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Duke ECE 490L: How to Start New Ventures in Electrical and Computer Engineering Poornima Vijayashanker [email protected] JeGlass [email protected] Akshay Raut [email protected] 1

Lecture 12: Customer Creation - Part II

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In this lecture Poornima will talk about how to engage with customers to attract more through techniques like collecting feedback, presenting case studies, and activities that will spur demand. You can watch the lecture here: http://youtu.be/Swxj2BjKqdM

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Page 1: Lecture 12: Customer Creation - Part II

Duke ECE 490L: How to Start New Ventures in Electrical and Computer Engineering

Poornima [email protected]

Jeff Glass [email protected]

Akshay [email protected]

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Page 2: Lecture 12: Customer Creation - Part II

Review

Duke ECE 490L

• Customer Creation

• Concierge MVP

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Page 4: Lecture 12: Customer Creation - Part II

Agenda

Duke ECE 490L

• Feedback Collection

• Customer Case Study

• Demand Creation Activities

• Exercise

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Page 5: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Customer Discovery Validation Customer CreationBusiness/Company

Formation

Early AdopterPricing Product

Distribution

Mainstream AdoptersMoney for Marketing

Market Research

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Page 6: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Customer Discovery Validation Customer CreationBusiness/Company

Formation

Early AdopterPricing Product

Distribution

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Page 7: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Questionnaire.

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Page 8: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Identify prospects.

Send out survey.

Check # of responses.

Who didn’t respond?

Who did respond?

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Page 9: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Identify prospects.

Send out survey.

Check # of responses.

Who didn’t respond?

Who did respond?

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Page 10: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Why?

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Page 11: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Drill down further.

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Page 12: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Ask for referrals!

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Page 13: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Keep track of case studies and testimonials.

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Page 14: Lecture 12: Customer Creation - Part II

How to Do a Customer Case Study

Duke ECE 490L

• Who are they?

• Why did the pick you?

• How did your product benefit them?

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Page 15: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Persona.

Testimonial with name and picture.

Full story.

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Page 16: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Multiple user segments?

Showcase each.

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Page 17: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Stories of existing customers attract others just like them!

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Page 18: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Bake your brand recognition into your product.

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Page 19: Lecture 12: Customer Creation - Part II

Case Study #1: Olark

Duke ECE 490L

• Live chat

• Widget on homepage of websites

• Builds virality through frequent recognition

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Page 20: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Inbound interest comes from demand creation activities.

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Page 21: Lecture 12: Customer Creation - Part II

Demand Creation

Duke ECE 490L

• Market adoption v. Market share

• Education

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Page 22: Lecture 12: Customer Creation - Part II

Educate Each Group

Duke ECE 490L

• Experts

• Connectors

• Earlyvangelists

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Page 23: Lecture 12: Customer Creation - Part II

Techniques

Duke ECE 490L

• Experts: need to understand the unique value proposition of your product.

• Connectors: need to know most relevant connections, and a way to leverage their existing networks.

• Earlyvangelists: make the message memorable for them to convey.

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Page 24: Lecture 12: Customer Creation - Part II

Case Study #2: Mint

Duke ECE 490L

• Experts: Suze Orman

• Connectors: financial bloggers and badges.

• Earlyvangelists: sharing infographics.

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Page 25: Lecture 12: Customer Creation - Part II

Duke ECE 490L

What if you’re segments change?

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Page 26: Lecture 12: Customer Creation - Part II

Duke ECE 490L

DESTROY EVERYTHING!

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Page 27: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Remember the definition of positioning?

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Page 28: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Image in the mind’s of prospects and customers.

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Page 29: Lecture 12: Customer Creation - Part II

Duke ECE 490L

Exercise!

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Page 30: Lecture 12: Customer Creation - Part II

Review

Duke ECE 490L

• Feedback Collection

• Customer Case Study

• Demand Creation Activities

• Exercise

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