Velocity and Volume of Paying customers decide the survival of the product. Easier said than done. A lot of iterations will be needed to chisel out the optimal need group. Faster we achieve it the better. This canvas is aimed to make a good start.
Step 1) is to transform problem hypothesis into an appealing narrative that explains the pain and gain. Using this as a basis, we look at potential audience profile that includes langage, location and associated preferences. This will be your Total Available Market (TAM).
Step 2) is to arrive at potential investment (TCO) to assess the affordability and readiness. This will be our Serviceable Available Market (TSM). We further sharpen the analysis with potential segments to identify an immediately obtainable need group (SOM).
Step 3) is to look into the roles involved and impacted. These could be the same or different depending on problem depth. study of this need group’s journey and potential touchpoints follows. Together, We will obtain a blueprint to approach the customer.
Next Steps help us look into the distribution aspects of channels, network and alliances to further the outreach. A niche we can dominate. Once we explore all these option, we have a reasonable idea of the prospect beachhead. Ideally a 1 to 10% of overall TAM.
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Last updated Sep. 1, 2018
MOHAMMED ABUBUCKER ALATHICK
Program Director – Product Management
Digital Product Management Training and Leadership Tools
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