A Playbook For Achieving Product-Market Fit: Dan Olsen Elliot Susel

A Playbook for Achieving
Product-Market Fit
11.1.2017
Dan Elliot
Olsen Susel
dan@leanstartup.co elliot@leanstartup.co
@danolsen @elliotsusel
Our Background
Dan Olsen Elliot Susel
n  Lean Startup Co: Senior n  Lean Startup Co: Senior
Faculty Faculty
n  Product Management n  TrusDfy: SVP Product,
Consultant Growth and Technology
n  Author, The Lean n  AOL: Head of R&D, Paid
Product Playbook Services
n  Intuit: Product leader n  Curb: AcDng VP
n  Founder, Lean Product Technology
Meetup Silicon Valley
Your Background
Job Company Size
n  Entrepreneur n  Very small < 10 people
n  Product management n  Small 11 – 100 people
n  UX / Design n  Medium 100 – 1,000 people
n  Development n  Large > 1,000 people
n  Data scienDst / analyDcs
n  MarkeDng / growth
n  Other Market Type
n  Enterprise/B2B
n  SMB
n  Consumer/B2C
n  Government
n  Other
What is
Product-Market
Fit?
That’s Why I Wrote
Copyright © 2017 @danolsen

The Product-Market Fit Pyramid




The Lean Product Process








1.  Determine your target customer
2.  IdenDfy underserved customer needs
3.  Define your value proposiDon
4.  Specify your MVP feature set
5.  Create your MVP prototype
6.  Test your MVP with customers

Target Customer Has DisDnct Needs
High-level need TransportaDon within 100 miles of my home
Soccer Mom Speed Demon
Target Customer

Soccer Mom Speed Demon
Detailed needs Carry kids & gear Go fast
Safety Looks cool
Fuel economy

Makes me look cool
Ideal Product


Problem Space vs. SoluDon Space

Problem Space SoluDon Space
n  A customer problem, need n  A specific implementaDon
or benefit that the product to address the need or
should address
product requirement
n  A product requirement

Example
n  Ability to write in space n  Space pen
(zero gravity) ($1 M R&D cost)
n  Russians: pencil

Problem vs. SoluDon Space: Product Level
(user benefits) (product)
Prepare Pen and

my taxes paper
TurboTax
TaxCut

Problem vs. SoluDon Space: Product Level
(user benefits) (product)
Prepare
my taxes
Check my File my
taxes taxes
Maximize my Reduce my
deductions audit risk

Problem vs. SoluDon Space: Feature Level
Help me Tax Interview
prepare taxes Wizard
Empowerment/ Reduce my Audit Risk
Confidence audit risk Analyzer
Check my Tax Return
return Error Checker
Save time Tax Data

preparing taxes Downloader
Save Time
Save time filing Electronic Tax
taxes Return Filing
Maximize my Tax Deduction

Save Money tax deductions Finder
PrioriDzing Needs: Importance vs. SaDsfacDon
Importance of User Need
High
Low
Low High
User SaDsfacDon with Current AlternaDves
High
Low
Low High
High
Not Worth Going Aier
Low
Low High
High
CompeDDve
Market
Low
Low High
High
Low
Low High
PrioriDzing Needs: Importance vs.
SaDsfacDon
High
CompeDDve
Opportunity Market
Low
Low High
High
Low
Low High
Importance of User Need CreaDng Customer Value
High
Area =
Opportunity
Area = to Create
Customer Customer
Value Value
Created
Low
Low High
User SaDsfacDon with the Product
Users Rated 13 Key Features in a Survey
Great
Bad
Recommended reading:
“What Customers Want” by Anthony Ulwick

Kano Model: User Needs & SaDsfacDon
Need Need
not met fully met

User SaDsfacDon
Need Need
not met fully met

User DissaDsfacDon
User SaDsfacDon
Delighter (wow)
Performance
(more is beler)
Need Need
not met fully met
Must Have

User DissaDsfacDon
User SaDsfacDon
Delighter (wow)
Performance
(more is beler)
Need Need
not met fully met
Must Have
Needs & features

migrate over Dme

User DissaDsfacDon
What is Your Value ProposiDon?
n  Which user benefits are you providing?
n  How are you beler than compeDtors?

Must Have Benefit 1
Performance Benefit 1
Delighter Benefit 1
Compe&tor A Compe&tor B You

Must Have Benefit 1

Must Have Benefit 1 Y Y
Performance Benefit 1 High Low
Performance Benefit 2 Low High
Performance Benefit 3 Med Med
Delighter Benefit 1 Y -
Delighter Benefit 2 - -

Must Have Benefit 1 Y Y Y
Performance Benefit 1 High Low Med
Performance Benefit 2 Low High Low
Performance Benefit 3 Med Med High
Delighter Benefit 1 Y - -
Delighter Benefit 2 - - Y

What is an MVP?
Is a landing page an MVP?

To Selle the MVP Debate…
Let’s use the umbrella term

“MVP Test” or
“MVP Experiment”
Avoid This Common MVP Mistake
Courtesy of Jussi Pasanen

See Aaron Walter’s book Designing for Emo:on
Avoid This Common MVP Mistake
Courtesy of Jussi Pasanen

See Aaron Walter’s book Designing for Emo:on
Does this mean we have to
write code?
Interviews
Write a script
Get direc&onal feedback
Repeat un&l you stop learning
Myth #1:
I don’t need to talk to
customers
Source: hlp://www.talkingtohumans.com/cartoons
Illustrated by Tom Fishburne
Myth #2:
We need staDsDcal significance
Source: hlp://www.talkingtohumans.com/cartoons
Illustrated by Tom Fishburne
Myth #3:
”Yes” means yes
Prototype
Create wireframes
Get direc&onal feedback
Repeat un&l you stop learning
Landing Page
It looks real
You quickly discover it’s not yet built
Hopefully you give us your contact info
Let’s play a game…
Stub Test
It looks real
You quickly discover it’s not yet built
Hopefully you give us your contact info
Explainer Video
It looks real
We let you know it’s not ready
Will you register?
Wizard of Oz
It looks real
Behind the scenes it’s manual
Will you use the solu&on?
Concierge
It looks real
It’s manual
Piecemeal
It looks real
We use exis&ng tools
Pre-order
It looks real
We let you know it doesn’t exist
Will you pay us anyways?
Which MVP experiment type do
I choose?
The Build Measure Learn Loop
Ideas
LEARN BUILD
Data Code
MEASURE
How efficient is the experiment?

Value Produced
Efficiency =
Resources Used
Minimum
Types of MVPs Viable Product
We’ve discussed these, but more exist:

•  Interviews •  Wizard of Oz
•  Paper Prototype •  Concierge
•  Landing Page Test •  Piecemeal
•  Stub Test •  Pre-order
•  Explainer Video


The Lean Product Process:
MarkeDngReport.com Case Study

MarkeDngReport.com Case Study
n  My client (CEO) had a new product idea
n  Team: me, CEO, VP markeDng, UI designer
n  Goals
n  See if business opportunity exists
n  Do so quickly and inexpensively (no coding)
n  “MarkeDng report” would let consumers

control the direct mail that they receive
n  Analogous to credit report

Mapping Out Customer Benefits
“MarkeDng Shield” “MarkeDng Saver”
Concept Concept
Reduce Learn why I Money Compare Social

Junk Mail receive the junk Saving Yourself Networking
mail I receive Offers to Others
Save Marketing
Trees Report
Marketing Marketing
Score Profile

RecruiDng Target Customers
n  Used customer research firm (panel)
n  Wrote screener to idenDfy target customers
n  Work full-Dme
n  Fit for Saver: use coupons, Costco membership
n  Fit for Shield: use paper shredder, block caller ID
n  Moderated each group through the mockups

Learning from First Wave of User Tests
“Shield” Concept “Saver” Concept
Reduce Learn why I Money Compare Social

Junk Mail receive the junk Saving Yourself Networking
mail I receive Offers to Others
Save Marketing
Trees Report
Legend
Marketing Marketing
Score Profile Strong appeal
Some appeal
Low appeal
Iterate to improve product-market fit

Thank
You!
Dan Elliot
Olsen Susel
dan@leanstartup.co elliot@leanstartup.co
@danolsen @elliotsusel
Book signing Friday at lunch

A Playbook For Achieving Product-Market Fit: Dan Olsen Elliot Susel

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A Playbook for Achieving

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Prepare Pen and

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Save time Tax Data

Maximize my Tax Deduction

Not Worth Going Aier

Not Worth Going Aier

Not Worth Going Aier

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Needs & features

Copyright © 2017 @danolsen

n How are you beler than compeDtors?

n How are you beler than compeDtors?

Compe&tor A Compe&tor B You

n How are you beler than compeDtors?

Compe&tor A Compe&tor B You

Performance Beneﬁt 1 High Low

Performance Beneﬁt 2 Low High

Performance Beneﬁt 3 Med Med

n How are you beler than compeDtors?

Compe&tor A Compe&tor B You

Performance Beneﬁt 1 High Low Med

Performance Beneﬁt 2 Low High Low

Performance Beneﬁt 3 Med Med High

Copyright © 2017 @danolsen

Is a landing page an MVP?

Let’s use the umbrella term

Courtesy of Jussi Pasanen

Courtesy of Jussi Pasanen

We’ve discussed these, but more exist:

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

Copyright © 2017 @danolsen

n “MarkeDng report” would let consumers

Copyright © 2017 @danolsen

Reduce Learn why I Money Compare Social

Copyright © 2017 @danolsen

n Fit for Saver: use coupons, Costco membership

n Fit for Shield: use paper shredder, block caller ID

n Moderated each group through the mockups

Reduce Learn why I Money Compare Social

Copyright © 2017 @danolsen

S-ar putea să vă placă și

n  How are you beler than compeDtors?

n  How are you beler than compeDtors?

n  How are you beler than compeDtors?

n  How are you beler than compeDtors?

n  “MarkeDng report” would let consumers

n  Fit for Saver: use coupons, Costco membership

n  Fit for Shield: use paper shredder, block caller ID

n  Moderated each group through the mockups