Awkward Reality #547

What really drives your new product pricing? Perhaps not what you think.

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Many think new product pricing is determined by how much value a supplier delivers to customers… but that’s not strictly true. Pricing is driven by customers’ perception of value delivered. Therefore, you need to give prospective buyers a value calculator or similar tool, so they can see how much money they’ll make or save.

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

Awkward Reality #546

Should you take a Do-It-Yourself approach to customer insight?

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B2B producers often take a DIY approach, while B2C marketers hire research firms. Why? For one thing, consumer products often have bigger annual revenues: Think of all the small B2B parts in a big-ticket item like a smart phone. For B2C it’s all about that launch. But B2B companies often “turn the crank” on many smaller new products… so it’s economical to develop in-house expertise.

More in 2-minute growth video #32, When to use “hired guns” for VOC

Awkward Reality #545

Awkward Reality #544

Don’t rely on “hired guns” to understand B2B customer needs.

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Professional interviewers can be helpful at times… but ultimately, customer insight skills are a competitive edge your company should own. Your B2B customers want to talk to the people who will innovate on their behalf… not some note-taking middlemen. And there’s nothing quite like hearing new customer insights first-hand, is there?

More in 2-minute growth video #32, When to use “hired guns” for VOC

Awkward Reality #543

When it comes to B2B customer needs, uncertainty exists in suppliers’ minds, not customers’.

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Many ventures try to create new products or services under conditions of market uncertainty. This is a huge challenge for B2C. But uncertainty does not exist in the minds of most B2B customers… who have great knowledge, interest, objectivity and foresight. If you know how to access this, your supplier uncertainty will plummet.

More in white paper, Lean Startup for B2B (page 12)

Awkward Reality #542

You can’t live in customer outcome space… but you should be a frequent flyer there.

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Understand customer outcomes thoroughly before entering solution space. The drill bit is the supplier solution; the hole is the customer outcome. For every job, there are scores of outcomes your product could deliver… how fast the hole is drilled, how accurately, how easily centered, how much mess is created, etc. Outcome insight leads to solution brilliance.

More in 2-minute growth video #22, Immerse your team in customer outcomes

Awkward Reality #541

What’s the impact of B2B-optimized customer interviews on product design?

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We asked how much B2B-optimized interviews impacted teams’ designs for the products they were developing. Five out of six teams said the impact was “great” or “significant.” Hmmm… makes you wonder what those products would have looked like without these interviews. Do you think your new products could be improved this way?

More in white paper, Guessing at Customer Needs (page 2)

Awkward Reality #540

AI can help you build sales probing skills asynchronously.

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The only way to master a new skill is with practice, practice, practice. Until now this required “synchronous” coaching… a human coach advising learners on a real-time basis during a workshop. But now AI agents can coach you “asynchronously” any time you want, on any offering and customer job-to-be-done, with the same—or possibly higher—level of advice you’d get from a human coach.

More in white paper, Sales Call Preparation with AI