“how to build and market a new product category” by niklas jansen, co-founder of blinkist
TRANSCRIPT
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— Niklas Jansen 👊
How to build and market a new product category
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These companies are category creators.
They create new market spaces through breakthrough innovations.
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Account of revenue growth
47 %53 %
Account of market capitalisation growth
26 %
74 %
Companies that created a categoryCompanies that did not create a category
Fortune’s lists of the 100 fastest-growing U.S. companies from 2009 to 2011
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„Category creators experience much faster growth and receive much higher valuations from investors than companies bringing only incremental innovations to market.“– Havard Business Review
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Beyond economics
Category creation may be the most fun you can have in business
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It’s like surfing the unsurfable. 🤙
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Market opportunity, yeah!
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Market opportunity.. Or a fantasy?
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The everlasting struggle
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100kpaying subscriber
2mnregistered users
$17mn venture capital raised
200%y-o-y revenue growth
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Seven things we learned.
How to build and market a new product category
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LEARNING #1
Create a culture of learning
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Culture > Everything else
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#AlwaysLearning
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Learn to unlearn
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LEARNING #2
Changes are an opportunity
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Understand what drives change
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Demo-graphics Culture
RegulationTechnology
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LEARNING #3
Identify the annoyances society has accepted
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Start with the answers
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Create empathy for your potential users
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How do people solve their problem today?
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Immerse yourself
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Collect data points
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LEARNING #4
¯\_(ツ)_/¯
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Validate your ideas
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„Guerilla Customer Development“
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LEARNING #5
It’s 50/50 product, branding
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Make it easy to understand (and still cool)
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Establish a frame of reference
MAYA – “Most Advanced Yet Acceptable”
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Creative marketing
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LEARNING #6
There’s always competition
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There’s always a substitute
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Competition helps legitimize a market
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LEARNING #7
Be foolish 💪
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„You can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future.“
– Steve Jobs