We all hear what we want to hear. So we should require unfiltered, quantitative Voice of the Customer data.
After presenting conclusions from months of Voice of the Customer research, a marketer’s boss said, “No… I think customers want this instead.” A terrible reaction, but why did it happen? The marketer had no hard data—just quotes, impressions and anecdotes. You’ll be more believable, confident and correct—with unfiltered, quantitative VoC data.
More in article, 5 Growth Risks You Can Stop Taking (Originally published in B2B Organic Growth Newsletter).
Problem 1—What’s the right question?—focuses on market needs. Problem 2—What’s the right answer?—is all about your solutions. Most companies put 90+% of project spending into Problem2, yet Problem 1 causes most new product failures. Hmmm… are you sensing a possible competitive advantage here? Will you explore it further? Will you seize it?
More in white paper, Catch the Innovation Wave (page 4).
As we begin training employees in B2B front-end-of-innovation skills, the business leader often asks, “Can you make the project teams go faster?” I understand this… but a better approach would have been to not dither away so many months making a decision to start training in the first place. Investing in such skills can never begin too soon.
Learn more about B2B innovation at www.theaiminstitute.com.
Cross “interview guide” off your packing list and add “digital projector.” The former indicates you—not the customer—will be guiding the interview. Not good. Project your notes and let the customer tell you their next problem or ideal state: You’ll learn what you didn’t know you didn’t know, they’ll correct your notes, and they’ll be much more engaged.
More in article, Why Advanced VOC Matters (Originally published in B2B Organic Growth Newsletter).
Many suppliers unwittingly detach from customers with a host of risky behaviors: 1) Asking customers to fill in boring questionnaires, 2) using interviews to “validate” their preconceived solutions, 3) failing to probe with insightful questions, and 4) neglecting to follow-up interviews with rich, ongoing engagement. Is it time to learn customer-engagement skills?
More in article, 5 Growth Risks You Can Stop Taking (Originally published in B2B Organic Growth Newsletter).
Do you think your competitors also plan to exceed market growth? So, all the competing suppliers plan to grow faster than the market they serve, year… after year… after year. As Dr. Phil would say, “How’s that been working for you?” Maybe it’s time for a different plan. A plan built on innovation, not hope… on well-grounded skills, not blue-sky spreadsheets.
More in white paper, Catch the Innovation Wave (page 4).
The data are in, the studies are done, and—put simply—customer-engaging VOC improves your bottom line. One study on innovation by Booz & Co. found this: Suppliers who directly engage customers enjoy three times the profit growth vs. those that do not. Want huge profit growth? Engage your customers. It’s not hard, but it is a different approach… even innovative.
More in article, Why Advanced VOC Matters (Originally published in B2B Organic Growth Newsletter)
Will you win because your R&D people are 20% smarter than the competition’s? If that logic sounds shaky, here’s a suggestion: What if your R&D worked only on problems customers truly cared about… while competitors kept guessing what to work on? Would that be a competitive advantage? This is easier than you think… but maybe you’d rather try to hire geniuses.
More in white paper, Catch the Innovation Wave (page 4)
When developing a product, you know what you know (facts)… what you think (hypotheses)… and what you don’t know (gaps). But breakthroughs usually come from what you didn’t know you didn’t know. Only your customers know this, so you must let them guide you. This provides the spark of innovation, which seldom occurs with old-fashioned supplier-led interviews.
More in e-book, Reinventing VOC for B2B (page 3)
We’ve coached hundreds of B2B new product teams and here’s the awkward reality: When teams begin using advanced methods to interview customers, they are usually surprised by what customers want. This means the teams had been planning on developing a product that interested them, not customers. This is a sobering experience. Have you had it yet?
More in article, The Cost Cutter’s Guide to Growth (Originally published in B2B Organic Growth Newsletter)
Unless your company has smarter employees, some inherent unassailable advantage, or a markedly different approach to satisfying customers… pesky competitors will always limit your growth. What if you and your competitors were all committing the same innovation errors… but you corrected them first? Good news: There is much to correct.
More in article, Seven Mistakes that Stunt Organic Growth
A proper product launch defines who to tell, what to tell and how to tell. You own who and what to tell, while your ad agency or PR firm should focus on how to tell. Hand them a strong Prospect Profile and Message Brief for “who and what.” Otherwise, they’ll waste your money guessing.
More in article, Stop Squandering Your Product Launch Budget (Originally published in B2B Organic Growth Newsletter)
It’s ironic: B2B customers have the only vote on whether our new product is any good. B2B customers want us to innovate on their behalf. B2B customers are eminently qualified to guide us. Yet many suppliers all but ignore B2B customers when developing their product concepts. Today, this is a global pandemic.
More in article, Is Your Innovation Supplier-Centric… or Customer-Centric? (Originally published in B2B Organic Growth Newsletter)
The average company only has a 25% success rate after it finishes its front-end work. With Six Sigma success, you’ve got three defects per million attempts… while your new product development is stuck at three defects per four attempts. Can you think of any other area in your company with this level of waste? Don’t let your competitors tame this frontier first.
More in white paper, Catch the Innovation Wave (page 3)
