Our marketing technology requires unique growth tools and approaches to uncover differentiated, actionable customer and market insights. Read our Case Studies to learn more about how we have used these growth tools to help our clients grow their businesses and increase revenue.
Get the most out of the precious time you have to interact with potential customers in a new business development mode.
Hybrid Voice of the Customer, or Hybrid VOC, is a methodology that combines the best of the qualitative interview and the core of a pricing and positioning quantitative assessment. In a face-to-face interaction, key decision makers and influencers are asked to complete a set of exercises. Their responses trigger a focused discussion about their answers, as well as additional need areas. Responses from several sets of participants are captured and analyzed along with key statements as notes to generate a basis for progressing with new product development and commercialization. The analysis generates
- How the concept or new product should be formulated to deliver customer value
- The price customers would be willing to pay for the concept product
- The share you could expect to receive once in a competitive environment
- Who among the potential customers would be most ready to test and purchase
A Hybrid VOC Interaction
There are a few keys to designing a Hybrid VOC interaction:
- Establish a clear objective: What you need to know for what purpose
- Set a well-defined scope to include addressable market and competitive environment
- Describe the concept product: What it is and why it can do what it can do
- Identify possible customer outcomes: What they want to happen in their businesses
- Generate potential product features: What any product must do to address those outcomes
- Define the competitive environment: The performance options customers have
- Formulate a considered pricing range: Enable the customers to select their value level
Benefits of a Hybrid VOC
- Speed:A project can be completed within 30 days of initiation
- Thoroughness: The combination brings out more issues and interests than the sum of individual qualitative and quantitative studies
- Positive engagement: Common customer feedback is “The best interaction we have ever had with your firm”
- Alignment: Because both marketing and technical are involved in the interactions and learning the same things
- Cost effectiveness: Generally about half the cost of traditional investigations
The Breakthrough Toolkit™
Value Proposition in a Box℠
The Breakthrough Toolkit describes the products and services that deliver the experience your most attractive customers/prospects value. A small sample of customer/prospect perceptions are collected and analyzed in this Excel-based, integrated data tool. Multiple methodologies are blended into one, delivering the interrelated marketing 4 Ps for the best value in statistical research today.
The Breakthrough Toolkit delivers robust marketplace analysis for fact-based business decisions. We perform a set of causal exercises based on behaviors. We require respondents to make choices of one answer over another to generate realistic and actionable results.
How Does It Work?
The Breakthrough Toolkit addresses market conditions that challenge customer lifetime value:
- Lack of differentiation
- Price erosion
- New competitive threats
- Eroded value propositions
The Breakthrough Toolkit is based on surveys of about 100 respondents per segment. It should be undertaken only after sufficient preliminary inquiries, usually in the form of interviews, have determined
- Customers/prospects to be investigated
- Key performance attributes and product features to assess
- Outcomes customers/prospects want to achieve in order to quantify the characteristics of their desired experience
A Tool That Delivers Quickly
The Breakthrough Toolkit delivers results quickly. Once the target respondents are identified and the survey is designed, we deliver results within four weeks from start to finish. The Toolkit is cost effective; you, the client, own the workbook for ongoing scenario planning and to build internal capability. And the Toolkit is fact-based, with quantitative results generated from the voice of the customer.
- Go-to-market approach for existing offerings linked to the experience customers/prospects want
- Early assessment of the market value for a new concept vs. current products
- Pricing, positioning, behavioral segmentation and channels generated from the VOC
- Opportunities for differentiation to increase market share and optimize price
- Competitive pricing—share vs. demand, including what if pricing simulation
Highly automated, the Breakthrough Toolkit makes statistical analysis easily accessible to the non-statistics marketer. The Breakthrough Toolkit is a consistent means to explore What if scenarios so you can examine whether and how you want to enhance the customer experience. For existing or new markets, it provides numerous interactive screens that allow analysis to be viewed from multiple perspectives:
- The value of features and benefits, individually and in combination – providing prioritization guidance to technical/development
- Needs-based segmentation
- Competitors’ performance values
- Computation of derived importance (based on correlation to the Net Promoter Score)
- Quadrant maps indicating performance, importance and competitive advantage required to build differentiation
- Demand and earnings curves with optimum price ranges and associated earnings for
- New offerings compared to the competition
- Multiple offerings in the same marketplace to explore possible cannibalization
- Comparative value of brand vs. product feature value
A Broad-Based Market Assessment
Which markets make sense for your concept?
Market Space Investigation™ is a high-level assessment of multiple markets that provides a process and factual basis for developing and evaluating new concepts. It satisfies the need to understand the current market landscape and whether customers find your concept for a new product or new service attractive. Market Space Investigation enables your business team to
- Uncover the factors that would cause a market to have interest in your concept
- Identify information you would want to include in a quantitative concept test, using analytics to determine pricing and positioning
Market Space Investigation ensures that you don’t overlook potentially valuable market-specific opportunities for your innovation idea, and helps you select your most promising market-specific opportunity or opportunities for market validation. Market Space Investigation is done prior to chartering an innovation project.
What Does It Deliver?
Market Space Investigation delivers
- An opportunity matrix to prioritize markets based on demand for your new business development concept
- Insights into the markets under consideration, including in-kind and not-in-kind competition
- Marketplace vernacular to improve communication of your concept’s benefits
- A qualitative assessment ready for quantitative validation
Market Space Investigation can lead to a market-driven innovation project or projects, which will proceed through the deep, single market assessment in the Market Validation step.
Understand New Markets with Rapid Market Assessment™
The point of the Rapid Market Assessment is to understand new markets aimed at defining a new value proposition that best fits the new market. It’s a disciplined approach for validating a market opportunity. The purpose of the assessment is to
- Evaluate the potential to renew growth in an existing or adjacent market for a
- Product enhancement
- New value proposition
- Revised business model
- Determine if a new concept has enough potential value in an existing or new market to commit resources for further development and business case evaluation
By accelerating the opportunity analyses before you invest in building your offering your business can make better decision. How you deploy resources for growth, as well as internalize a more complete knowledge of your markets, can be determined with market-based evidence. So, you can evolve your go-to-market strategy to increase market share and revenue with confidence.
What Does It Deliver?
The Rapid Market Assessment delivers
- An understanding of how the value-adding process (value chain) operates
- The drivers impacting change in the market
- Compelling value propositions
- An estimate of potential new revenue opportunities
- Resources required to develop opportunities for new sales growth faster
The Rapid Market Assessment provides a provides a recommendation to move forward with or drop the growth opportunity. It’s an initial business hypothesis and value proposition, as well as a summary of other opportunities that may have emerged from the work.
SMValue Proposition in a Box is a service mark of Breakthrough Marketing Technology, LLC
TMRapid Market Assessment is a trademark of Breakthrough Marketing Technology, LLC