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How to avoid dishonorable product failures. It's a waste of everyone's time and money to create a product that no one wants in the first place. The rules of thumb and Three Laws of Marketing Physics help you avoid doing that. And if you have a product idea and don't know the answers to the rules of thumb (or three laws) they will guide your questions and experiments as you do customer development and lean. These are the brief slides I used for my talk/discussion at Silicon Valley Product Camp in March 2014.
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Rules of Thumb and The 3 Laws of Marketing PhysicsHow To Avoid Dishonorable Failures
Nils Davis ([email protected], @nilsie)
SV Product Camp 2014
Not To Be Judge-y, But…• There are honorable failures• Product is good, but competitor is
better• Product is valuable, but couldn’t
scale the company• And so on…
• And dishonorable failures• No one wanted the product!• “Solution in search of a problem”
How Do You Avoid Dishonorable Failure?
• Rules of Thumb
• Laws of Marketing Physics
PM Rules of Thumb• 10x better on an important
dimension• Example: NetIQ• Counter example: Leap Motion
• Connects to previous and succeeding processes• Example: Photoshop
• It works
• Product must meet all of these
What Are Your Rules of Thumb?
Laws of Marketing Physics• Overt Benefit• If you can’t articulate this, big red flag
• Dramatic Difference• Versus as-is situation• (You also need differentiators from
competitors)
• Real Reason To Believe• Social proof• Evaluations
• (From Jumpstarting Your Business Brain, by Doug Hall)
Value Proposition
• From Crossing The Chasm, by Geoffrey Moore
• For <segment>, product is a <category> with <benefits>. Unlike competitors, it has <differentiators>.
