Anthony Pieri (27:11)
Yeah, a lot. It's loosely based on that. But for us it's really about the messaging elements. And we talked about, we had a post once where we had a periodic table of messaging elements and things like that. We're getting all clever and stuff, but ultimately it's like, what does it take to write a value proposition end to end. What are the pieces that you actually need to know? So we have several components and I can list them off quick for us. When you think about a customer segment, it really has like five or six different things within it. One, what type of company are we talking about? So company type, that's one of our blocks. Two, what's our Persona that we're targeting? And we use that word. We've called it Persona, we've called it champion. It's essentially like who's the person that's going to be most interested in pushing this deal through, Knowing that the vast majority of B2B SaaS deal cycles are 6 to 12 months. Who's the person that we want to get involved early on, who's going to help us meet with procurement and legal and their boss and their boss's boss and the technical buyers and everything. You have to find someone that you're going to target specifically and that person's usually on like a team. So the level of specificity is sort of dictated by the product and the willingness to go more specific of the founders and the heads of marketing. So company type, Persona or champion. And then the piece where it gets a little bit more interesting is we've had this box for a long time. We've named it 25 different things. Essentially we've been calling it more often the situation and it really falls into one of two buckets. We frame it as I'm trying to do blank and that could be I'm trying to do a specific set of activities, I'm trying to schedule a meeting with someone online. It also could be a desired outcome. I'm trying to increase conversions on my website. So this box, it's like sometimes you would see it as like the job to be done box. And but even jobs has its whole own history and stuff that we've stayed away from calling it that. So you have a type of company, you have a person in the type of company who's in a specific situation trying to do something. And then there's one level deeper which we call it the current way, which is what tools, processes, how are they executing on that essentially situation box? What are they actually doing? And then from there what are the problems? What are the problems with doing it that specific way? So when you walk that out, that actually is what constitutes a segment and you can remove some of the elements and it'll be a little bit less clear. But an end to end segment of customers is both not just firmographic, specific user type but it's also what are they actually trying to do that's like what creates the opening for the use case of when a product would come into the picture and, and then what specific problems are they running into? So like, to give you an example, let's say you're a marketing head of marketing at a B2B SaaS company and what are you trying to do? You're trying to schedule meetings with other people that you're working with. Problem. You send emails to people they don't know your calendar, so you have to send back and forth and it gets really annoying to go back and forth. So like that market segment is a prime market segment for a product like Calendly, which we use currently, our business runs on Calendly for everyone to book it. So now when you've got the market side, now you have to say, okay, well what do I want to talk about on the product side? How do I want to actually connect product, market, fit? All that pieces is even in the name, right? Product marketing? How do we want to talk about the market? How do we want to talk about the product? What do we want to elevate to the top that's going to actually make this interesting? So rather than talking about features and benefits, which is essentially how most people talk about products, tell me about the features, tell me about the benefits. There's actually a third capability. So. So that's actually the word. The third thing is called the capability, which is essentially answering the question, what do I do with the product? The feature is like the technical aspect of something in there. Like it's usually like one or two words like notifications, a dashboard, analytics, those are like features. The benefits are the outcome of actually doing the capability. So for Calendly as an instance, the shareable booking link is the feature and the capability is what do I do with it is you let other people book time directly on your calendar. The benefit then is why would that matter? What would be the outcome that you're looking for? And it usually will be the inverse of the problem. So if the market segment, the problem is it takes so long to get meetings scheduled. The benefit of using a tool like Calendly is you can schedule meetings way, way faster, you know, so essentially on the product side you have feature capability, which is missing for most people's definitions. They usually are just features and benefits. What do I actually do with the product? Then you have the benefit, which is the outcome. And then really the last element on the product side, that often is a struggling point for early Stage startups is what product category are you in in the first place? And sometimes this could be a mix of multiple product categories. If you're doing something new, maybe it's a brand new product category or you exist in an existing category but you're modifying it in some way. Like TikTok. When TikTok comes out, they were in the product category of like video platform, but they carved out a sub niche, short form video and they dominated this whole space that was a subcategory of the big one. So product category, obviously it's a giant topic in and of itself.