By Marc Benevento
Industrial Market Insight
Are sales of your new industrial products falling short of expectations? A probable cause is a value proposition that has not been well developed and validated with customer input.
Too often, product development for industrials such as chemicals, resins, or adhesives often starts with an idea for a product, with little or no effort being made to understand if the problem that is being solved is significant to customers or if other solutions exist. B2B customers will pay only for the best solutions to significant problems.
To develop products and services that targeted customers need, start by identifying problems that are important to them. Use tools that allow you to quantify and prioritize unmet customer needs, and then focus on the most urgent unmet needs you are able to address.
As you develop your new product or service, be sure to benchmark against direct and indirect competition to be sure you offer real and differentiated value to customers. B2B customers make purchase decisions based on economic value.
Industrial Market Insight can show your teams how to develop strong value propositions leading to products that exceed expectations. We have programs, tools, and resources developed specifically for manufacturers and distributors of industrial products.
Learn more about the common problems B2B companies encounter with value proposition development.