Do you want to think only about your next move, or think five moves ahead? Here’s a 5th order plan to maximize shareholder wealth: 1st Order: Develop superior customer insight capabilities. 2nd Order: Understand market needs better than competitors. 3rd Order: Develop high-value products focused only on these needs. 4th Order: Sustain superior growth from these products. 5th Order: Impress shareholders with your proven growth track.
More in article, Stop Stifling B2B Organic Growth with 2nd Order Effects
Imagine you just launched your new product and the market responded with… one big collective yawn. Was it a poorly orchestrated launch? Perhaps, but it’s more likely your launch was doomed a couple of years earlier by poor front-end work. Our research shows five of six B2B product development teams lack a clear understanding of market needs before conducting B2B-optimized VOC. Without this insight, your launch might be putting lipstick on a pig.
More in article, B2B Product Launch: How to get it right
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, Timing is Everything (page 15).
Problem 1—What’s the right question?—focuses on market needs. Problem 2—What’s the right answer?—is all about your solutions. Most companies put 90+% of project spending into Problem2, yet Problem 1 causes most new product failures. Hmmm… are you sensing a possible competitive advantage here? Will you explore it further? Will you seize it?
More in white paper, Catch the Innovation Wave (page 4).