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MinimumViableProductsWhy

they

are

a

life

or

death

matter

whenyou

are

building

a

live

marketplaceWe

share

the

story

on

how

we’ve

built

our

product

Solved.ioon

consecutive

iterations

in

order

to

prevent

failure.MinimumProductsWhytheyare1Hello

//

my

name

is

TomI

learned

how

important

Minimum

Viable

Products

are

the

hardway:

failing

my

first

company.My

new

company,

Solved,

has

an

extra

difficulty:

it’s

a

livemarketplace

-

we

connect

people

facing

a

software

issue

withsoftware

experts

live.In

this

scenario,

building

a

product

on

consecutiveiterations

is

a

life

or

death

matter.Here’s

why

-

and

how

to

make

it

right.Hello//mynameisTomIl2Building

a

live

marketplace

//

The

number

one

challenge

we

need

to

make

sure

the

supply

side

and

the

demand

side

are

validated

simultaneously

and

follow

the

same

path

of

growth.123Supply

software

experts

Supplysoftware

experts

Supplysoftware

experts

Demandcollaborators

who

need

help

Demandcollaborators

who

need

help

Demandcollaborators

who

need

helpBuildingalivemarketplace//3First

MVP

//

validate

the

technology•Our

pain

point:

on-site

training

is

not

efficient

for

big

companies,

and

that

small

companies

only

have

forums

when

it

comes

to

software

issues•Basic

product

need:

connecting

employees

withsoftware

experts

live•First

Step:

make

sure

we

could

establish

a

proper

connection

between

a

client

and

an

expert

within

a

browser

using

the

new

WebRTC

technologyFirstMVP//validatethete4This

is

Solved’s

very

first

MVPThisisSolved’sveryfirstMVP5How

to

assess

the

“V”

in

Minimum

Viable

Product

at

this

point?It’s

a

1

or

0

situation:

if

your

productworks,

then

you

should

go

on.Howtoassessthe“V”inMinim62nd

MVP

//

fuel

the

supply

side•Solved

is

supposed

to

be

used

with

any

software

but

we

reduced

the

scope

to

Ms

Excel:

it

has

a

lot

of

heavy

users

and

is

complex

enough.•Basic

product

need:

finding

experts.

We

could

have

hired

some,

but

it

wouldn’t

have

proven

that

there

is

a

scalable

supply

(freelancers

working

remotely).•Next

Step:

crowding

experts

who

are

interested

in

taking

calls

and

helping

people

remotely

within

an

on-demand

platform2ndMVP//fuelthesupply71.Build

a

landing

page1.Buildalandingpage82.Drive

traffic

towards

it-Direct

marketing:

#FAILReach

was

great

but

not

the

directories

(software

certifications)

so

it

led

tofew

contacts

we

couldn’t

even

convert

into

experts.-Infiltrate

communities:

#FAILContacting

directly

people

in

Facebook

groups,

Linkedin

groups

led

to

beingbanned

by

algorithms

for

phishing.-Social

media

marketing

#SUCCESSAdvertising

on

Linkedin,

targeting

skills

and

on

Facebook

targetinginterests.That

led

to

amazing

conversions

and

costs

of

acquisition

of

$10.2.Drivetraffictowardsit-Direc9How

to

assess

the

“V”

in

Minimum

Viable

Product

at

this

point?When

testing

acquisition

methods,your

key

indicator

is

ROI.That

said,

even

though

there

was

room

for

improvement

toreduce

our

CACs,

there

was

no

time

for

it

so

we

never

improvedanything

with

this

process.Howtoassessthe“V”inMinim103rd

MVP

//

qualify

and

quantify

your

supply•We

tried

emailing

experts

a

list

of

questions:

we

only

got

a

10%

open

rate.

Then

we

built

an

in-app

questionnaire

which

worked

well.•We

made

sure

experts

were

not

“paid

to

wait”

by

having

them

invest

some

time

and

energy

on

signing

up

and

we

nurtured

them

with

newsletters.•Next

Step:

test

the

experts’

skills

to

get

a

minimum

volume

and

engage

them

on

our

platform3rdMVP//qualifyandquant11How

to

assess

the

“V”

in

Minimum

Viable

Product

at

this

point?The

key

is

to

avoid

vanity

metrics.We

could

have

bragged

about

having

1000s

of

experts.

100

canseem

a

few

but

it

was

enough

to

prove

our

point:

the

experts

weneed

exist,

and

they

are

willing

to

work

with

us

for

$20/hourbecause

we

offer

great

flexibility

conditions.Howtoassessthe“V”inMinim124th

MVP

//

fuel

your

demand

accordingly•We

needed

to

know

how

we

could

catch

clients

right

when

they

face

a

software

issue

to

connect

them

with

an

expert.4thMVP//fuelyourdemand131.Build

a

landing

pagewe

actually

built

several:

focused

on

Excel,

Photoshop,

etc.1.Buildalandingpageweactua142.Drive

traffic

towards

itUsing

Adwords:

we

bid

on

keywords

like

“problem

VLOOKUP

excel”

and

got

a$10

of

CAC

with

a

good

potential

reach,

which

was

perfect.2.DrivetraffictowardsitUsing15How

to

assess

the

“V”

in

Minimum

Viable

Product

at

this

point?Just

like

the

supply

side:

ROI

is

yourfriend.Howtoassessthe“V”inMinim165th

MVP

//

qualify

and

quantify

your

demand•We

could

not

“stock”

any

of

our

alpha

users:

once

they

signed

up,

we

were

supposed

to

be

able

to

connect

them

with

an

expert.•Our

technology

wasn’t

ready

so

we

had

to

use

tricks

to

connect

experts

and

clients

(using

live-chat

plugins,

Skype

etc.)•We

needed

to

check

that

our

experts

could

solveour

client’s

issues5thMVP//qualifyandquant17Live-chat

with

a

client

on

thelanding

pageChecking

out

whichexperts

were

available

on

Skype

whileFour

(painful)

days

later…

Our

first

call!Live-chatwitha clientonthe18How

to

assess

the

“V”

in

Minimum

Viable

Product

at

this

point?We

realized

that

our

clients

had

realissues

that

our

experts

could

fix

livewithin

20

minutes.There

are

many

reasons

why

this

could

have

been

a

failure:

if

theclient

had

been

more

expert

than

our

expert,

if

the

client

wasreally

incapable

of

anything,

if

the

calls

had

lasted

only

2

minutesor

2

hours.

Big

victory

for

us.Howtoassessthe“V”inMinim19It

showed

us

we

needed

to

build

a

kick-ass

product

to

automate

the

connexion

between

clients

and

experts

:)Itshowedusweneededtobuil20To

sum

up

//

building

a

live

marketplace

means…Handle

instant

liquidity

on

both

supply

&

demand.Test

acquisition

on

each

side

-

at

a

reasonableROI

and

using

scalable

methodsTest

your

first

users

retentionside.Possibly

build

your

own

technology.Uber

couldn’t

use

phone

lines:

they

neededtheir

magic

app!Build

your

app

while

testing

your

supply

and

demandFocus

on

the

supply

side

before

the

demandIn

the

meantime,

use

your

imagination!Tosumup//buildingalive21Thank

you,

we

areRead

more

on

our

blog.

Try

solved

for

free

now.Thankyou,weareReadmoreon22矢量卡通航天科技模板课件23MinimumViableProductsWhy

they

are

a

life

or

death

matter

whenyou

are

building

a

live

marketplaceWe

share

the

story

on

how

we’ve

built

our

product

Solved.ioon

consecutive

iterations

in

order

to

prevent

failure.MinimumProductsWhytheyare24Hello

//

my

name

is

TomI

learned

how

important

Minimum

Viable

Products

are

the

hardway:

failing

my

first

company.My

new

company,

Solved,

has

an

extra

difficulty:

it’s

a

livemarketplace

-

we

connect

people

facing

a

software

issue

withsoftware

experts

live.In

this

scenario,

building

a

product

on

consecutiveiterations

is

a

life

or

death

matter.Here’s

why

-

and

how

to

make

it

right.Hello//mynameisTomIl25Building

a

live

marketplace

//

The

number

one

challenge

we

need

to

make

sure

the

supply

side

and

the

demand

side

are

validated

simultaneously

and

follow

the

same

path

of

growth.123Supply

software

experts

Supplysoftware

experts

Supplysoftware

experts

Demandcollaborators

who

need

help

Demandcollaborators

who

need

help

Demandcollaborators

who

need

helpBuildingalivemarketplace//26First

MVP

//

validate

the

technology•Our

pain

point:

on-site

training

is

not

efficient

for

big

companies,

and

that

small

companies

only

have

forums

when

it

comes

to

software

issues•Basic

product

need:

connecting

employees

withsoftware

experts

live•First

Step:

make

sure

we

could

establish

a

proper

connection

between

a

client

and

an

expert

within

a

browser

using

the

new

WebRTC

technologyFirstMVP//validatethete27This

is

Solved’s

very

first

MVPThisisSolved’sveryfirstMVP28How

to

assess

the

“V”

in

Minimum

Viable

Product

at

this

point?It’s

a

1

or

0

situation:

if

your

productworks,

then

you

should

go

on.Howtoassessthe“V”inMinim292nd

MVP

//

fuel

the

supply

side•Solved

is

supposed

to

be

used

with

any

software

but

we

reduced

the

scope

to

Ms

Excel:

it

has

a

lot

of

heavy

users

and

is

complex

enough.•Basic

product

need:

finding

experts.

We

could

have

hired

some,

but

it

wouldn’t

have

proven

that

there

is

a

scalable

supply

(freelancers

working

remotely).•Next

Step:

crowding

experts

who

are

interested

in

taking

calls

and

helping

people

remotely

within

an

on-demand

platform2ndMVP//fuelthesupply301.Build

a

landing

page1.Buildalandingpage312.Drive

traffic

towards

it-Direct

marketing:

#FAILReach

was

great

but

not

the

directories

(software

certifications)

so

it

led

tofew

contacts

we

couldn’t

even

convert

into

experts.-Infiltrate

communities:

#FAILContacting

directly

people

in

Facebook

groups,

Linkedin

groups

led

to

beingbanned

by

algorithms

for

phishing.-Social

media

marketing

#SUCCESSAdvertising

on

Linkedin,

targeting

skills

and

on

Facebook

targetinginterests.That

led

to

amazing

conversions

and

costs

of

acquisition

of

$10.2.Drivetraffictowardsit-Direc32How

to

assess

the

“V”

in

Minimum

Viable

Product

at

this

point?When

testing

acquisition

methods,your

key

indicator

is

ROI.That

said,

even

though

there

was

room

for

improvement

toreduce

our

CACs,

there

was

no

time

for

it

so

we

never

improvedanything

with

this

process.Howtoassessthe“V”inMinim333rd

MVP

//

qualify

and

quantify

your

supply•We

tried

emailing

experts

a

list

of

questions:

we

only

got

a

10%

open

rate.

Then

we

built

an

in-app

questionnaire

which

worked

well.•We

made

sure

experts

were

not

“paid

to

wait”

by

having

them

invest

some

time

and

energy

on

signing

up

and

we

nurtured

them

with

newsletters.•Next

Step:

test

the

experts’

skills

to

get

a

minimum

volume

and

engage

them

on

our

platform3rdMVP//qualifyandquant34How

to

assess

the

“V”

in

Minimum

Viable

Product

at

this

point?The

key

is

to

avoid

vanity

metrics.We

could

have

bragged

about

having

1000s

of

experts.

100

canseem

a

few

but

it

was

enough

to

prove

our

point:

the

experts

weneed

exist,

and

they

are

willing

to

work

with

us

for

$20/hourbecause

we

offer

great

flexibility

conditions.Howtoassessthe“V”inMinim354th

MVP

//

fuel

your

demand

accordingly•We

needed

to

know

how

we

could

catch

clients

right

when

they

face

a

software

issue

to

connect

them

with

an

expert.4thMVP//fuelyourdemand361.Build

a

landing

pagewe

actually

built

several:

focused

on

Excel,

Photoshop,

etc.1.Buildalandingpageweactua372.Drive

traffic

towards

itUsing

Adwords:

we

bid

on

keywords

like

“problem

VLOOKUP

excel”

and

got

a$10

of

CAC

with

a

good

potential

reach,

which

was

perfect.2.DrivetraffictowardsitUsing38How

to

assess

the

“V”

in

Minimum

Viable

Product

at

this

point?Just

like

the

supply

side:

ROI

is

yourfriend.Howtoassessthe“V”inMinim395th

MVP

//

qualify

and

quantify

your

demand•We

could

not

“stock”

any

of

our

alpha

users:

once

they

signed

up,

we

were

supposed

to

be

able

to

connect

them

with

an

expert.•Our

technology

wasn’t

ready

so

we

had

to

use

tricks

to

connect

experts

and

clients

(using

live-chat

plugins,

Skype

etc.)•We

needed

to

check

that

our

experts

could

solveour

client’s

issues5thMVP//qualifyandquant40Live-chat

with

a

client

on

thelanding

pageCheck

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