Bring Your Own Case (BYOC): 9-Step Framework
I habitually analyzed a prospective client's situation and proposed a path forward. This approach helped me navigate sales conversations, win clients, and crack my PM interview to join FlexAI in 2024. Here are the steps you can use to create a similar case study. I cover its importance in the previous article.
You need 7 minutes to read this.
I first published this on www.sparkcreativetechnologies.com on Oct 14, 2024.
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Framework For Product Case Study With Examples
I walk through the framework in this article. Here I’ll show you examples of each step.
1 - Clarify The Situation
Determine the primary goal: is it to increase revenue, profits, or the user base (for network effects)? What is the desired outcome from the conversation?
Example:
Founding of ABC
Harshal’s Interview with CTO and team
Understand the industry, customers, and ABC’s positioning
2 - Identify The Users
Determine the end user and the buyer.
Who are our product’s target users?
Who uses products like ours but is not in our product’s target market?
Example 1 to identify users and then user needs:
Who are our product’s target users?
Researchers and Data Scientists
AI and ML Enthusiasts
Who uses ABC but is not in our product’s target market? These users need product close to them.
Professional Creatives
Gamers
Cryptocurrency Miners
Automotive Industry
3 - Identify User Needs
Understand the user's mindset, needs, and challenges. You can communicate these through needs, JTBDs, or customer journey map.
Example 1:
1 - Performance and Capacity:
For handling large datasets and complex algorithms.
Sub-need: Reliability and Uptime: reliable service as interruptions can cause significant setbacks. Continuous uptime.
2 - Cost Efficiency and Flexibility:
Flexible renting options to manage costs and scale operations as needed.
3 - Ease of Use and Support:
Businesses and Academic Users often prioritize user-friendly platforms with strong customer support.
Example 2 visualized.
4 - Identify Gaps Vs. Existing Products
How do users try to meet their needs? But, where are the gaps?
While it might be tempting to create a strawman version, I recommend building a steelman when possible. This approach increases your chances of success.
5 - Identify Feature Improvements
Identify gaps in user needs and suggest at least three feasible improvements. In some cases, the product may already exist, so focus on connecting the dots between product features and customer needs.
For example,
What features does our platform offer, and how do they address specific user needs?
6 - Execution Plan
Think of questions like, “What is the MVP and the MLP?” Sometimes for network-effect products, your technical execution plan will overlap with your go-to-market plan.
Example for an AI infrastructure startup:
If network effect feature: Find the smallest atomic network and a way to gate access to just them.
Reduce dimensions of problem: Rent GPUs with commitment from ABC to convert the 2-sided marketplace problem to 1-sided.
Launch feature that provides value to practitioners without network effects.
Example 1: Layer to maximize their hardware utilization. Bonus: Doesn’t require us to provide the hardware.
Example 2: Recommended decisions for choice of ancillaries
First feature: Have a CLI tool to know whether ABC is compatible with XYZ?
For a marketing project, your execution plan will focus on the ad campaign, content strategy, and more. Example:
Legal and Domain Setup: Register business, obtain virtual business address, register DBA, and purchase domain.
Website Development: Create a Wix website, including privacy policy, terms and conditions, and develop a logo.
IT and Email Configuration: Set up Gmail, verify insurance for Google Ads, and configure Typeform, Unbounce, and Mailchimp pricing plans.
Landing Page Design: Use Unbounce for creating multiple landing page variants, including the homepage.
Analytics and Measurement Tools: Set up Microsoft Clarity, Google Analytics, Google Search Console, and a metrics dashboard.
Google Ads Strategy: Run a test campaign to identify ineffective keywords with controlled cost-per-click and budget over a few weeks.
Customer Engagement: Solicit customer testimonials from over 66 customers and implement Smile for capturing user reviews.
Weekly Optimization: Regularly update copy and images on landing pages and ads.
Advertising Expansion: Extend to more ad formats including Google visual ads and Meta ads.
Content Strategy: Develop and execute a content plan targeting SEO, publish 40 blog posts, and manage affiliate websites.
Another inorganic growth example below.
Another example marketing execution plan:
Goal: customer acquisition while keeping customer retention high. Don’t want a leaky bucket. So prioritize any onboarding issues highlighted.
1 - Customer stories: Reach out via Slack connect. Talk to 20 customers to get testimonials and case studies. Add to website.
2 - Quantify the benefit of using ABC over DIY
3 - Technical content: ABC has a list of technical blog ideas. I can implement them or get those implemented. Requires walkthrough by founding team. Can voice transcribe to create blogs.
4 - Home page: Make self service sign up easier to discover on home page.
7 - Go-To-Market Plan
Answer questions like:
Where do customers typically search for solutions to their needs?
Based on this, how will they find your product?
What steps are required to offer your product on that platform?
For a GTM plan, you need to understand the customer journey map or funnel.
Here’s an example summary GTM plan for a side-car pre-MVP product:
Here’s an example of a customer journey map to drive traffic to a website.
8 - Metrics And Counter-Metrics
Determine how you will measure success. Look at metrics and counter-metrics.
Counter-metrics provide insights into a particular action or metric's negative impacts or unintended consequences. They act as a balance to primary metrics by shedding light on areas that may be overlooked or negatively impacted by focusing solely on the primary metric.
Example 1 for a startup product role:
Target moving these KPIs for customers:
TCO reduction for ABC (niche: DEF, not XYZ)
Reduce development time
Increase the number of experiments at same cost
Example 2 table with metrics buckets in different categories for a marketing strategy discussion.
I found a simple example about counter-metrics:
Success Metric: Customer Acquisition Rate. This metric measures how quickly a SaaS product is gaining new customers.
Counter Metric: Customer Churn Rate. A high churn rate could offset gains in customer acquisition, indicating potential issues with product satisfaction or value delivery.
9 - Evaluate Risks And Trade-Offs
Choosing one feature over others comes with trade-offs. Example 1 of evaluating risks and trade-offs for a pre-PMF startup:
Risks:
ABC and DEF marketplaces meet customers' need to rent ABC by the hour. So, we focus on technical innovation, not discounted pricing.
Customers’ care about saving time using ABC, not saving money while building a feature for more revenue. So, we focus on that benefit.
We launch a pay-as-you-go pricing model for pricing flexibility. This results in unpredictable revenue, so harder to convince investors for next funding round. And harder revenue projections. We also attract low CLTV customers.
Trade-offs:
Launching a product without a network effect makes it easier to adopt (increased customer acquisition), but it lowers customer retention compared to a network effect product.
We launch a low-margin product and get low CLTV individual users at high CAC.
Example 2 of evaluating risks and trade-offs for a marketing strategy:
Risks
Higher CPC on adwords
We will not get traffic boost if do not get backlinks
Lower % CTR because only sometime in lifecycle of company
Do not convert after landing on our home page.
Our retention will drop from 100% as the top of funnel widens.
Trade-offs
Ads are not viable for long-term, but content takes long-time for initial results.
Customer stories don’t generate immediate value, but doing them first enables high CTR and conversion from later milestones.
Using Case Study In Your Job Search
Ready to stand out in your next job application? Start by creating your case study using the framework and examples provided.
If you'd like more personalized guidance or have specific questions, don't hesitate to contact me directly at sparkcreativetechnologies.com.
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