“How to position your product” is the biggest question.

“No matter how many times you explain, customer just doesn’t get it”

“We expect user to use our product in X way, but they use it in Y way”

We do ‘this’, but they think we do ‘that’ and starts comparing us with something ‘that’.

If this is your Kaifiyat (frustration), then you are not alone. Most of the startup entrepreneurs and marketers face this challenge every day.

“How to position your product” is the biggest question.

Shankar Maruwada, brand builder for Aadhar (UDAI project) and P&G products ran a very intensive round table discussion at TouchMagix office Pune. With Twelve entrepreneurs, primarily building global standard technology products to solve business and/or consumer problems echoing same problem – How to position my product without ambiguity.

Beginning of the session, Shankar made it clear that its not a “Gyaan” session, no checklist, best practices or a formula. There is no one pill to solve everybody’s problem. Infact, Shankar insisted, “You’ll walk away with more questions than any answers.”

Bob’s Story: Very first thing Shankar asked all the participants to write a brief story of our “Bob – The Customer”.

Imagine Bob is your most prominent customer. Bob has a problem, Bob uses your product, your product improves Bob’s life.

Rest of the day, Shankar used the “Story” as a base to have each participant pitch/sale their product to everybody in the room. As a participant pitches his/her product, rest of the group critiqued it as a customer. Since most entrepreneurs come from a background and/or experience where they could imagine a use of the pitched products, they were able to provide valuable inputs.

While one entrepreneur pitched his enterprise communication product, while someone else pitched their idea to implementation services business. Rest of the group found it difficult to understand “what exactly does it do”. Thats when Shankar helped with his expert probing questions to highlight the core problem these entrepreneurs are trying to solve. The group also helped highlight a critical situation where the product could make the most impact.

This exercise helped to understand “Although your product might be solving 10 problems or your may have 10 different features, it is important to understand which is THE MOST BURNING PAIN/PROBLEM your product help solve. Focus only and only on that. This helps creating a “Good positioning” in customer’s mind as he is looking for a solution for the same.

DSC_4659Curse of Knowledge

At this point, Shankar introduced a concept of “Curse of knowledge” which works in both ways. To prove a simple yet profound point, Shankar made us perform a group exercise. (I won’t reveal the details as it will spoil the fun and learning if you happen attend the session in future)

This exercise helped realize two things –

  1. What you think is easy for customers to understand, may not be that easy. So work hard at it.
  2. Once you “Know” something, it is difficult to Not know it. – Curse of knowledge.

Curse of knowledge may work in two ways. Based on what words you are saying in your pitch, your customer starts connecting dots in his own mind with his pre-knowledge and starts comparing your products against it. If your pitch helps tap into right knowledge, customer quickly gets the point. However, if your pitch distracts him on different line, then you face a challenge of not being able to convince him. Most importantly if your product is expecting to change his existing habits, then you face a real challenge as customer (in his mind) will always try to defend his own working habits and will be reluctant to accept/understand what your product does. Here Shankar gave an example of if someone try to change our deep rooted email behavior, will face a significant challenge unless you bring a real value proposition that customer cares about. Here one of the participants shared his experience of how people are looking at website updates as a “job to be done” whereas same users are perfectly comfortable in updating their status on social media.

“The hook” and “The Golden Circle”

At this point Shankar introduced the “Hook or Nail” concept by showing DropBox Product video. In this video, Lee Lefever has identified a common hook from day to day real life of need to organize things in one place. How this hook helps in relating to the need of organizing your digital assets in one place accessible anytime, anywhere. Followed by this Siman Senek’s Golden Circle emphasising on importance of “WHY” and how order of WHY-HOW-WHAT of could change the way people perceive you. The key message here was that “People dont buy what you do, people buy why you do it” and how this is at core of Apple’s success. Shankar also showed another video where complex concept of differential gear was explained with simple analogy of pared bike riders.

Now was a time for us to re-write our Bob’s story by identifying “Hook” and techno-jargon less clear messaging. A few more pitches/product-videos were reviewed and critiqued. This time, Shankar steered the discussion to gain more clarity by drawing mind map of every pitch. With his expertise in digging deep into core emotions, he helped participants to identify keywords that could help them refine their pitch to drive clarity. In this exercise, you want to identify all objectives, emotions, and needs related to your product. Now, arrange them in their priority, connect them with relevance, and eliminate those that add no value or create confusion. Here, asking “Why” is an important aspect of finding the truth and getting clarity. To supplement his point, Shankar shared couple of stories from his efforts while establishing Aadhar brand. How interactions with rural population simplified Aadhar’s positioning (“Pehechaan hi Jindagi ka Aadhar hai”) and help achieve massive adoption.

Framework to think: In the last spell, Shankar summed it all in a simple framework. Every concept has three parts.

Mindset (Belief) – A mindset or accepted/known beliefs of your customer

Benefit – The solution or value your product creates

Support – Social proof or reason to believe

Example: Afraid of wearing a black suit (Mindset) in a party as dandruff could expose you? Worry not, use our solution to get rid of (real benefit) stubborn dandruff and be confident (emotional benefit). Endorsed by these celebrities (Social proof), our dandruff solution builds the confidence to make you hero.

In five hours of intense group discussion, all of us had good understanding of what might be going wrong. Everyone has different product, different customer mindset, different challenges and different situations; but each one will be searching for one “Hook” around which a pitch can be built.

Product positioning starts in Customer’s mind. You need to find a hook where you could position the product with utmost clarity. Next time you struggle with “How come they don’t get it”, ask yourself – Did I find the right hook or have I tapped into wrong zone of knowledge?

 

Useful videos:

Guest post by Abhijit Mhetre founder at Canvazify – visual platform that helps entrepreneurs and design thinkers drive innovation through collaborative ideation. Abhijit is passionate about collaborative innovation and loves everything about running a startup.  

Innovation and User experience are two areas where CIOs are willing to look at new things: Highlights of #InTech50 2014: Day 2

This post covers the highlights of day 2 of InTech50 2014.  The highlights of day 1 are here.

Before getting into the highlights of the pitches of the 50 companies, here are some important points from the expert talks and panel discussions.

View from the VCs:

Rob Heiman, Alok Goyal, Sandeep Singhal and Tim Goddard gave practical tips to the entrepreneurs.  Some highlights:IMG_3032

Quality of the team trumps everything else. Everything else – product, technology etc. are not as important as the team. In a startup journey, the product will change, technologies will change and pivots will happen. Hence the quality of the team is paramount to make corrections along the course.

The team has to be focused on one thing and believe in what they are doing.

VCs get tons of unsolicited mail. While they try not to miss any of them – it is better to go through a warm introduction through some common person. Otherwise, getting together will be difficult.

View from the CIOs

Chris Hjelm, Dawn Page, Jay Jayaraman, Damn Frost discussed their view of startups and what startups should consider when engaging with large enterprises.

  • Startups need to understand the business needs of the enterprises.
  • The startup’s product should solve their business problem.
  • Be relevant to their needs. For example, Mobile Security is a big pain point – and they will be very willing to anyone who has a good solution for them.
  • Don’t talk jargon to CIOs – cloud, unstructured data etc. do not excite them. That is not relevant to them. Talk to them on how you can solve their problems.
  • CIOs get tons of emails – identifying a good startup is like finding a needle in a haystack. Word of mouth is a very good medium as CIOs are very well connected with each other.
  • Be realistic about what you can and cannot do.  If a small startup promises to solve world hunger, credibility will be at risk and it can adversely affect the next steps.
  • Do your research on the CIO’s company, their technology choices and current technology investments. Most of the time, this information is freely available. Try to experience the business the CIO’s company is in and then explain to them how your solution fits into their scenario.
  • CIO’s are also looking at the business model of the startups to see if they are going to be long term players.
  • Innovation and User experience are two areas where CIOs are willing to look at new things.
  • One of the big challenges for large companies to work with small companies is scale. Usually, smaller companies do not have the resources to handle requests from a large company.
  • A good and respectable CIO has a lot of say in the company. So it is good to go through the CIO. At the same time, the business group should be excited about your solution so they can back the CIO’s decision.
  • For large companies – data is their most valuable asset. Non-essential data can be put on cloud, but the essential data has to remain on premise e.g. customer data, financial data, as that is very sensitive information.

IMG_3080

Rapid Fire Pitches

The 50 InTech companies chosen to present in the rapid-fire pitch were selected out of the 200 applications.  Each jury member independently scored all the applicants, and the top 50 were chosen.

The InTech50 companies are of different sizes and operate in varied domains. While some of them are leaders in their space and mentioned in Gartner’s magic quadrants, some are pre-funded startups with just a handful of customers.

Most of the companies have a global customer base.  Some of the companies have customers from more than 100 countries.

The 50 companies were categorized broadly into:

  • Experience and Engagement Management
  • HR – Recruitment, Survey, Talent Management
  • BI/Analytics/Social Analytics
  • E-Commerce
  • IT Security
  • IT Services Development

IMG_3063Each company got exactly five minutes to present their product in a rapid fire pitch. Thanks to the excellent planning and execution by Manjunath Gowda of I7 Networks, it was all smoothly executed and on-schedule.

You can learn more about these 50 companies in the InTech50 Booklet.

Awards

Five awards were given at the end of the day under the following categories.

  • Most Scalable Idea – Zipdial
  • Most Original Idea – Uniken
  • Best Value Proposition – Linguanext
  • Best Pitch – Unmetric
  • Most Popular Company – Sapience/TouchMagix

IMG_3042

Benefits to InTech50 Companies

In addition to the great learning from the expert talks and panel discussions, several companies got very good feedback from the CIOs on their product and many got good leads to pursue.   Overall, all the participants found InTech50 very valuable and were extremely grateful to iSPIRT for providing this platform.

Vasanth Kumar, Co-founder and COO of Sheild Square, said that  they got two “proof of concept” (POC) engagements at the conference.

Manjunath Gowda, CEO of I7 Networks also got two POCs and quite a few leads.

Satya Padmanabham from Zapstitch said he got to learn a lot from other companies as well about the different business models and it was a great exposure overall.

Varun Sharma from iViz security said they got good response from CIOs as well as other InTech50 award winning companies.   And it was a great platform to network.

Next InTech 50 is on April 15th and 16th 2015 at Bangalore.  Mark your calendars and be there!

Next 20 Finalists: #InTech50 Most Innovative Products from India

After announcing the first 20 companies, we are pleased to announce the next 20 finalists for InTech50 – Most Innovative Products from India.

Picking just 50 finalists from over two hundred wonderful products was one of the most challenging jobs for our iSPIRT panel of selectors this year. We have been narrowing and narrowing the choice until we got down to 50 great products.  

Although selecting 50 was really daunting, yet it was greatly satisfying to appreciate so many innovative products from young and innovative startups. The names of the next 20 finalists (in alphabetical order) are:

  • a-mantra is a web based integrated facility management software that is developed in a modular architecture by Satnav Technologies. Asset Management controls the assets and its location. Fixed assets, IT assets and consumable assets can be managed using asset management.
  • Aujas Networks: Digital technology makes informative content easier to find, access, manipulate and remix, and to disseminate. Aujas’ Secure Digital Content Solution helps companies prevent unauthorized usage of digital content.
  • BrandIdea Enterprise Market Analytics™ is a SaaS-based, self-service, Business Intelligence enterprise tool for the FMCG vertical, aimed at the business user. It is powered with in-built granular information on Demographics, Income, Economic, Category and Micro data. It overlays the Client’s internal data to drive insights across – Market Potential, Media, Distribution & Sales for any geographical area in India.
  • Capillary Technologies suite of Intelligent Customer Engagement™ solutions enables businesses to capture and analyze data on customer behavior and shopping preferences through digital and mobile channels. Capillary’s customer engagement solutions enable merchants to provide real-time personalized recommendations to shoppers and allow merchants to offer relevant promotions across any channel of choice.
  • CloudByte offers solutions built for cloud and virtualized environments. CloudByteElastiStorTM is a full-featured storage software product that provides dynamically selectable performance to each application or tenant by continuously monitoring and adjusting key storage performance characteristics including IOPS, throughput, and latency.
  • The Ezetap solution is an end-to-end service that includes a mobile card-reader, a configurable mobile application and a flexible platform that allows Ezetap or any third party to build and turn on value-added services that are tightly integrated to its core payment service.
  • Hoverr.me is a native advertising platform that leverages eyeballs over celebrity photographs in the content publisher websites and redirect it to the E-commerce stores. The computer vision technology fetches similar looking clothes from e-commerce stores and provides it when someone hovers over the celebrity image and encourages instant buy option.
  • iViZ is the first company in the world to take ethical hacking to the cloud. iViZ has built a unique Artificial Intelligence based technology to simulate a human hacker which shows all the permutations and combinations of possible attacks and defenses against a hacker. The technology has already received a patent in USPTO and multiple other patents are under review.
  • LocoBuzz is an award winning Social Media Analytics and engagement platform, which offers unparalleled workflows along with insightful visualization of the digital chatter. LocoBuzz is a tool for brand reputation management, Lead Generation Analytics and Infographics.
  • Nanobi Analytics is a next generation analytics platform built with a highly scalable cloud based architecture. The nanobi analytics platform enables end-to-end capabilities for delivering analytics starting from push/pull data through a variety of interfaces, through to quick/instant data visualization. Its REST architecture enables a seamless API based connect to any other cloud platform or data source, for easy integration and data interface.
  • Ozonetel Systems: CloudAgent is India’s first Multi-Channel Cloud Contact Center which enables SMEs to set up their sales/support agents on a plug & play basis. It is a browser based system which operates on PSTN Cloud and calls for zero hardware and software installation at agent side.
  • ShieldSquare: For online business (classifieds,news/content portals, Ecommerce/marketplaces, Travel Sites), scraping of content by un-authorized bots is becoming a major concern that is affecting the competitiveness of the business. ShieldSquare uses big data analytics to block bots/scrapers in real-time there by increasing the traffic, revenues of the online business as well as cut costs in terms of infrastructure, resources.
  • Stelae Technologies: It offers content transformation software, creating structured, indexed, searchable and enriched output from unstructured content in multiple formats like PDF, ASCII, Word, HTML etc. This enables customers to re-utilize the information on multiple supports like print, web, hand-held devices etc. and store in easy to retrieve archives and make it readily available to their users, cost effectively and rapidly.
  • Pawaa has built a technology platform that secures files and documents. The technology can be seamlessly integrated with any application or use case and allows exchange of files securely. The platform is unique as it overcomes the limitations of encryption on enterprise, mobile and cloud.
  • Qubole Data Service (QDS) provides a Big Data Platform in the AWS and GCE clouds. Our award-winning cloud-optimized and auto-scaling Hadoop technology allows customers to run Hadoop in a cost-effective manner in the Cloud. Its user Interface make it simple for data analysts to use big data technologies like Hive, Pig and Sqoop, Presto and Oozie to integrate and analyze data from a variety of sources.
  • Thinkflow Software: Available on-cloud and on-premise, Thinkflow apps platform is helping enterprise app developers build business applications faster. The platform has modules to create process flows, create alerts, configure business rules, design forms, digitize documents and an inbuilt module for business process analytics.
  • Thinxtream: It offers PrintJinni – Consumer Printing Apps on iOS, Android, RIM platforms offering great quality, accuracy, wireless printing to any vendor’s printer. It also supports email, photos, PDF files, Microsoft® Office docs, Webpages and more. It is available in all major languages worldwide.
  • TouchMagix: MotionMagix™ Interactive wall/floor, a gesture based tracking technology lends any wall or floor the qualities of motion-sensing. The vibrant and customizable high resolution content responds to the consumer movements and encourages further interaction. A wall/floor projected advertisement/game can react as and when customers approach the zone.
  • Unmetric: Its product offers the ability to collect, interpret and take action on information – regardless of business field. Its offering are focused on providing social media teams. This provides the ability to understand and distill insights from competitive and complementary brands that are active on social channels like Facebook, Twitter, YouTube etc.
  • VoxApp is a mobile survey product used by brands and research companies to get consumer feedback and on-ground market information in real time. In India, of the data collected for brand tracking, retail audits, stock/sales tracking, the bulk are executed on paper/ laptops with issues of data quality and turnaround time that are solved by using VoxApp’s mobile data collection platform.

About InTech:  InTech50, a joint initiative by iSPIRT and Terrene Global Leadership Network that recognizes most promising software products by India’s entrepreneurs.

The elected products that represent inspirational and pioneering concepts in software will be showcased at InTech50, a two-day event to be held at Bangalore from April 9 -10, 2014, where global CIOs and transformation leaders will be present.

(Check out the First 20 Finalists: #InTech50 Most Innovative Products from India. Stay tuned for the last 10 companies which we plan to announce shortly.)

India has the potential to create great product companies. The ecosystem is evolving and we are glad to be part of it

Anup Tapadia, CEO, TouchMagix, has revolutionized interactive systems with his innovation. Driven by an aspiration to innovate and deliver great experiences in gesture based interactive display systems, his products have reached numerous brands and consumers since the company’s inception a few years back.


His work has earned him recognition from the likes of Bill Gates, Dr. Abdul Kalam, Dr. Raghunath Mashelkar, R. Balki and Azim Premji who have acknowledged his sheer intelligence and tech driven entrepreneurial spirit. The British Government awarded him the “Global Young Creative Entrepreneur” honor in 2010.  In an interview with ProductNation, Tapadia talks about his aspirations in making India an innovation hub and to develop world-class products.

You offer a variety of interactive display solutions. What is the market potential for these products?

At TouchMagix, we are focused on creating next generation interactivity and engagement technology and have created products that use motion, gesture and touch for various applications. We manufacture and supply both technology and equipment that have been creating global standards for giving audiences a lasting impact and brand impressions. TouchMagix has a variety of interactive display products like Interactive Floor, Interactive Wall, Multi-Touch MagixKiosk & Table, MagixFone and rich capabilities to build customized solutions and content.

Customization of content is an aspect which increases the market potential of these products manifold. These applications range from creating engagement and experiences for brands, creating an interactive ambience in hotels and lounges, to marketing initiatives at on-ground activities. This technology is also being used for children entertainment, education and health. Being unique in nature, it enables brands to create conversations with their consumers, thus enabling them to become one with the brand. Over the years, we have penetrated globally across a variety of sectors including real estate, banking and financial sector, education, information technology, pharmaceuticals, healthcare, and hospitality sectors.

Is the market willing to bet on new products?

Today, Indian and global brands are looking at innovative avenues and channels to communicate with their target audience be it customers or internal audience. With brand fatigue becoming a cause of concern for brand managers, interactive products like TouchMagix is an ideal solution. The real USP of our product is in the usability, open SDK interfaces and core tracking technology IP which allows us to track gesture/touch at a higher accuracy level and speed.

How soon was /will be your company feasible in terms of generating revenue? What are your sales projections?

We have been profitable since the first year we started business. More than a million people have engaged/experienced TouchMagix products world wide and the number is growing continually.

Indian IT industry has largely been IT services focused. What has been your experience in building products? What were the challenges faced?

We firmly believe that India has the potential to create great product companies. Our experience in building products based out of India has been quite interesting. Building electronic products is not an easy task in India as it is capital intensive and expensive. A major challenge was to find the right people and retain them for R&D based jobs. The ecosystem is evolving and we are glad to be part of it.

Do you feel the Indian ecosystem is software-product friendly? What is needed to create world-class products?

The eco-system is still evolving and education needs to promote research driven product innovations. Most of us prefer the safer route and hence many end up in starting service based companies.

For a young 24-year old guy to have been honored with the ‘International Young Interactive Entrepreneur Award 2010’ by British Council, and ‘Best Young Entrepreneur Award’ by a business magazine, says a lot about your achievements.

I was drawn to computers when I was just seven. In the subsequent five years I mastered over 15 different computer programming languages. Art and Technology have always intrigued me. When I saw Tom Cruise playing around with large displays in Minority Report, it triggered a series of thoughts in my mind on the possibilities of this kind of technology if brought to reality. This led to launching of TechnoKarma Labs. At TechnoKarma, we undertook many projects in the IT networking space such as creating low-cost firewalls and a low cost wireless mesh router, which enabled Wi-Fi connectivity in IIT Pune’s campus. One of the projects from TechnoKarma Labs was later spun off as TouchMagix.

My passion and perseverance to create a truly Indian product for global markets was the reason for my success.

You have also received appreciation from the likes of Dr. APJ Kalam, Bill Gates, Azim Premji and others. How does it feel to be acknowledged by these eminent people?

It is overwhelming when stalwarts from the industry appreciate your efforts. These endearing comments reinforced my confidence and also encouraged me to keep moving on the path of innovation.

What is the road ahead like for TouchMagix? Where do you see the company going?

While multi-touch technology revolutionized the way we currently perceive and engage with technology, gestures and motion will make user-interface even more immersive and instinctive. The potential of this technology is great today, and we are seeing that with the response for our products globally.

From keyboard and mouse to touch and gesture, the human interaction with devices have evolved in a big way to help people interact in a manner that is appropriate for their lives. In future, we aim to create products and content that would make human interaction with devices more intuitive and enable us to create memorable experiences.

What learning would you like to share with others from what you have learnt?

For emerging entrepreneurs I would suggest it’s essential for one to work at one large corporation and one small start-up to experience and understand the functioning of both setups. I feel India is a land of great opportunities and there is never a better time than now to kick-start new business in a growing economy.

TouchMagix Products

  • MotionMagix™) converts any floor/wall into an interactive space for educating and engaging users with fun, action and excitement.
  • MagixTable™ is world’s thinnest 40 point multi-touch plug-n-play surface computer table loaded with rich application suite and easy customization for corporate and entertainment application.
  • MagixKiosk™ 32″ 1080p HD can be used in 4 different form factors like table, tilted kiosk/workstation, high bar table, or as a standing flat display.
  • MagixFone™ is Any Display Any Phone interactive technology which gives your audience the ability to control the screen for playing games, answering quizzes, sending social messages and much more using their mobile phone.
  • MagixFone™ hardware picks-up the call or interprets an SMS which allows the user to use his/her mobiles keypad or voice to interact with the display.