Using the business model canvas as a framework to think about the different parts of the product I want to build I came up with the basic premise of the product/business that I will create.
I used this document to help me think through the business model:
The target market for the diary study app is user researchers working in companies and as freelancers.
Diary studies are a great method for gaining a deep understanding into a user base or group of people but it is often difficult and burdensome to run diary studies as well as synthesize the data. This diary study app makes the planning and management of these studies frictionless.
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The app will be web based and integrate with email. Research participants will be able to use email or text messages to submit images or messages. The researcher will be able to see a collection of everything through an online web portal.
Customers will be researchers who will use this tool each time they run a diary study. They may do so 1-5 times/year. Each time a customer is running a diary study they will have access to 24 hour live support. When they are in-between studies they will have access to email support.
The diary study app will generate revenue from the researchers who use the app by charging for each diary study they run.
Eventually the app could manage incentives for study participants and their may be a revenue stream to gain from a cut of the incentive that the participant gets.
To build this product I will need a user experience designer and someone to build out the MVP and first iteration. I will need desk space and reliable internet to help me put this together. Software projects have the fortunate situation of being portable and low overhead so it would be possible to work from anywhere.
In order to develop this diary study app into something useful for researchers I’ll need to do the following:
– User research on researchers
– User testing for usability and value
– UX design, visual design and development
– Hire UX Design, and Developers
– Build a community of interested researchers
– Engage the community with beta testing activities
In order to gain some legitimacy in the research world I may want to partner with some key influencers in the research field. I would like to find some thought leaders and ask them to run diary studies using this app, review it and share it with their followers.
I will also need to build a partnership with a web hosting service or Amazon Cloud Services to host all of the content that is uploaded into the app.
I will also need a partnership with a payment processing service that will allow me to accept credit cards and other forms of payment from the researchers who use the product.
I will have various variable costs
– web hosting services
– research incentives (for my participants)