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Hi there, we'll take this one step at a time!
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If you struggle with a blank canvas, use this boilerplate to start. Remember, this is a flexible resourceβtweak it as needed. Some sections might not apply to your product and you might come up with great ideas not listed here, don't let be restricted.
This is not the only format, we would love to see you scope out a great format for your product!
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Go wild and dive deepβwe love well-researched documents that cover all bases with depth and understanding.
Refer to the project brief and the additional resources before you begin this project!
(Go through them at least 3 times or till the time you donβt have a mind map in your brain)
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(Think of this as an introduction to your product- make it remarkable!)
With increasing demand for the Interiors across our country, the Interior Businesses face a growing challenge of handling and managing them for achieving the business profits.
At Konnectmojo, every tool is built to facilitate the entire project cycle, from lead management till the project handover seamlessly, to enable the business success.
With over a decade of expertise in executing 1000+ Interior projects, we present the time-tested practices as robust SaaS tools available in the platform for every business house.
Are you running Interior Business? Join now and subscribe to the KM-CRM to increase your business, effortlessly!
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(Before you begin, you need to know what your product is, what are its features, what is the problem being solved by your product?)
Konnectmojo is a platform available as mobile app and web portal, with fundamental modules like
1. KM-CRM - lt consists of features like
1. Lead management,
2. BOQ preparation,
3. Proposal generation,
4. Project Tracking and Management,
5. Invoicing
exclusively designed, developed and available for Interior Businesses to manage their lead-to-project handover cycle at ease.
2. Job module - This provides the connectivity between the B2B members of this industry to post job, apply for job, and request for job. There are more than 40+ categories of members in the Interior fraternity who can be listed - tobe available on search - category wise, location wise and can be connected for the easier job execution. This would be the marketplace for workmen resources.
3. Product Listing - The supply vendors who provide the plywood, laminates, and hardware materials for the works to be exectued gets listed with a presentable portfolio and the option of request for quote, so that they are available on location wise search and the other business houses reach to them for the supply of the materials. This would be the marketplace for material resources.
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(Build your core value proposition by exact what your product does and what problem are you solving)
KM-CRM - Helps users to manage enquiries, the follow-ups made to them, generate BOQ and acquire the project order with less effort. It also enables the project scheduling, tracking and managing to complete on time and handover with a professional touch.
The core value is "not missing any prospect, also not missing any project completion"
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(Go and speak to different users of the product and the people in the chain: households buying the product, shopkeeper selling the product, churned users, users using competitors products. In case of B2B products identify the decision makers, the influencer, blocker and the end user)
For KM-CRM,
The key users are the Interior Design Business houses - Solopreneur, SMB, MSME in Interior Industry.
Though there are no straight competing products which are available exclusively for this industry, the business houses use mostly xl for all these requirements, or rarely products like zoho, and other crm tool
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(There are separate tables for both B2C and B2B products, put down your your ICPβs in a Table Format, use this as a reference.
This table makes it super clear for anyone to understand who your users are and what differentiates them)
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B2C Table
Criteria | User 1 | User 2 |
---|---|---|
Name | ||
Age | β | |
Demographics | ||
(refer the table below) | β | |
Need | ||
Pain Point | β | |
Solution | ||
Behaviour | ||
(refer the table below) | ||
Perceived Value of Brand | ||
Marketing Pitch | ||
Goals | β | |
Frequency of use case | ||
Average Spend on the product | β | β |
Value Accessibility to product | β | |
Value Experience of the product | β | |
Note: This is not an exhaustive list, you know your product better, add/remove as per the context! | β |
B2B Table:
Criteria | ICP1 | ICP2 |
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Name | ABC Interiors | Vibheesh |
Company Size | 4 to 8 people | Solopreneur |
Location | Chennai | Bangalore |
Funding Raised | Nil | Nil |
Industry Domain | Interior | Interior |
Stage of the company | Growth | Early |
Organization Structure | Hirearchial | Single |
Decision Maker | Owner | Owner |
Decision Blocker | Team - against change | Other similar Business owners not using any tool |
Frequency of use case | Regular | Regular |
Products used | xl | xl |
in workplace | β | β |
Organisational | β | |
Goals | 3 to 4 projects per month | 1 to 2 projects per month |
Preferred Outreach Channels | Digital, referral | Digital, referral |
Conversion Time | β | β |
GMV | β | |
Growth of company | Growing | Growing highly |
Motivation | β | β |
Organization Influence | Owner and Leader | Owner |
Tools Utilized in workspace | xl | xl |
Decision Time | 1 to 2 months | 1 to 3 months |
Note: This is not an exhaustive list, you know your product better, add/remove as per the context!β | β |
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we have multiple users of a product and not all of them can be our ICP for whom we make our strategies, we need to prioritize.
(use this ICP prioritization table)
Criteria | ICP 1 | ICP 2 |
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Adoption Curve | Low | High |
Appetite to Pay | Medium | Low |
Frequency of Use Case | High | Low |
Distribution Potential | High | High |
TAM | High | High |
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(begin by doing a basic competitor analysis)
Factors | Competitor 1 - xl | Competitor 2 - zoho | Competitor 3 | Competitor 4 |
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What is the core problem being solved by them? | Not customized to fit in the business requirement | Not customized to fit in the business requirement | ||
What are the products/features/services being offered? | just the spread sheet | highly comprehensive | β | |
Who are the users? | almost all professionals | few high end businesses who can spend time and money to customize | β | |
GTM Strategy | it is available | Well known | ||
What channels do they use? | Digital | Digital | ||
What pricing model do they operate on? | Subscription | Subscription | β | β |
How have they raised funding? | - | - | ||
Brand Positioning | β | |||
UX Evaluation | ||||
What is your productβs Right to Win? | Custom-made to fit the exact use-case. | Ease of Customisation | ||
What can you learn from them? | Technical advancement for the masses | Available for the mass |
(then try to understand the market at a macro level and evaluate the trends and tailwinds/headwinds.)
Now itβs time for some math, calculate the size of your market.
TAM = Total no. of potential customers x Average Revenue Per Customer (ARPU)
SAM = TAM x Target Market Segment (percentage of the total market)
SOM = SAM x Market Penetration/Share
TAM = All interior Businesses across India - minimum 1 Mn (10 lakhs Interior Designers)
10,00,000 x 25000/- = 25,00,00,00,000/-
Target Market = 10%
SAM = 2,50,00,00,000/-
Market Penetration = 10% of SAM
SOM = 25,00,00,000/-
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(keep in mind the stage of your company before choosing your channels for acquisition.)
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Channel Name | Cost | Flexibility | Effort | Speed | Scale | Budget |
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Organic | Low | High | β | |||
Paid Ads | High | Low | β | β | β | β |
Referral Program | Low | Low | β | β | β | |
Product Integration | Low | High | ||||
Content Loops | Low | High | β |
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Organic and Product Integration, as the cost is low and flexibility is high in both these, since the product is in PMF stage.
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(Understand the existing organic channel strategy for your product and highlight the success and failure thereon.
Provide your suggestions and devise new strategies.)
Step 1 β Conduct keyword research on Google, Amazon, Youtube, Quora etc.
Step 2 β Collate all your insights from all your searches.
We have not done any organic distribution so far, nor have we tried any product integration.
The plan for the way forward is as below:
Organic - searches would be mostly through google only mainly, as this industry is not greatly organized. Google keyword search list is taken and the prime words are shortlisted for the optimization.
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(Keep it simple and get the basics right)
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Step 1 β Nail down your content creator, content distributor and your channel of distribution
Step 2 β Decide which type of loop you want to build out.
Step 3 β Create a simple flow diagram to represent the content loop.
Can start promoting the blog writing in the platform by the Business houses, so that their interaction would get increased.
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(Understand what is already being done, what is working out well and what needs to be stopped)
Step 1 βDefine the CAC: LTV ratio. If your product has a healthy CAC:LTV ratio, proceed with paid ads.
Step 2 β What digital channels will you work with?
Step 3 β What will be your audience selection & creative strategy? (What you build in ideal customer profile should reflect here)
Step 4β Design the Ad Campaign
Step 5 β Frame the Ad Budget
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(Understand, where does organic intent for your product begin?)
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Step 1 β Understand does your product fit in?
Step 2 βDraw a possible flow of how the product will look like inside the integration.
Step 3 β Create a plan of multiple integrations that you could do.
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βProduct Integration -
Lead generation platforms like FB, Meta, Linkedin, Google ads, Click funnel, Zapier, Just dial, Indiamart
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(For B2B companies, if referral does not make sense you'll take a crack at a partner program for your product)
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Step 1 β Flesh out the referral/partner program
Step 2 β Draw raw frames on a piece of paper to get the gist.β
(Don't spend a lot of time on design. This is for you to communicate how the referral hook will look)β
Referral offers - credits to be earned by users while referring new prospects, which can be used for subscription renewal payments.
Partnering with big business houses to promote to their franchisees.
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βwe hope this helped you break the cold start problem!
Reminder: This is not the only format to follow, feel free to edit it as you wish!
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