At Web Summit 2017, Intercom co-founder and Chief Strategy Officer Des Traynor spoke about the importance of product strategy at early stage companies.
22. “The solution is as much
hassle as the problem”
Cost
Benefit
“The solution is actually
worse than the problem”
23. “The solution is as much
hassle as the problem”
“This thing is probably
worth installing”
Cost
Benefit
“The solution is actually
worse than the problem”
27. Benefit
$0.99
$0.99
+ install time
$0.99 + install time + now I have to
use another app. Yet another icon on
my phone, yet another thing I have to
remember to check. It’s going to
send me emails, isn’t it? I know it is.
And it’ll be hacked. You know what
screw this…
Cost
28. $0.99 + install time + now I have to use
another app. Yet another icon on my
phone, yet another thing I have to
remember to check. It’s going to send
me emails, isn’t it? I know it is. And it’ll
be hacked. You know what screw
this…
39. In 5 years time….
Will more people have this problem?
Will people have this problem more or less often?
Will the problem hurt more or less?
40. Internet businesses - there will be more
Customer loyalty - it will matter more
Too many tools - there will be more tools
Messaging - it will replace email
Is Intercom’s market growing or shrinking?
41. “Appointment scheduling for dentists”
“Automatically log your mileage with your employer”
“Analytics for enterprise sales teams”
“Virus protection for the desktop”
“Mobile first marketplace for second hand cars”
42. There’s a gap in the market,
but is there a market in the gap?
45. Selling to new companies Selling to established ones
Will adapt to your tool Need your tool to adapt to it
Have a burning need Have an optimisation task
Will take a bet on you Can’t afford risky moves
Will buy quickly, no fuss Will go through procurement
47. Brand is the most overlooked element
in new software companies.
48. Your brand represents the promises
you make to your customers.
When you start out
your product = your brand = your company = you
49. Early on your product drives your brand.
Fast?
Social?
Powerful?
Simple?
Connected? Developer friendly?
Personal?
50. Later on your brand drives your products.
Apple Maps vs Google Maps
Facebook Messenger vs Google Hangouts
51. Can your brand extend to match your ambition?
TeamChat
Developer Payments
UserChat
The Dublin Web Summit
Slack
Stripe
Intercom
Web Summit
52. Products
Jobs
Purpose Brand
One job, many
different products
Purpose Brand
Your product is
your brand
Endorser Brand
One brand, many
different jobs
53. Before you name and characterise your product, ensure you’re…
distinct - are you saying things others won’t say?
clear - do people know what you’re saying?
resonant - will they remember it?
relevant - does it have anything to do with what you’re building?
permanent - will any/all of the above last?
60. Types of moats
Economies of scale - accept a tiny margin for a massive volume
Network effects - ensure your product improves the more it’s adopted
IP/Patents trade secrets - make it illegal to copy you
High switching costs - make it simply too much work to leave
Customer loyalty - make it so no one ever wants to leave