If you were gathering customer insights about belts, would you rather interview someone using a belt to convey iron ore… or to hold up their pants? B2B customers can usually provide more insight than end-consumers due to greater knowledge, interest, objectivity and foresight. But these advantages are no advantage unless you use a B2B-optimized approach.
More in 2-minute video at 14. Understand your B2B advantages
Unlike many B2C benefits, e.g. amusement, comfort, and self-esteem, B2B customer benefits are usually measurable, economic and—wait for it now—predictable. This predictability means B2B suppliers who study customer outcomes, like a science, will be handsomely rewarded. B2B customers will eagerly help you… if you know how to ask them.
More in white paper, www.guessingatcustomerneeds.com
Many companies think they have learned about customer needs when they visit customers to validate their hypothesis or potential solution. They have not. They have learned about market reaction. To a single idea. Their idea. On top of this, it’s likely this customer reaction was distorted by confirmation bias.
More in white paper, www.b2btimingiseverything.com (page 15)
Some executives expect employees to deliver innovation-driven growth without investing in company-wide tools and skills. Either nothing changes, or employees run off changing things in random (Brownian motion) directions. Be intentional about what new behavior is needed, and take unwavering steps to drive it. Tip: Research shows that one of the strongest growth drivers is learning strong B2B voice-of-customer skills.
More in research report, www.b2bvocskills.com
Initially, you are aware of the first three, but completely unaware of the fourth—surprises. When you begin your project, list the first three, and try to convert A’s and Q’s into F’s. Then uncover the surprises through customer interviews, tours and observation. Seek to understand the first three, and discover the last one.
More in white paper, Innovating in Unfamiliar Markets (page 12)
You shift resources “up” by investing manpower earlier in understanding market needs. This lets you be more successful later in developing solutions. You shift resources “out” when employees spend less time talking to each other… and more time directly engaging customers, through interviews and tours. Develop new skills for this, and create a new company culture.
More in white paper, www.catchtheinnovationwave.com (page 6)
Your sales force should play a key role in innovation-focused interviews. But not by themselves. Unaccompanied sales reps seldom attract all the right customer contacts, and they’re not rewarded for the lengthy time horizons required. Besides, market-facing innovation requires central coordination, since a single sales territory won’t contain all the needed prospects. However, your sales force can play a critical role when it also becomes a learning force.
More in 2-minute video at 47. Make your sales force a learning force
If the customer felt they helped you with your interview, you probably wasted your airfare. But if they felt it was their interview, asked for a copy of the notes, and said you were a good meeting facilitator… you probably learned things your competitors don’t know. B2B insight skills are needed for this. Do your people have them?
More in e-book, www.reinventingvocforb2b.com (page 9)
Want to add employees who know your technologies and markets, can start work tomorrow, and cost nothing more? It’s easy: Just kill the dead-end projects that tie up half your resources. Free your people to work on projects your customers actually care about. It’s not hard to learn which projects to kill. In fact, strong project teams will halt weak projects on their own. Many will do this using the data-driven evidence that comes from market satisfaction gaps.
More in white paper, www.marketsatisfactiongaps.com
If your new product development process starts with your ideas—instead of B2B customers’ desired outcomes—your new product may be an answer to the wrong question(s). You’ll likely a) miss important customer outcomes, or b) misinterpret the importance of the customer outcomes you have identified.
More in white paper, www.guessingatcustomerneeds.com
If all customer outcomes in a market are either unimportant or already satisfied, you’ll see low Market Satisfaction Gaps. This is an over-served market, and there’s only one thing that makes these customers happy: Dropping your price. Race to more attractive markets and hope your competitors waste resources here. Have you identified your over-served markets yet?
More in white paper, www.marketsatisfactiongaps.com
Market segmentation is covered in every business curriculum, and for good reason. The best of the best, in every craft, maintain a focus on fundamentals. Consider that the great Tiger Woods continues to perfect his golf swing even as he approaches the end of his career. For innovation, few concepts are as fundamental as market ... Read More
Where else do you invest tens of millions of dollars in personnel, so that many can work diligently on answers to the wrong questions? If your firm is like most, one-half of your product development resources are working on projects that will be cancelled or fail to yield an adequate return. You can stop this innovation malpractice with the science of B2B customer insight. Specifically, you must stop projects from entering the development stage unless you have data-driven evidence of customer needs.
More in 2-minute video at 35. Insist on data-driven innovation
In concentrated B2B markets, the top ten buying accounts may represent 50-100% of the buying potential. Unlike B2C—with deep pools of potential prototype testers—B2B suppliers can wear out their welcome by lobbing sloppy “minimum viable products.” If you use Lean Startup, be sure to begin with proper B2B customer interviews.
More in white paper, www.leanstartupforb2b.com (page 7)