Pipeline Accelerator Insight #44: Know Your Customer’s Payback Before Development
B2B/Industrial customers buy a new product because it saves them money or helps them make more money.
Either by removing a limitation in the way of sales, eliminating a problem, or freeing up cash.
Way too many new product ideas move to engineering without having a clear understanding of how the product helps customers make more money.
That’s important because without knowing the impact on their economics (what we call the customer value lens) , you can’t know what price they should be willing to pay.
Make one of your first steps the identification of the payback on your customers’ investment or switching costs before funding development.
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