MASiV 2014: Market Development Strategy and Technology Adoption
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© 2014 The Chasm Group, LLC Achieving Escape Velocity Transforming Visionary Ideas into Mainstream Businesses
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Chasm Group presentation at Woodside Capital conference held January 2104. Covers key technology trends, strategic and operational issues tied to tech adoption and go-to-market strategies, social media/apps adoption, with illustrative cases
Transcript of MASiV 2014: Market Development Strategy and Technology Adoption
© 2014 The Chasm Group, LLC
Achieving Escape VelocityTransforming Visionary Ideas into Mainstream Businesses
© 2014 The Chasm Group, LLC
The New Normal – Speed and Change
• Speed of technology advances
• Device and platform proliferation
• Evolving consumer
• More big data, better data analytics
• The Internet of Things
• Speed to success, speed to failure
• Systems of engagement on fire
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© 2014 The Chasm Group, LLC
WHAT’S HOT•Consumer hardware
– Wearables– Car tech– Home Connectivity/Automation– 4K TVs
•Consumer software– Drafting established platforms/categories– App Stores: Microsoft, Salesforce, Apple…
WHAT’S NOT3
© 2014 The Chasm Group, LLC
What Do Speed and Change Mean To You
EARLY STAGE•How do you quickly create a new category, or re-invent one?•How do you challenge incumbents?
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Move fast but not haphazardlyEmploy compasses and modelsFocus and discipline
THE NEWRULES
ESTABLISHED MAINSTREAM•How do you balance current and future businesses?•How do you neutralize competitive upstarts?•How do you make the right acquisitions?
© 2014 The Chasm Group, LLC
“If you don’t know where you’re going, you’ll end up someplace else”
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© 2014 The Chasm Group, LLC
1. Target Consumer
2.Compelling Reason to Buy
3.Whole Product
4.Partners & Allies
5.Sales Strategy
6.Pricing Strategy
7.Competition
8.Positioning / Messaging
9.Next Target
Key sponsor
Complete solution
Manages sales & Fulfillment complexity
Legitimate alternatives
Next growth segment
Key motive
Fill in the gaps
Maps to all the above
Core differentiation
Market Development Strategy Checklist
© 2014 The Chasm Group, LLC
Product – Market Fit: Three Core Strategic Questions
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© 2014 The Chasm Group, LLC
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© 2014 The Chasm Group, LLC
Energy Savings Consistent Home ComfortSelf learning
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Nest Labs Product - Market Fit: Three Core Strategic Questions
COMPELLING REASON TO BUY
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WHOLE PRODUCT SOLUTION
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Consumers, not contractors– Design and coolness matters
Easy to buyEasy to useEasy to installEasy to upgrade over webBeautifully designed
TARGET MARKET
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© 2014 The Chasm Group, LLC
Energy-Conscious Consumers
Easy to buy, install, use, upgrade
Website, retail partnerships
Honeywell Prestige
Smoke/ carbon Monoxide detectors
Easy energy savings, Easy home comfort
None required
Parity with reference competitor
Self learning
Nest Labs: Market Development Strategy Checklist
1. Target Consumer
2.Compelling Reason to Buy
3.Whole Product
4.Partners & Allies
5.Sales Strategy
6.Pricing Strategy
7.Competition
8.Positioning / Messaging
9.Next Target
© 2014 The Chasm Group, LLC
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© 2014 The Chasm Group, LLC
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© 2014 The Chasm Group, LLC
Product – Market Fit: Three Core Strategic Questions
Health/Fitness Enthusiasts Dieters Coolness factor
Monitors activity levelso Monitors my sleep…YAWN Requires new habits Requires daily input (food/sleep) Kludgy smartphone programming Uncomfortable to wear
Data > Automated actionable insights
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COMPELLING REASON TO BUY
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WHOLE PRODUCT SOLUTION
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TARGET MARKET
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© 2014 The Chasm Group, LLC
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© 2014 The Chasm Group, LLC
“That’s been one of my mantras – focus and simplicity. You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.””
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© 2014 The Chasm Group, LLC
The Four Gears for Web-Based Businesses
ACQUISITION
StarterMotor
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© 2014 The Chasm Group, LLC
Four Gears to Drive Sustained Growth
ACQUISITION
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© 2014 The Chasm Group, LLC
Growth is a Process
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