Awkward Reality #449

A customer outcome is like a scientific specimen, waiting to be examined and understood.

449-Scientific-Specimen

Great value propositions begin and end with customer outcomes. It’s like collecting specimens, sliding them under your microscope, and continuing to turn up the magnification. The careful researcher doesn’t have to agonize over the right value proposition. It comes into increasing focus, waving its arms and screaming to be addressed.

More in white paper, www.b2btimingiseverything.com (page 9)

Awkward Reality #448

You have two options: Ask for pricing decisions or understand customers’ pricing decision making.

448-Price-Decision-Making

You can ask for pricing decisions using a survey, e.g. Van Westendorp. But it’s hard to get a straight answer in concentrated B2B markets: They know they’ll be negotiating prices later. Better to understand the customer’s world so well you can create a value calculator… to model their pricing decision-making. You’ll have longer-lasting insights vs. a one-time survey.

Awkward Reality #447

Awkward Reality #446

Be grateful for B2B customers… and thankful your competitors don’t understand them. Do you?

446-B2B-Customers

If you were gathering customer insights about belts, would you rather interview someone using a belt to convey iron ore… or to hold up their pants? B2B customers can usually provide more insight than end-consumers due to greater knowledge, interest, objectivity and foresight. But these advantages are no advantage unless you use a B2B-optimized approach.

More in 2-minute video at 14. Understand your B2B advantages

Accelerate VOC interviews with AI (and 6 other tips)

Accelerate-new-product-VOC-(banner)

What if you could finish your voice-of-customer interviews in just a few weeks, not months? We’re talking about incredibly thorough qualitative and quantitative interviews. You’ll have irrefutable evidence that eliminates most commercial risk. You’ll know exactly which outcomes the market does and doesn’t want you to improve. And you’ll have it FAST. Here’s the good ... Read More

Awkward Reality #445

A value proposition is simply improving important outcome(s) for customers’ benefit.

445-Improving-Customer-Outcomes

Unlike many B2C benefits, e.g. amusement, comfort, and self-esteem, B2B customer benefits are usually measurable, economic and—wait for it now—predictable. This predictability means B2B suppliers who study customer outcomes, like a science, will be handsomely rewarded. B2B customers will eagerly help you… if you know how to ask them.

More in white paper, www.guessingatcustomerneeds.com

Awkward Reality #444

Keep a straight face if you say, “This is the most important quarter in our company’s history.”

444-Quarterly-Report

Of course, employees will be laughing; they’ve heard this one before. When satisfying the expectations of Wall Street analysts conflicts with building the firm’s long-term competitive strength, guess which usually wins? Any employee who’s been through travel restrictions, investment delays, hiring freezes, etc. knows the answer.

More in 2-minute video at 5. Shareholder wealth is a poor goal

Awkward Reality #443

Validating your hypothesis with customers doesn’t tell you about market needs, just market reaction.

443-Validate-Hypothesis

Many companies think they have learned about customer needs when they visit customers to validate their hypothesis or potential solution. They have not. They have learned about market reaction. To a single idea. Their idea. On top of this, it’s likely this customer reaction was distorted by confirmation bias.

More in white paper, www.b2btimingiseverything.com (page 15)

Awkward Reality #442

Never rely on Brownian motion for change management.

442-Brownian-Motion

Some executives expect employees to deliver innovation-driven growth without investing in company-wide tools and skills. Either nothing changes, or employees run off changing things in random (Brownian motion) directions. Be intentional about what new behavior is needed, and take unwavering steps to drive it. Tip: Research shows that one of the strongest growth drivers is learning strong B2B voice-of-customer skills.

More in research report, www.b2bvocskills.com