Maine Start up and Create Week has got me thinking about innovation and connection – both vital keys to start up success. Another key to success is value – to the customer – beyond what they can get from your competitors.
How do you know your new idea for a product or service has value? How do you know customers will want it? Will buy it?
It seems simple. Know what customers want. What competitors offer. How customers buy. Understand the value your new idea brings to your potential customers, beyond what competitors offer – – – and figure this out in dollars. Not just in generalities and platitudes. It is the value that will generate traction for growth.
How do I find out if my innovation is valuable to customers? One important facet of knowledge is gained through being in the market. Visit and talk to prospects and customers. Attend shows.
A second important source of knowledge is the often more objective market research. It balances and deepens the subjective knowledge you gain in the market. There are many market research techniques that can be used to gain key insight into customer needs. PCW is an expert in this area, and is happy to help.
Partners Creating Growth are market research experts with national and international capabilities. We offer business expertise worldwide to help organizations grow, and disadvantaged regions thrive. E-mail: Tove@PartnersCreatingGrowth.com