Due to high demand we are not currently accepting new clients for Product Research and Strategy services in 2015. Please visit quickreach.io for Sales Growth and Acceleration services.
Measure & Learn
Research is the link between ideas and execution: successful products that generate an exceptional customer experience begin with decisions grounded in a firm understanding of the customer’s world view.
With an ongoing commitment to learning, the product development process becomes more effective and efficient, radically reducing the time to “product/market fit.”
- Lean Canvas
- MVP Definition
- Pricing & Monetization
- Lean Startup Methodologies
Know your customers
We take a comprehensive profile of your target customers to discover their “pain point” and research a solution that can best meet them. We focus on the key characteristics that lead to real product improvements, not incremental change.
As your product develops, we maintain a communication “feedback loop” with the early adopters . We interview them to understand how they are using the product, how well it addresses or improves the problem it is designed to solve, and how to prioritize new feature development.
Analyze Market Potential
Entrepreneurs face a sea of choices when they commit to starting a business. Successful business models take into account market potential and the opportunity costs associated with pursuing them. We assess your business concept using complementary qualitative and quantitative frameworks.
To validate your perspective on how your product will solve the market’s perceived “pain,” we conduct customer development interviews. Then, we divide the total addressable market (TAM) — the market share you would have if you faced no competition — into consumer segments that we prioritize for early sales prospecting and channel development.
Study Past Execution
Products evolve over time and under a variety of industry-specific competitive forces and constraints. By investigating the market history, we can uncover the effects of these forces and constraints on predecessor products and maximize our learning from their successes and failures.
In other words, our research allows you to leverage existing knowledge to improve the wheel rather than reinvent it. By studying analogs and antilogs, you can avoid potential pitfalls, identify the most fruitful trends, and chart the course most likely to lead to your product’s success.
Methods & Techniques
We gain customer insight by conducting problem and solution interviews with potential early product adopters. We use their feedback as an early test of the product viability and to help prioritize application features in the MVP.
Plan A research
We conduct in-depth research to document your initial vision and create an initial path to realize that vision, called Plan A. Our Plan A is flexible and serves as a springboard for continuous innovation and future iterations of your business model
Antilog and Analog
We test the viability of your business concept and study potential risks by comparing your product to successful products in the market—analogs—and to unsuccessful products in the market—antilogs. By learning what does and does not work, we are less likely to pursue flawed models and avoid wasting resources through a haphazard process of trial and error.
We study trends and canvass the terrain of the marketplace, focusing on your competitors, their products, their strengths and weaknesses, and their strategies, to isolate critical success factors, to find ways to differentiate your product, and to assess your chances of success in the market.
Our challenge is always one of having too many choices for feature releases. Parantap Strategy produced a Lean Canvas for us that pinpointed the exact next steps that we need to take and mapped the effort to value so that we know we’re working on the most important items first.