We started with an opportunity, a rough idea of a solution and an estimated market size. The way forward was to first understand the problems of our customer segment. We recruited and interviewed a number of new electric car owners from the UK, which gave us authentic insights into the pains and challenges facing existing and potential new electric car owners. In addition to primary customer research, we looked at online communities (discussion forums and social media) to identify patterns in the kind of information users are looking for, what types of questions they ask and their overall experiences with owning an electric car.
In the next step, we did an in-depth competitor analysis to find out who the key players in the field are and assess their threat level. By utilising the Strategy canvas framework we were able to better understand which are the competing factors and find a unique value proposition for our potential customers.
> Find your Unique Value Proposition by using the Strategy Canvas
Armed with all the learnings combined, we prepared an investment deck that summarised the product promise of an all-in-one solution for EV ownership, with key revenue-driving pillars (Rent, Charge, Insure, Sell and Community).