU ITP Class 5 / 12 March 3, 2014 Jen van der Meer | jd1159 at nyu dot edu Josh Knowles | chasing at spaceship dot comRockets Sketches borrowed from Harry Allen Design

2. TODAY: 6:00 6:30: Working through Customer Relationships and Partnerships6:30 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 3. WE ARE HERE .2/3 Value Proposition UX Tools, Frameworks1/27 Business Models Customer Development UX Tools Intro3/17 Spring Break2/17 Presidents Day2/10 Customer Segments Research Tools3/24 Customer Development Product Development3/3 Customer Relationships Partners, Product Development2/24 Revenue Streams Distribution Product Definition4/7 Customer Development Product Development3/31 Customer Development Product Development3/10 Resources, Activities, Costs, Product Development4/21 Product MVP4/14 Customer Development Product Development4/28 Lessons Learned 4. CUSTOMER RELATIONSHIPS What are the 3 components?GetKeepGrow(The most important hypothesis) 5. CUSTOMER ARCHETEYPES Whats their roleWho are they How do they buy What matters What pain is being solved for them 6. CUSTOMER RELATIONSHIPS: DIGITAL 7. CUSTOMER RELATIONSHIPS: PHYSICAL VS DIGITAL 8. STRATEGY + TACTICS PhysicalGROWStrategy: Acquire, activateTactics: Websites, appstores, search, email, blogs viral social nets, reviews, pr, free trials, home/landing page, webinarsStrategy: Interact, RetainStrategy: Interact, retainTactics: Loyalty programs, product updates, customer surveys, customer check-in callsKEEPStrategy: Awareness, interest, Consideration, PurchaseTactics: Earned Media, paid media, online toolsGETDigitalTactics: Customization, user groups, blogs, online help, product tips, bulletins, outreach, affiliatesStrategy: New revenue, referralsStrategy: New revenue, referralsTactics: upsell, cross sell, referrals, unbundlingTactics: upgrades, contests, reorders, refer friends, upsell, cross sell 9. THE VIRAL LOOP 10. CUSTOMER ACQUISITION 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. 11. THE MAGIC ACCELERATOR: THE VIRAL LOOP 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. 12. SAAS CUSTOMER LIFECYCLELean Analytics, Alistair Croll, Benjamin Yoskovitz 13. 14 14. PARTNERS Strategic alliances Social media software and WPP, Omnicom, Publicis Joint new business development efforts Intel inside, Retail co-opsCo-opetition Industry week (adweek, fashion week) Key supplier relationships Historical relationship between Microsoft, Dell, and 15. WHAT WILL YOU TEST? Hypothesis to get: Acquisition ActivationWhat is your hypothesis to keep: Outreach Events Loyalty Product updatesWhat is your hypothesis to grow: Upsell Cross-sell Next-sell Referrals 16. WHAT CAME BEFORE STEVE AND ERIC17 17. FOR NEXT WEEK 3/3/14 18. 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 weeks experiments. What passed, what failed, what did you learn? Proposals for next weeks experiments. What constitutes a pass/fail signal for each? 19. NEXT: CANVAS REVIEW AND FEEDBACK 20. APPENDIX 21. ITP TEACHING TEAM 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 PoDJosh Knowles, ITP 07 15+ years as an independent developer/consultant, working with numerous brands and start-up clients (currently under the aegis of Frescher-Southern, Ltd.) 22. STUDENT TEAMS TeamNameSchoolCognitive Toy BoxLindsey JonesSternTammy KwanSternHsiang HuangSternRodrigo DerteanoITPMaximo SicaITPAjejandro PuentesITPAlon ChitayatITPSam SloverITPShilpan BhagatITPMax MaITPSergio MajlufITPSu Hyun KimITPChristina YugaiSternYuliya Parshina KottasITPRose MeachamITPAlternative MonumentsNYBLDiscoverEdAdvanced Expression 23. MENTORS + TEAMS Tom Igoe @tigoe ITP, Arduino, Making Things Talk, NYU ITP PitchfestAlternative MonumentsJulie Berkun Fajgenbaum @julieF Stern Adjunct Professor, Former VP Amex Open, now startup co-founderNYBLMichael Levitz @michael_levitz ITP grad, R/GA, LeanDiscoverEDSarah Krasley @sarahkrasley Autodesk, Sustainability, BerkeleyAdvanced ExpressionChris Milne @greedo1000 IDEO, Toy Lab, Stanford, LEGOCognitive Toy Box