Customer Insights (VOC) Archives - Page 11 of 30 - The AIM Institute Is Your Innovation Supplier-Centric… or Customer-Centric?

Blog Category: Customer Insights (VOC)

Are you taking advantage of these 7 Design Thinking benefits?

382-Seven-DT-Benefits

If you haven’t explored Design Thinking for your product development yet, I highly recommend you do. It brings seven important benefits: 1) stronger value propositions, 2) rapid customer insight, 3) improved customer engagement, 4) potential for transformational innovation, 5) less squandered R&D, 6) reduced commercial risk, and 7) the erosion of functional silos.

But if you’re a B2B company, don’t simply use Design Thinking as it’s taught in design schools. You can optimize it for B2B, especially the first two steps, “empathize” and “design”… using B2B-optimized Discovery and Preference interviews.

More in white paper, Design Thinking Optimized for B2B

Why Advanced Voice of Customer Matters

Advanced Voice of Customer vs Voice of Ourselves

Far too many B2B customers are still using “Voice of Ourselves” for product development. Diagnose your VOO vs. VOC behavior in 10 areas: 1) interview scope, 2) interview objective, 3) types of questions, 4) note-taking, 5) interview skills, 6) observation skills, 7) companies interviewed, 8) deliverables, 9) engagement timeframe, and 10) interviewing staff. ... Read More

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

381-Hired-Guns

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.

380-Faster-Horse

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

Want to optimize Design Thinking for your B2B business?

376-Design-Thinking-Steps

Design thinking is a powerful methodology for solving “wicked problems.” Unlike the well-stated problems we were given to solve in engineering school, these require figuring out what to work on, not just how to solve the problem. This perfectly describes real-world new product innovation, where we need to first understand customer needs.

As this diagram shows, the first two steps are “empathize” and “define.” Here’s the good news for B2B producers: You can do this much more effectively that B2C counterparts by using Discovery interviews (for “empathize”) and Preference interviews (for “define”). Check out this white paper to see why… and how: Design Thinking for B2B

Is in-person voice-of-customer superior to virtual VOC?

375-Virtual-Discovery-Interview

In general, we do consider in-person interviews to be the gold standard. But there are 10 advantages of virtual VOC you shouldn’t overlook: 1) lower cost, 2) reaching dispersed customers, 3) viewable probing tips, 4) training for colleagues, 5) probing suggestions, 6) assistance for note-taker, 7) rapid de-briefing, 8) easier scheduling, 9) low-impact cancellations, and 10) greater project speed. To maximize effectiveness and efficiency, you’ll be wise to blend and balance both types of VOC. (See 2-minute video, Conduct virtual customer interviews.)

More in white paper, Virtual VOC

Target Customer Needs and Win

Bigger-payload-vs-better-targeting

How critical is it to target customer needs? Imagine three situations where you might face the question of a bigger payload vs. a better targeting system: missiles, cancer treatment and gold mining. A bigger payload would be a larger warhead, radiation dosage and backhoe shovel. Better targeting would be more precise hits on enemy positions, ... Read More

Constraints to Organic Growth

Organic Growth Constraints: Penny Pinching

Most B2B companies struggle with organic growth because they don't rationally deal with these 5 harsh realities. This article compares the futility of “penny pinching” in the front end of innovation… to the way DuPont invested in New Product Blueprinting training. ... Read More

Design thinking… a great mindset for innovators focused on customer needs.

370-Design-Thinking

Design thinking isn’t new: The concept was first introduced by Nobel Prize laureate Herbert A. Simon in his 1969 book, The Sciences of the Artificial. It’s been “catching on” more and more in new product development circles, which is a very good thing. My favorite part is that it doesn’t start with well-defined problems, like the ones we were handed in engineering school. Rather, it’s a user-center process that encourages us to enter the customers’ world and understand it better. Especially their desired outcomes. This graphic shows the differences.

More in white paper, Design Thinking Optimized for B2B

Is there an innovation metric to improve customer insight?

369-Commercial-Confidence-Index

Yes, it’s called the Commercial Confidence Index (CCI), and it’s easy to calculate: Step 1: Record your annual R&D spending for each significant product development project. Step 2: For each project, ask if you have quantified evidence of customer needs, e.g. Market Satisfaction Gaps. If “yes,” the project goes in the “Known Need” bucket. All others go in the “Assumed Need” bucket. Step 3: The CCI is your annual R&D spending on Known-Need projects divided by annual spending on all product development projects.

More in 2-minute video, Employ new growth metrics

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

preload imagepreload image