Google Day X - How to win the Price War (Truong Bomi)
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Transcript of Google Day X - How to win the Price War (Truong Bomi)
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%Trust me
I’m a
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Incentivizing
customer at
I’m a
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Incentivizing
customer at
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me
There’s a way out
But
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Market
Business Model
Strategy
Unfair
Advantages
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MARKET
Which is the biggest market with most painful problems?
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Problem
Big pain?
Price is an important concern for customers booking travel online.
Hotels leave you disconnected from the city and its culture.
No easy way exists to book a room with a local or become a host.
Rental listings platform
Problem worth solving
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Market size
Reachably big?
1.9 billion + 532 million 10 million
Total addressable market Servable market Target NICHE market
Trips booked worldwide Budget & online trips Trips with Airbnb
Rental listings platform
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Market size
Reachably big?
Target NICHE market
Untapped Market
Rental listings platform
Fierce Competition 10 million
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Create uncontested market space
Make the competition irrelevant
Create & capture new demand
Break the value – cost trade-off
Competing in existing market space
Beat the competition
Exploit existing demand
Make the value – cost trade-off
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BUSINESS MODEL
Have you found the right one yet?
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Discovery & validate
Business Model that works
DIRECT MULTI-SIDED MARKET PLACE
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Unaware Visitors Happy Customers
Freemium Model
Franchise Model
DIRECT
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Unaware Visitors Happy Users
Happy Customers
Who pays (e.g, advertisers)
MULTI-SIDED
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Unaware Sellers Happy Sellers
MARKET PLACE
Unaware Visitors Happy Buyers
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Unaware Sellers Happy Sellers
MARKET PLACE
We take a X% commission
on each transaction.
Unaware Visitors Happy Buyers
Units
$
ProfitLoss
Break-even
point
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STRATEGY
How to go to market successfully?
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Starting from
Positioning
DIFFERENTIATION RELEVANCE
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Starting from
Positioning
Low price
Low quality High quality
High price
DIFFERENTIATION
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Starting from
Positioning
Low Environmental friendliness
Low quality High quality
High Environmental friendliness
Relevance
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Source:
Taking right strategic go-to-market steps
Moor’s model
NICHE Market
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by Alexandre Wayenberg
Value MapCustomer
Profile
Then getting to
Product – Market Fitbeing in a good market with a product that can satisfy that market
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Then getting to
Product – Market Fit
How would you feel if you could no longer use [product]?
1. Very disappointed
2. Somewhat disappointed
3. Not disappointed (it isn’t really that useful)
4. N/A – I no longer use [product]40%
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UNFAIR
ADVANTAGES
What are the secret weapons that hinder competitors from copied or bought?
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Never forget to build up
Unfair Advantages
Product ResourcesTeam Traction
Can’t be easily copied or bought
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Never forget to build up
Unfair AdvantagesProduct
50% of your time on PRODUCT
50% on TRACTION
Spend
Makes customers very happy
Does it better, different than anyone else
Remember “NICHE to WIN”
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Never forget to build up
Unfair AdvantagesTeam
Entrepreneurs who have sold companies
Geeks with deep technical background
Sales/Marketing who make it rain
- Dave McClure, Investor, Founder of 500 Startup -
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Never forget to build up
Unfair AdvantagesResources
Bootstrapping
Seed Round
Series A, B, C,…
IPO
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Never forget to build up
Unfair AdvantagesResources
Partnership
Channels
Tech
Supply
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Never forget to build up
Unfair AdvantagesResources
Partnership
Channels
Tech
Supply
Traditional Delivery
Companies
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Never forget to build up
Unfair AdvantagesResources
Partnership
Channels
Tech
Supply
Traditional Delivery
Companies
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Never forget to build up
Unfair AdvantagesTraction
CU
STO
MER
S
TIME (months)
Product – Market Fit
500 paid customers
Scale
5000 paid customers
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Never forget to build up
Unfair AdvantagesTraction
Acquisition
Activation
RETENTION
Revenue
Referral
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MarketPainful problem?
Big reachable market?
Blue vs. Red Ocean?
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Market
Business Model
Painful problem?
Big reachable market?
Blue vs. Red Ocean?
Direct?
Multi-sided?
Marketplace?
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Market
Business Model
Strategy
Painful problem?
Big reachable market?
Blue vs. Red Ocean?
Direct?
Multi-sided?
Marketplace?
Positioning?
J.Moor’s model?
Product – Market Fit?
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Market
Business Model
Strategy
Unfair
Advantages
Painful problem?
Big reachable market?
Blue vs. Red Ocean?
Direct?
Multi-sided?
Marketplace?
Positioning?
J.Moor’s model?
Product – Market Fit?
Product?
Team?
Resources?
Traction?
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Market
Business Model
Strategy
Unfair
Advantages
WIN THE PRICE WAR
Painful problem?
Big reachable market?
Blue vs. Red Ocean?
Direct?
Multi-sided?
Marketplace?
Positioning?
J.Moor’s model?
Product – Market Fit?
Product?
Team?
Resources?
Traction?
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