AIM Archives - Tag: new product

As in the country song, many firms look for new product ideas “in all the wrong places.”

99 Where to Look 1

Those wrong places are usually inside your company. In a study examining best idea sources, 8 voice-of-customer methods and 10 other methods were examined. In terms of effectiveness, the VOC methods took 8 of the 9 top spots. At the very top? Customer visit teams and customer observation. Most companies need to “get out” more.

More in article, Where New Product Ideas Begin (Originally published in B2B Organic Growth).

The more uncertain a new-product project, the better.

98 Uncertainty

With a high-certainty product project, you can accurately predict your financial profits. With an uncertain project, you face significant potential downside and upside profits. In B2B markets, you can understand the downside very early. You’ll kill the project cheaply if the downside cannot be eliminated. And reap big upside profits if it can.

You can methodically strip away uncertainty and de-risk your projects. This is done through a four-step process that combines Discovery-Driven Planning with New Product Blueprinting. Learn more in this white paper, Innovating in Unfamiliar Markets (page 5).

Once your new product is launched, the pricing insight window slams shut.

Pricing B2B Products - Pricing New vs. Existing Products2

Customers will help you set prices before—but not after—you launch your new product. They want you to develop innovative new products and services that deliver value to them… so they’ll give you insights to make this happen. These same insights allow you to establish optimal pricing. Do you know how to do this? It will be too late after you launch your product.

More in article, Pricing New vs. Existing Products (Originally published in B2B Organic Growth Newsletter)