Awkward Reality #508

Jump the “triple hurdle” for higher new product pricing: Important… Measurable… Distinctive.

508-Hurdles

Customers only pay a higher price for your innovation if it is important, measurable, and distinctive. The customer must a) care about the outcome being improved, b) observe the improvement so you get credit for it, and c) be unable to get the same improvement from your competitors. Sorry, but you need all three.

More in 2-minute growth video #34, Use value calculators to establish pricing

Awkward Reality #507

The key lesson of war has been described as “concentration of force against weakness.”

507-Force-Against-Weakness

Let’s substitute market research for reconnaissance… business strategy for battle plan… resource allocation for troop deployment. Many business leaders fail to 1) thoroughly understand their battle fronts, 2) determine the decisive points (markets) to attack, and 3) follow with an overwhelming assault here. These generals lose battles.

More in 2-minute growth video #17, Concentrate on winning markets

Awkward Reality #506

Unlike other areas of business, surprises are welcome when you’re developing new products.

506-Welcome-Surprise

Surprises in quality or cost control are unpleasant. But innovation relies on surprises. Without “non-obviousness,” an invention cannot even be patented. When a previously hidden customer outcome becomes known, the discovering supplier has the luxury of seeking solutions in a competition-free environment.

More in 2-minute growth video #25, Let your customers surprise you

15 Practical Tips for Better Product Design

women designers.small

The appearance of a product is a pivotal factor in its success for several reasons. Firstly, it’s often the first point of interaction between the product and the consumer. A product’s look can communicate its quality, usability, and the brand’s values. A compelling design in a market saturated with options can make a product stand ... Read More

Awkward Reality #505

Missing sales quotas? Perhaps AI can help you prepare better.

skeptical interviewer looking at interviewee

The research on B2B sales call preparation isn’t encouraging: 75% of B2B executive buyers say salespeople are not knowledgeable about their business… and do not understand the issues they face.  Unsurprisingly, only one in four salespeople get agreement from these buyers to meet again.  AI can help salespeople prepare in two ways: 1) rapid pre-call customer reports, and 2) role-playing their conversations with an AI agent.

More in white paper, Sales Call Preparation with AI

Awkward Reality #504

Awkward Reality #503

Awkward Reality #502

There are many ways to improve product development that are popular… and proven to fail.

thinking and results feedback loop

One is throwing more money at R&D in a Soviet-style arms race. Another is exhorting the troops to do better. An all-time favorite is asking tough project-review questions… but not training teams in the skills needed to find the answers. What if all your teams had the highest possible skills in understanding customer needs? Might this work better?

More in e-book, Reinventing VOC for B2B

Awkward Reality #501

The best value propositions aren’t created by suppliers… they’re discovered.

Surprised Boy Makes Money with Idea Helmet

Ever watch stage-gate reviews or entire workshops wrestling with The Value Proposition? It’s not pretty. In my experience, good B2B customer interviews yield potential value propositions like so many ripe apples falling from a tree. You just need to pick which to pursue. If you need to dream up value propositions, you’re climbing the wrong tree.

More in white paper, Guessing at Customer Needs

4 Ways AI can drive profitable growth

Using AI to drive profitable growth

Does your operating plan call for profitable growth in 2025? How will you achieve it? You could use your old playbook… or employ AI, arguably the biggest game-changer in decades. Let’s look at four ways to use AI for growth-driving competitive advantage. You can use AI to boost efficiency or effectiveness. Said another way, you ... Read More