Consider 3 phases of product development: front-end, development, and launch. You resolve technical risk in the development stage. Most companies resolve commercial risk during the launch stage. Big mistake. Nearly everything needed to resolve commercial B2B risk is knowable in the front-end.
More in white paper, Timing is Everything: Exposing Deep Flaws in B2B Innovation Today
I’ve seen many new-product teams foiled by organizational turmoil: A travel ban blocks customer meetings… Spending freezes delay critical work… A reorganization creates uncertainty until the “dust settles”… New initiatives overshadow their project… Key team members are given new assignments. Success requires persistent focus.
More in article, The Inputs to Innovation for B2B
The key to successful B2B innovation and organic growth is understanding customer needs—their desired end results—better than competitors. There’s a science to this, with nine steps. It’s like turning up the magnification of your microscope on outcomes at ever-increasing levels. You should try it.
More in white paper, Timing is Everything: Exposing Deep Flaws in B2B Innovation Today
Developing B2B customer insight skills for this growth requires a commitment your competitors may be unwilling to make. Good. You need them to remain shortsighted. As you gain insights, you may enjoy a bonus: Customers are impressed with suppliers that listen to them… and often offer near-term adjacent opportunities.
More in white paper, Catch the Innovation Wave (page 15).
Most B2B companies don’t test market needs until they launch their products… to see if anyone buys them. Imagine using a medieval catapult aimed at customers: “You’ll love this next one.” Future companies will laugh at how we failed to understand B2B customer needs in the front end of innovation.
More in article, Why will future companies laugh at us?
Keep your process… but don’t expect a neat, linear progression for all projects. Product development is like preparing a fine meal: There’s a messy kitchen somewhere. Look at the unpredictable, messy paths of your own company’s earlier blockbuster products. You need nimble, open-minded teams to complete such journeys quickly.
More in e-book, Reinventing VOC for B2B
A market segment is a “cluster of customers with similar needs.” Most B2B companies fail to focus their resources on those segments that are winnable and worth winning. They don’t follow the #1 lesson of war: “concentration of force against weakness.” Instead, they spread their forces too timidly and evenly.
More in article, How’s Your Market Segmentation?
Should your employees learn customer insight skills from an external firm… or should you develop home-grown training? If the external firm has worked with many companies across many global industries, it will probably advance these methods faster and further than you can. Think of them as the golf club maker. The glory belongs to the golf pro… so focus on your practice time, coaching and desire as the pro… not in making clubs.
More in article, B2B Leadership: Time for Greatness
Most B2B companies have enormous insight advantages, because their customers have high knowledge, interest, objectivity, foresight and concentration.
Check out this free service to score your market’s B2B Index. You’ll see “how B2B” your market is… and learn how to take advantage of your B2B advantage.
“Market Growth” is the tide that lifts all boats… your reward for being just average. “Inherited Growth” comes from great products developed long ago. These are the gifts that keep giving… until they don’t (when you’ve been commoditized). The only one you control is “Earned Growth,” when you understand and meet customer needs better than anyone else.
More in article, The Inputs to Innovation for B2B