It’s ironic: B2B customers have the only vote on whether our new product is any good. B2B customers want us to innovate on their behalf. B2B customers are eminently qualified to guide us. Yet many suppliers all but ignore B2B customers when developing their product concepts. Today, this is a global pandemic.
More in article, Is Your Innovation Supplier-Centric… or Customer-Centric? (Originally published in B2B Organic Growth Newsletter)
The average company only has a 25% success rate after it finishes its front-end work. With Six Sigma success, you’ve got three defects per million attempts… while your new product development is stuck at three defects per four attempts. Can you think of any other area in your company with this level of waste? Don’t let your competitors tame this frontier first.
More in white paper, Catch the Innovation Wave (page 3)
Your product launch budget will stretch much further when you understand your industry position on this matrix… based on the number of customers in your target market and your current supplier position. And AIM’s 2-Question Launch Survey will focus your spending for optimal efficiency. ... Read More
Companies like to talk about the voice-of-the-customer, but most just listen to themselves as they create “conference room” products. The team gathers internally to decide for the customer what they’ll want in a new product. This team will always lose to the team that immerses itself in the customer experience, and designs a product to improve that experience.
More in article, Why Advanced VOC Matters (Originally published in B2B Organic Growth Newsletter)
Imagine your doctor entered the exam room, saying, “I’ll ask some routine questions to validate my hunch… so I can start treatment.” Would he be your doctor for long? Wouldn’t you rather have a doctor who listens first and asks intelligent questions? Your customers feel the same way, so leave your hypothesis in the waiting room and start engaging them.
More in executive briefing, Seven Mistakes that Stunt Organic Growth
Do you like to answer surveys at home? How about at work? How do you think customers feel about filling in your questionnaire? Forget your list of brilliant questions. Instead, learn to brilliantly probe whatever customers want to tell you. You’ll be rewarded by customers who actually want to talk to you.
More in e-book, Reinventing VOC for B2B (page 2)
New Product Success is a metric for current projects. Learning Success—which measures skill-building progress—is a metric for future projects. Most companies just consider New Product Success. Worse, they only look at ultimate metrics, e.g. sales. If they also used intermediate metrics, they’d have enough time to apply what they learned from these metrics.
More in article, 3 Problems with Innovation Metrics. (Originally published in B2B Organic Growth Newsletter)
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.
More in executive briefing, Should Your Stage-Gate® Get a No-Go?
Unlike innovation, quality and productivity apply to current operations and yield diminishing returns. What do you do after you reach zero defects… or your factory is being run by the proverbial “man and a dog”? (The man feeds the dog; the dog bites the man if he touches the controls.) Customer-facing innovation is different. There is no limit. Just look at Apple Computer.
More in white paper, Catch the Innovation Wave (page 2)
It was designed to manage the interface between project teams and your company… for portfolio analysis, resource planning, risk reduction, tracking, etc. Fine, but you also need to improve the interface between teams and customers. Competitive advantage in customer-facing innovation requires skills and tools your competitors lack.
Learn more about B2B innovation at www.theaiminstitute.com