"What Should I have really asked you?"- Customer Discover is not Sales

Hi All

It's Time for many of you to Get Out of the Building and to start having real interview-conversations with real people- don't leave it until the last minute. I shall be wanting evidence in your presentations of what you discovered, values that customers have and solutions that they see: Customer Discovery is not Sales- it is preparation and planning for sales. Do not sell- YET! First discover and empathise. See if you can listen not hear, and ask not speak!

Good luck and I look forward to seeing the results posted here before our next class together.

Reflexion Excalibur

Knight and Excalibur Engines

Customer Acquisition Starts Your Sales Preparation. 2 Minutes to See Why

Hi All
Watch this video about Customer Archetypes (or Buyer Personas) and Value Discovery by one of the world's leading thinkers in this area, Steve Blank. Start watching at 36 seconds.

You are now in the process of 'acquiring customers' as planning & preparation to negotiate your sale with them. 
You therefore need to in THE NEXT FEW DAYS:

1. design your revised customer discovery interview questions & interview- using the guides in the Class resources and posted in this blog
2. get out of the building and EACH of you (NOT each team but each team member) conduct at least 12 Customer Interviews to determine their pains, needs, requirements, motivations, attitudes, perceptions about their health and wellbeing and the solutions they currently use, problems with them and wishes for better options (which maybe Fabulyzer can or cannot solve)
3. Use and distil this discovery information from your individual interviews to, as a team, provide a set of Buyer Personas or as Steve Blank in this video calls them Customer Archetypes
4. Try and capture value statements for each Persona/Archetype when they encounter the different categories of pains, needs & requirements that you have discovered. if it helps use the Table below

BEFORE next week's class please share on this blog as a Scribd Powerpoint/PDF upload: your team's customer discovery interview, with the list of 12 target customers for each team member.

FOR next week's class please come prepared to present using something similar to the table below, the analysed and distilled results of your interviews: 

1. The Top 3 Customer Pain Points, the Top 3 Customer Motivations, and the Top 3 Customer Needs/Requirements that may be pertinent to Fabulyzer's business
2. 6-7 Buyer Personas or Archetypes
3. As many customer value statements as possible (some direct quotes from the customers' own expressions and some served from your interoperation of their wishes)
4. Draft sales contract agreement for offering to customers in your sales negotiation

	Persona A	Persona B	Persona C	Persona D	Persona E	Persona F	Persona G
Pain Point 1	Value Statement A1	Value Statement B1				Value Statement F1
Paint Point 2			Value Statement C2		Value Statement E2		Value Statement G2
Pain Point 3		Value Statement B3			Value Statement E3
Key Motivator 4		Value Statement B4		Value Statement D4		Value Statement F4
Key Motivator 5	Value Statement A5
Key Motivator 6			Value Statement C6			Value Statement F6	Value Statement G6
Requirement 7					Value Statement E7
Requirement 8		Value Statement B8		Value Statement D8		Value Statement F8
Requirement 9	Value Statement A9		Value Statement C9		Value Statement C9

Segmentation Table of Needs

Workshop 3 Consumer Segments - Christopher Kaul, Georgina Sweeting, Anna Melkonyan, Ekaterina Selivonchik

Innovation in fitness

Hey everyone,

in our class "Managing innovation in a digital economy" we saw important innovations at the CES in Las Vegas. One innovation is a product in the fitness industry. I think it shows, that innovation in this industry is very important and that products are in demand.

This is the link to the Video from CES:
https://www.youtube.com/watch?v=gBF6j3qOfvA Time: 1:32

Link to the Homepage:
https://healbe.com

Negotiation vs bargaining

Negotiation vs Bargaining

the Knight v Excalibur Engines Exercise (Chloé, Linna, Yvette & Charlotte)

Hi everyone!





As we reflected on this exercise, we can conclude that all 4 of us were happy with the result.
The key to this "small success" was TIME.
Don't try to rush through it but take your time.
Before we started the negotiation Chloé & I made op a little scheme of how we were planning to take the lead in the negotiation without really performing as if we were taking the lead.
Some bullet points were:

*welcome them friendly and point out why we were having this meeting.
* We said nothing & listened + make them talk more by asking questions
* made a summary of what they proposed together with the interlocutors
* Asked them for 5 minutes break so we could discuss how we were going to continue our strategy
* We asked them to be clearer and said nothing + said nothing until felt a bit uncomfortable
* As we understood that they were aiming for a long term relationship we mentioned the opportunity they would get by working together with us. Their "golden ticket"to work and be labelled by a big company.
* We said that we wanted a perfect quality and negotiated on the fact that they would take back unused and defective goods.
* As we found an agreement on the fact that we would order 10 000 pieces instead of 8000 but with the promise that they would take back the unused+ detective goods without any costs.  (By doing this we weren't taking any risk of poor quality or unfinished goods)
* Our following step was to discuss the delivery time. The interlocutors suggested a one week delivery time which we obviously accepted (We could decrease our manufacturing time and made sure we could deliver high quality products within 60 days)
* Before our negotiation started Chloé and I decided that we wouldn't aim for the lowest price but instead not paying for the fees, but still have all the benefits of the fees.
* We summarized together with Linna & Yvette what we agreed on already
*started negotiating more directly and on a higher level (+ still pointed out their opportunity in the future)
* reached a win-win agreement


We can conclude that we gained more or less their trust and reached our goal of delivering high quality products in a shorter period of time.


Hope it helps!


Chloé & Charlotte