Portfolio management links strategy with execution for new product development. A Voice of the Customer program maximizes ROI for all new product initiatives, whether incremental or breakthrough. ... Read More
Analysis looks for what has been done wrong; discovery for what could be done right. Failing to discover opportunities is a costly error. Paradoxically, it is most often forgiven. In fact, if your team fails to develop a blockbuster because it missed a critical customer need, no one will even notice. At least not until a competitor does a better job. This is called an error of omission and it’s a serious problem for many B2B companies.
More in 2-minute video at 25. Let your customers surprise you
Modern “Jobs-to-be-Done” (JTBD) thinking began with the most popular HBR article ever written: Ted Levitt’s “Marketing Myopia.” It begins this way: “Every major industry was once a growth industry. But some that are not riding a wave of growth enthusiasm are very much in the shadow of decline. Others, which are thought of as seasoned ... Read More
What if you could turn B2B product development into a science? What if you searched for the causes of new product failures as you would for problems in chemical reactions or manufacturing steps? Now you can. We’ll use our “triple diamond” of NPD to examine all 6 steps you must do well to ensure success. ... Read More
In a concentrated market—where there are relatively few customers—B2B innovators should pursue customer engagement as well as market insight. Practical ways to do this include keeping customer objectives in the center, ensuring the interview process is a professional experience, and continuing to engage the customer after the interview. ... Read More
This AIM Institute article shows research by Dr. Robert Cooper explaining the power of voice-of-customer. Of 18 sources for new product idea, the 8 VOC methods studied took 8 out of the 9 spots in this survey of 150 firms. ... Read More
Congratulations! You’ve been promoted! On your first day as a new B2B exec, your company’s Director of Public Relations wants to chat. Something about a press release. She says you’ll want to address stockholder concerns. To provide hope despite the weak economy and sluggish sales. To give a reason to believe. A reason to have ... Read More
If you are using older voice-of-customer methods (e.g. DFSS or QFD), you’re sub-optimizing. For B2B your methods must achieve 3 goals: 1) collaborate deeply, 2) pre-sell your innovation, and 3) maximize “value capture.” Four B2B approaches are explored here. ... Read More
If we bring a prototype to a customer, this is “concept testing.” Something different from voice of the customer research. But when definitions are not understood, these become conflated and we fool ourselves into believing that we’re more customer-centric than we really are. This confusion results from how innovation and new product processes have evolved. ... Read More
This mantra guides the decisions of the business masses. But is it right? Peter Drucker didn’t think so. He said the primary purpose of a business is to acquire and keep customers. I believe increased shareholder value is a good result, but a lousy goal. You’ll have better results if your goal becomes: “Understand and meet the needs of our customers.”
More in 2-minute video at 5. Shareholder wealth is a poor goal
New Product Blueprinting's B2B-specific methods provide the inputs for organic growth. Avoid these blunders when executing Step 2, Discovery Interviews. ... Read More
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
In a complex system—like your business—every action leads to a second-order effect (SOE). Some are unknowable. Others are easily predicted but routinely ignored by business leaders. We’ll explore success-stunting SOE’s you should avoid… and a 5th order plan for your B2B organic growth. A college student studies hard, gets good grades (second-order effect), and begins ... Read More
Here’s the scene: You are a B2B business leader unhappy with your membership in the Shareholder Appeasement Club and its quarterly meetings. You want profitable, reliable growth so you are free to captain your ship, not some Wall Street analysts. But what should you do—not in the abstract—but in concrete, actionable steps? Before exploring admission ... Read More