Market Satisfaction Gaps
With one simple change you can breathe new life into your new product success rate and organic growth. This “fix” only works if your company—like most—tolerates much commercial risk in the development stage (not just technical risk). In this white paper, you’ll learn how to create Market Satisfaction Gaps, how to use them wisely (with three cautions), and how they drive growth. Finally, you’ll see how to implement them using the Commercial Confidence Index—a powerful leading-indicator metric to supplement your new-product %-of-sales vitality index (a lagging indicator).
Preview: Market Satisfaction Gaps
Can one simple change drive unprecedented organic growth from your new product pipeline? This upgrade only works if you are making the same blunder as most B2B companies today…. one that future B2B innovators will surely avoid.
Here’s the test to see if you “qualify” for this upgrade: Do your development-stage projects carry considerable commercial risk, as well as technical risk? If they do, we have good news: Most B2B commercial risk can be eliminated in the front-end of innovation. And Market Satisfaction Gaps are the key to doing this.
We’ve worked with scores of Global 1000 companies, and initially see countless errors of omission and commission. Errors of omission occur when you fail to uncover unexpected, unarticulated market needs. But errors of commission—addressing the wrong customer needs—are even worse, leading to costly waste and missed opportunities. Will be it hard for you to avoid these errors? Not with Market Satisfaction Gaps, which are derived from quantitative Preference interviews. In this paper you’ll learn…
- How to create Market Satisfaction Gaps
- Three cautions when using Market Satisfaction Gaps
- How quantitative insight drives organic growth
- How to implement Market Satisfaction Gaps
Optimized B2B voice of customer (VOC) insight is rare because B2B marketers have historically followed the lead of consumer goods marketers. And B2C marketers learned long ago it wasn’t helpful asking end consumers “what they wanted.” Not so with your B2B customers. These engineers, scientists, and other professionals have high knowledge, interest, objectivity, and foresight. (See www.b2bmarketview.com.) They can absolutely tell you what outcomes they want, and you’ll use Market Satisfaction Gaps to document this.
Think of Market Satisfaction Gaps as a “language” for customers to tell you their needs with unprecedented clarity and precision. It’s a language based on simple math, but that’s not what makes this special. What makes it a game-changer is Market Satisfaction Gaps allow no room for…
- Confusion… misunderstanding customer needs and their proper priorities
- Bias… altering customer needs to better fit our pre-conceived solutions
- Filtering… cherry-picking customer needs to match those we hoped to hear
If you decide to make Market Satisfaction Gaps a requirement, you certainly won’t be the first company in the world to do so. (See over a dozen case stories.) But there’s still a good chance you’ll be the first in your industry. While competitors are fussing over their quarterly earnings reports, you’ll be building an innovation competency putting you years ahead of them. Now that’s a gap that will bring you satisfaction.