Beware the Positive Feedback

A case study on developing a minimum viable product using the Lean Startup method.

Transcript

1. Beware the Positive Feedback @tross6 tara@appsterdam.rs Tara Ross
8. Get out of the building
12. Total Addressable Market: 5 Million TV viewers per day Served Addressable Market: 70% use second screens while watching TV (3.5 Million) Target Market: 1-2% active app users/day (35k-70k)
13. TEAM Li Chiao: Creative Director and Designer
14. MVP
15. Your app for fun, socializing, and information while you watch TV •Targeted, relevant content •Customized and personalized •Everything in one place
18. Experiments
19. Experiments ID your riskiest assumptions Brainstorm tests Define hypothesis Set goal Run, review, decide
20. Risky Assumption: People are interested in a general second screen app
21. Test: Show 20 Dutch people the low-fidelity MVP and ask for feedback. Hypothesis: People will be interested in a general second-screen app for Dutch TV. Minimum Success Criteria: 5 people will submit their e-mail addresses to be beta testers Validated
22. Risky Assumption: People are interested in a general second screen app
23. Test 2: Two Dutch friends do a Tweet to their network about the app idea. Approx 400-person reach. Hypothesis: People will be interested enough to become beta testers. Minimum Success Criteria: 20 people will submit their e-mail addresses to be beta testers Validated
24. TEAM Li Chiao: Creative Director and Designer
25. TEAM Li Chiao: Creative Director and Designer Swen Faber: Intern (entrepreneurship) Thomas Termeulen: Intern (writing) Talitha Valk: Intern (media) Malou Mulder: Intern (marketing)
26. Risky Assumption: People are interested in a general second screen app
27. Test 3: Talk to 65 “regular” people about the idea. Show them the low-fidelity MVP and Zeebox. Hypothesis: People will be interested enough to become beta testers. Minimum Success Criteria: 50% will submit their e-mail addresses to be beta testers Validated
28. MVP VERSION 2 Feedback: Too cluttered!
29. MVP VERSION 3
30. MDC Budapest
36. Video removed for size. Check it out at http://www.youtube.com/watch? v=IUf7KZJbqcs
40. Risky Assumption: People in the Dutch Market are interested in a second-screen app while watching TV
41. Test 1: Two-week performance-based ad campaign on Sanoma websites and nu.nl Hypothesis: People will be interested enough to subscribe to become beta testers. Minimum Criteria 10% conversion
43. Clicks: 4,183 Conversions: 200 Validated?
44. Impressions 1.1 Million-->clicks 4,183 Click-through rate: .003 Conversions 200 Cost per conversion: 10 Euros
45. Test 1: Two-week performance-based ad campaign on Sanoma websites and nu.nl Hypothesis: People will be interested enough to subscribe to become beta testers. Minimum Criteria 10% conversion Invalidated
46. Risky Assumption: We can deliver the kind of content people want to see.
47. Test 1: Create a “De Dino Show” Tappy twitter account and live-tweet during 9 June show Hypothesis: We will be able to provide compelling, interesting content “tidbits” and get people to follow us. Minimum Criteria 10 new followers
49. Test 1: Create a “De Dino Show” Tappy twitter account and live-tweet during 9 June show Hypothesis: We will be able to provide compelling, interesting content “tidbits” and get people to follow us. Minimum Criteria 10 new followers Flawed Test
50. Risky Assumption: We can deliver the kind of content people want to see.
51. Test 2: Do a 4-day test of the high-fidelity MVP for four different TV shows. Track analytics, and ask for user feedback. Hypothesis: People will react positively to the type of content we put in the app. Minimum Criteria 50% of people who download the app and be active users.
52. Friday: Goede Tijden, Slechte Tijden, 20.00 uur (RTL 4) Saturday: The Comedy Factory, 22.00 uur (RTL 4) Sunday: Andere Tijden Sport, 22.15 uur (Nederland 1) Monday: De Best Sing Songwriter, 22.25 uur (Nederland 3)
55. 260 Download invitations-->125 downloads-->73 unique users
56. Test 2: Do a 4-day test of the high-fidelity MVP for four different TV shows. Track analytics, and ask for user feedback. Hypothesis: People will react positively to the type of content we put in the app. Minimum Criteria 50% of people who download the app and be active users. Invalidated
57. Good News: People are interested.
58. Bad News: Quality content curation (major differentiator) is labor-intensive, does not scale well
59. Bad News: Revenue model
60. “Have we identified a problem a customer wants to see solved?” “Does our product solve the customer problem or need?” “If so, do we have a viable and profitable business model?”
62. Beware the Positive Feedback @tross6 tara@appsterdam.rs Tara Ross