This week was very pivotable for our company. Throughout our pass/fail test we recieved a lot of positive feed back from our cusotmers and a lot of insights. Even after talking to these customers I still have a gut feeling that are product still isn’t solving a big enough need for the to opt on.
Thinking back to Nathan’s theory of passion driven marketing I realized that in order for our company to gain the virality that it needs to be successful we need something that people will gravitate to and share about to their friends becuase it is just that good. I do not see people doing this with a budgeting and coupon app. First off, no one likes to budget. It’s like ripping off a band aid. We don’t want to do it, but it must be done. Then theres couponing. Once again people like that idea of saving money, but they really don’t want to put in any work to doing it.
On Thursday, our team sat down and started talking through these problems. It was here I realized that because we weren’t solving a passion/ high level pain our start-up was halted. It wasn’t moving, we couldn’t nail down an exact revenue stream, and we were sort of losing a fire behind the original idea. Cue in the need for a pivot.
From here we starting going through what our customers were telling us and thinking what some pain points were. While we were doing this Ryan mentioned a high pain that he had regarding food and cooking. From here our team kept adding ideas on to develop something that has a clear revenue stream, something we are excited about, and is a passion/high pain for a lot of people. (Due to the lack of security on the web, Brother Crawford you are going to have to wait till Tuesday to know what it is).
I am excited to see where this pivot will take our group. This week has reminded me of IBC and the importance of being willing to make changes and listen to your gut when you know that a dead end is on the horizon.
When we first started this app we had in mind that it was going to be a coupon app. Since the beginning of the semester that has completely changed. Through the lessons and customer interviews we have learned that not a lot of people have a burning passion for couponing. Rather they would find it a convience if it was easy, but they are still not sure they would use it even then.
When are team gathered on Tuesday we decided to go back to the drawing board. Ryan showed us a technology that allows us to scan receipts in and create a grocery list with local prices. When talking with potential cusotmers this idea resonated better. Due to the more positive response and the class assignment due on Tuesday we have started create sketches and mock-ups of the app that we are going to start showing potentials to see where else we need to pivot.
For our test this week we are going to take our wireframe around to our customer segment of lazy college students who need to budget due to tight resources. During this test we will show 20 potential customers the app and ask a sample of the following questions.
- Due you use a current budgeting system?
- Do you keep your receipts after you go to the store?
- Do you make a grocery list every week?
- What would you change with the layout of this app?
- What color do you think it should be?
- What other features would you wish this app had?
- Would you download this app?
- If yes, would you give us your email?
Our pass/fail scenario will determine on how many emails we end recieving at the end of our sit downs.
With this experiment I hope to find people who will actively engage and honestly tell me what they like and what they don’t.
The Coup is making process.
This week we spent time diving in to truly understand what our customers want and if our idea can truly meet their needs. For our assignment we completed 10 customer interviews. These interviews proved to be very insightful and made our team pivot our overall idea to focusing on making it the easiest for the user.
During class on Thursday we were learned about developing customer personas. I really appreciated the feedback we got in class on Thursday about our different customer ideas.This allowed our team to come back together and really figure out whose pains we are trying to solve.
Overall, I was reminded how important it is to go out and talk to people about your idea. What you think will work will most likely never work without spending the time and effort about talking to those who you are going to try to sell to.
Excited to see what I will learn next week.