Blog Category: Business-to-Business (B2B)

The B2B interviewer should have two goals: customer insight and customer engagement.

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Research shows the best way to sell a product is to probe customers’ needs. But why wait until the product is developed? If you probe beforehand, you’ll create a better product and “pre-sell” your product. This isn’t practical for interviewing millions of B2C toothpaste buyers, but it is for concentrated B2B markets. B2B engagement skills aren’t difficult. Do you have them?

More in 2-minute video at 29. Engage your B2B customers

What Drives B2B Organic Growth? Now we know.

What Drives B2B Organic Growth...Now we know

Want to drive rapid, profitable, sustainable growth at your company… and focus on what matters most? This original research taps over 10,000 years of combined experience from 540 B2B professionals. You’ll see which of 24 growth drivers they deemed the most important, and which they were most eager to improve. ... Read More

B2B vs B2C: Why B2B companies have advantages

B2B vs B2C

When you consider B2B vs B2C, which market profession has greater advantages? Business schools offer more B2C courses, consumer research tools abound, and sophisticated marketers at B2C companies like Apple and P&G are held in high esteem. B2B marketers are often engineers or sales reps that were tapped on the shoulder and told to “do ... Read More

Benchmarking for B2B Product Innovation

Benchmarking for B2B - Four Steps Needed for New Product Differentiation

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

Your B2B customers are smarter than you.

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It may be OK for consumer goods producers to guess their customers’ needs. After all, their product developers are end-consumers themselves. So if you’re an Apple engineer, you already know what consumers like you want in a mobile phone.

But your B2B customers know much more than you about their needs. If you make pigment, your customers know a lot more than you about the paper production it’s used in. Isn’t it silly to guess their needs when they’d love to tell you… if you asked the right way? That’s why you need to let the customer lead the interview, not you. Yep, you can put your questionnaire or interview guide away now.

More in e-book, Reinventing VOC for B2B

When should you use “hired guns” for customer interviews? Consider 4 factors.

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Are there times when you should use an outside firm—”a hired gun”—to conduct your interviews? Consider 4 factors: 1) Hired guns work well if you have a big budget and success is all about this very large product launch. 2) If you have millions of prospects, outside expertise can manage the sophisticated surveys and statistics needed. 3) If you don’t need to gain deep, first-hand insights, a marketing firm’s report is fine. 4) If you’re not already spending much direct face-time with customers, let a marketing firm conduct this market research.

In general, though, when you’re serious about bringing real innovation to a targeted market segment, your people should do the heavy lifting. Understanding market needs is a competitive advantage you shouldn’t try to outsource.

For more, see 2-minute video, When to use “hired guns” for VOC

Beware the “Faster Horse” fallacy.

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Henry Ford is often cited for a reason to not interview customers: “If I’d asked my customers what they wanted, they would have told me a faster horse.” But this is flawed thinking for B2B markets. There are indeed B2C cases where customers can’t tell you much about their needs. Ask me what I want in a video game, men’s suit, or snack food, and I’ll probably need to see a prototype. Then I can play with it, try it on, or taste it (hopefully in that order).

Besides, B2C company employees are end-consumers themselves… so they’ve already got a good idea what consumers want. Bottom line: Your B2B customer can absolutely tell you the outcomes they want (desired end results). Once you know the “what,” it’s up to you to figure out the “how” (your new product solution).

For more, see 2-minute video, Avoid the faster horse fallacy

How many “builders” do you know?

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A builder is someone who drives business growth by delivering real value to customers, brushing aside fads, short-term distractions, and financial gymnastics. Others are remodelers, improving efficiency, quality & costs…but if nothing new is built, they lead a race to the bottom. Others are decorators, trying to boost “curb appeal,” as they focus on quarterly financials. They’re engaged in a spectator sport, not a participant sport. Finally, some are realtors, reaping their rewards during M&A… when the work of others’ hands changes hands.

Does this mean you should forget about operational efficiency, financial reporting, or M&A? Of course not. But what is your passion? For the builder, it’s delivering customer value and driving organic growth over the years.

More in this 2-minute video, Be a business builder

B2B Leadership: Time for Greatness

How to become a great business leader

Read how great business leaders drive organic growth by shifting their balance in four areas: 1) Your job: from interior decorator to builder. 2) Your goal: from shareholder wealth to organic growth. 3) Your time horizon: from current year to the future. 4) Your focus: from results to capabilities. ... Read More

A Primary VoC Tactic: B2B Customer Tours

B2B customer tours

How valuable are B2B customer tours? Well – in the early 1980s, Eugene Goodson was the head of Johnson Controls’ automotive seating group, when a Japanese competitor requested a plant tour. The Japanese visitors spent less than one hour in the plant and took no notes. Harmless, right? Years later Goodson and his team were ... Read More