The key to creating clearly differentiated products is to develop deep
insights into the problems your customers are striving to solve. Your duty
is to understand your customers better and faster than your competitors
(this is particularly true if you’re facing fierce global competition).
Value is in the Mind of Your Customer
“Your product has no value — all value is in the mind of your customer.”
— Jean-Claude Balland, Ph.D., founder of Rapidinnovation
Your product is only valuable if your customers say it is! In a B2B
environment your customers are facing a set of problems they are striving
to solve; consequently, it is imperative that your development team has a
crystal-clear understanding of these problems and the importance your
customers place on a solution. You can then define value from the
perspective of your customers rather than internal factions within your
company. The better your product solves your customers’ most pressing
problems — the more valuable your product becomes.
Value is based on your customers’ perceptions, not just cold, hard facts.
Furthermore, value is the only dimension your customers use to make
buying decisions. In a technology environment, this is very difficult to
accept, given that banner specs and other technical dimensions seem to
be the value drivers. But again, your product is only valuable if your
customers say it is.
Deep Customer Insights and Deeper Profit Margins
Given the importance of perceived value, does it not make sense then to
develop deep insights into your customers? Your ability to better
determine what your customers value will result in greater profits and
more competitive advantages. Your people must become proficient in
identifying the problems and challenges your customers face and then
translate their findings into product requirements that your R&D team can
use to develop innovative solutions your customers will love.
Our Team of Seasoned Consultants Will Help You
Let us help you answer these critical questions:
• How does my team identify the right customers to interview so we can
obtain the right input for our new product platform?
• How do I translate abstract ideas from my customers into actionable
and prioritized customer requirements?
• What is the role of Voice of the Customer (VOC) when pricing for value?
• How do I get my R&D and marketing teams to collaborate on developing
clearly differentiated products?
• How do I direct the type of innovation that will give us a competitive
• What are the advanced communication skills that will help my team
discover unmet needs?