How to design and launch a disruptive digital startup

We helped the global leader of the professional services industry develop a new digital product and create new revenue streams.

CASE STORY

INDUSTRY

PROFESSIONAL SERVICES

SERVICES PROVIDED

STARTUP AS A SERVICE

kreseczka

THE CHALLENGE

Startups. Agile. Disruption. Digital. Unicorns. Tons of corporations are talking using this language. But how can we transform it from cliche words to impactful statements? How can we stop thinking and start acting smart and fast?

This was the question in our clients’ minds when, as a big, traditional company, they were looking for new revenue streams and innovative products.They knew that to effectively compete with other companies and reclaim the lead position on the domestic market they needed to take on some challenges.

The first one of these was to enter a new market segment by providing a totally new offer based on a mobile app solution. The second challenge was to change their existing approach to launching products – the waterfall development approach, which seemed to be uneffective. To take on those challenges, we led them through the agile, Lean Startup process to create a new disruptive offering.

LET’S REACH THE MARKET AND EXPLORE PROBLEMS

After confirming our client’s corporate goals, success criteria and high-level product vision, we conducted deep market analysis to assess its value and growth dynamics, social and tech trends and competitive landscape. Based on the outcomes, we came up with a set of hypotheses e.g: who the early adopters of the solution would be, what products they used and what their needs and problems were. As a following step, we conducted multiple customer interviews to validate all our hypotheses.

Simultaneously, we conducted an intense tech-startup benchmarking study to find American and Western European solutions that had grown rapidly in the last five years. That allowed us to learn how they won the market and what their sources of competitive advantage were.

During this phase, we learned that the problem we aimed to address truly existed and we collected lots of insights crucial for development of the product. Moreover, the tech startup study provided us with a number of inspirational ideas concerning our future product value proposition and it’s business model.

LET’S CREATE A DETAILED PRODUCT CONCEPT!

Based on the data gathered and other insights, we conducted a strategic workshop. Key managers and experts on the customer’s side actively participated in defining product features and pricing model. Afterward, we developed a business model for the concept, which turned to be a two-sided platform connecting customers with service providers. Based on this, we estimated the market and prepared the first P&L to estimate its profitability.

LET’S BUILD PROTOTYPES!

Companies waste plenty of time and lots of money building and launching products nobody wants. Based on Lean Startup principles, we decided to test our product concept before investing heavily in product development. Having the concept, we needed to validate it with target customers and users. To make those validations effective, we needed to prepare immersive experiments that would proove the concept. That’s why we designed a clickable, mobile mockup of the solution, a product presentation for interviews and a landing page for quantitative validation.

LET’S TEST AND ITERATE!

Together with our client, we ran a number of different experiments to validate our solution. First we met with possible customers to validate the solution and gather feedback on features for upcoming prioritization. We also performed an experiment using a landing page and a social network marketing campaign to quantitatively validate the value proposition of our solution and explore the best location for the launch of the project. We also conducted a number of solution interviews with prospective service suppliers interested in using our product.

22M USD

ACCUMULATED REVENUE IN NEXT 4Y

30/36

INTERVIEWEES INTERESTED IN BUYING THE PRODUCT

52%

CTR IN THE PRODUCT’S LANDING PAGE

GO!

DECISION FOR MVP BUILDING

kreseczka

THE OUTCOME

Hand-in-hand with our client, our team validated a concept for the new product with a promising business model and revenue streams. It earned approval from the Executive Team, which gave a green light for market implementation.

We designed a potentially disruptive product concept, that in a few years may become one of our client’s key revenue streams.

Thanks to extensive research of the market and customers, we minimized risk and cost of failure.

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