Product versioning and marketing recommendations to mobile platform for retailers

April 7th, 2011 by Greg Boutin
nokia @ heathrow T5

Image by Divinemissn via Flickr

How do you scale a clever mobile app solving a simple problem in the large retail space? And how do you do it on a shoestring budget?

An interesting challenge I recently got to assist an entrepreneur with.

One way is to attract more prospects in the targeted segment, on the cheap; another way is to extend the segment through business model innovation.

Work completed

  • Introduction of the entrepreneur to inbound marketing and crossing-the-chasm concepts e.g. importance of (1) not selling “pragmatist buyers” on innovation, but product’s usefulness, reliability, and existing users (2) focusing on a cohesive market in which decision makers speak to each other)
  • Recommendation for a light-weight self-serve version of the product, that smaller retailers can purchase and configure online for a monthly fee
  • Recommendation to focus on (1) inbound marketing (2) referral strategy for existing clients
  • Advice on fundraising roadmap

Key contributions

  • Business model and product recommendations currently pursued
  • Helped avoid common mistake of spending lots of money and time on conventional marketing
  • Focus on inbound marketing yielded increased number of high-quality leads
  • Large new opportunity emerged for entrepreneur through referral
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