While VOC is extremely important, the most overlooked practice in B2B product development today is competitive benchmarking. This should be done in the front-end of innovation using 4 steps: 1) Identify outcomes to benchmark, 2) Identify customers’ alternatives, 3) Identify test methods, and 4) Identify benchmark levels (how good is good enough?) ... Read More
Well, isn’t that inspirational? Perhaps not… but remember you’re in a constant battle with competitors to innovate for customers. One of the best ways to tip the “efficiency” balance in your favor is to consistently learn when projects are unattractive… before competitors. Then decisively kill them so resources can be used for winning projects.
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For every job a customer does, there are dozens of potential outcomes… so diverge with customers to uncover far more than competitors. Then ask for 1-10 importance and satisfaction ratings so your R&D can converge on the important, unsatisfied outcomes… while competitors guess. I’d like to make this sound more complicated, but it’s not.
More in white paper, Timing is Everything (page 8).
Innovation is fueled by the unexpected. But many suppliers are surprise-averse. They start with their own ideas, filter them through internal processes, and avoid customer-led interviews. In an odd twist, surprise-averse suppliers are the most likely to be surprised… by mistaken market assumptions and blockbusters introduced by surprise-seeking competitors.
More in white paper, Catch the Innovation Wave (page 10).
When you validate your new product concept with customers, they may tell you if it’s a dud. Great… you’ve avoided the error of commission. But what about the error of omission? If you first enter the customer’s world with B2B divergent interviews, you might learn of unexpected needs that lead to a blockbuster.
More in white paper, Lean Startup for B2B (page 9).
Innovating companies that directly engage their customers have operating income growth rates three times higher than those that do not. When you see a gulf of 3X, it should scream “opportunity!” Gaining customer insight in an engaging manner may be commonplace in the future, but today it’s a competitive advantage. Will you seize it?
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