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Silence the Voice of the Customer (VOC)

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Recorded webinar given by Tony Ulwick, CEO of Strategyn. "Silence the Voice of the Customer" reveals why it's time to breakaway from VOC methodology and try a new approach. Original airdate: 4/20/11

Recorded webinar given by Tony Ulwick, CEO of Strategyn. "Silence the Voice of the Customer" reveals why it's time to breakaway from VOC methodology and try a new approach. Original airdate: 4/20/11

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  • 1. Silence the Voice of the Customer And Create Growth Plans that Work 4/20/11 © Strategyn Inc. 2011
  • 2. Create growth plans that work Accelerate growth – lower risk.
  • 3. The Goal is to Succeed Nearly All the Time
  • 4. Think from a Different Perspective 2 E= MC
  • 5. We Think Differently About … Markets Strategy Innovation
  • 6. What is a Market?
  • 7. Traditional Definition “A market is the set of actual and potentialbuyers of a product.” Philip Kotler Kellogg, Marketing Management
  • 8. 0% Growth 150 BC 1670 1940 1985 1999
  • 9. We Define “Market” Differently “A market is a group of job executors and the job they are trying to get done.”
  • 10. The job of … “communicating with a select group of people”
  • 11. Breakthrough Job map and 50 to 150 metrics per job
  • 12. Mapping the Job-to-be-Done Core Functional Job Job Map •  Outcome 41 •  Outcome 1 •  Outcome 42 •  Outcome 2 •  Outcome 43 Plan Locate Prepare Confirm •  Outcome 44 •  Outcome 3 •  Outcome 4 •  Outcome 45 •  Outcome 5 Conclude Modify Monitor Execute 50 – 150 metrics (needs) per job The Customer-Centered Innovation Map, HBR, May 2008 Giving Customers a Fair Hearing, MIT Sloan, May 2008
  • 13. Desired Outcome = Customer Need Unit of Object of Direction Measure Control Minimize the time it takes to confirm receipt of a communication
  • 14. Silence the Voice of the Customer VOC practices fail to uncover all the customer’s needs: •  Focused on the product, not the job the customer is trying to get done •  Assume customers have latent needs and needs they can’t articulate •  Assume customer needs change quickly over time
  • 15. Possible Growth Opportunities 12 steps and over 100 outcomes … 1. Minimize the time it takes to confirm receipt of a communication 2. Minimize the likelihood that the communication is interrupted 3. Minimize the likelihood of interference when communicating 4. Increase the likelihood that the communication is discreet 5. Minimize the likelihood that a message is misunderstood 6. Minimize the time it takes to establish a record of the communication 7. Minimize the likelihood that a communication is intercepted Complete set of well articulated needs that are stable over time
  • 16. Opportunity Is … An important but poorly satisfied outcome
  • 17. Market Opportunity Landscape Opportunity = Importance + max (Importance – Satisfaction, 0) High Satisfaction Over served Under served Low Low Importance High
  • 18. 0% to 18% Growth “Strategyn helped us create two of our bestselling radios to date.” Dr. Robert Pennisi Director, Advanced Technology Dr. Pennisi is currently an innovation professional with Strategyn
  • 19. Create growth plans that work Accelerate growth – lower risk.
  • 20. We Think Differently About … Markets Strategy Innovation
  • 21. What is Strategy?
  • 22. Traditional Definition “Strategy is choosing “Activities, then, to perform are the basic unit ofactivities differently competitive than rivals do.” advantage.” Michael Porter Harvard Business School
  • 23. Doctors who open a clogged artery
  • 24. We Define “Strategy” Differently “Strategy is choosing “Customer needs which unmet are the basic unit ofcustomer needs to competitive target and how to advantage.” satisfy them.”
  • 25. Breakthrough Outcome-based market segmentation
  • 26. Segments of Opportunity Segment 1 Segment 2 Segment 3 65% 25% 10%
  • 27. 1. Which Needs Should We Target? Opportunity = Importance + max (Importance – Satisfaction, 0) High Segment •  Minimize the time it takes to move 1 through the vessel Satisfaction •  Minimize the amount of damage inadvertently caused to a vessel •  Minimize the amount of force required to cross the lesion •  Minimize the likelihood of restenosis Low Under served (recurrence of the blockage) Low Importance High
  • 28. 2. Which Job Executor? Cardiac Interventional Patient Surgeon Cardiologist
  • 29. 3. Which Platform(s)? Angioplasty 40 Projects Stent Balloon in R&D
  • 30. This is a Growth Strategy Needs Executor Platform(s) Segment 1
  • 31. 10x Increase in Market Share “In 12 months, Cordis saw it market share grow from just 1% to 10% in the US, 20% in Europe, 30% in Canada and 18% in In Vivo Japan.”
  • 32. HBR Best Business Idea The stent went on to become a $1 billion business in less than 2 years – the fastest growth in medical device history. Cordis stock increased 5.5x as they were acquired by J&J.
  • 33. Create growth plans that work Accelerate growth – lower risk.
  • 34. We Think Differently About … Markets Strategy Innovation
  • 35. What is Innovation?
  • 36. Traditional Definition “Innovation is the “Orderly innovation is creation of new an oxymoronic phraseproducts and services.” believed by morons with ox-like brains.” Tom Peters HSM 2007 Author of In Search of Excellence
  • 37. IT managers whomanage enterprisesoftware licenses
  • 38. We Define “Innovation” Differently “Innovation is the creation of products that help customers get a job done better and contribute to growth.”
  • 39. Innovation = Get a Job Done Better Step Step Step Step 1 2 3 4
  • 40. Innovation = Get a Job Done Better Step Step Step Step 1 2 3 4 Over 150 outcomes… 1.  Minimize the time it takes to determine if users have unlicensed copies of software 2.  Minimize the likelihood that backward compatibility affects other users 3.  Minimize the likelihood that an upgrade will impact previously written code 4.  Minimize the time it takes to troubleshoot problems during deployment 5.  Minimize the likelihood that an upgrade causes problems with existing files 6.  Minimize the overall time it takes to conduct an upgrade 7.  Minimize the time it takes to determine which applications will be impacted by an upgrade 8.  Minimize the time it takes the vendor to fix deployment problems 9.  Minimize the time it get all users on the same version of the software 10.  Minimize the likelihood that a deployment requires a physical visit to the PC
  • 41. Innovation = Get a Job Done Better Step Step Step NEW Step NEEDS (3 of 150) 1 IMP SAT OPP 2 IDEA 3 4 SAT Minimize the likelihood that backward Application 9.1 3.2 15.0 5.6 compatibility causes problems virtualization Minimize the likelihood that power Centralized 9.1 5.1 13.1 7.1 users can create security violations permissions Minimize the time it takes to Real-time 9.1 3.4 14.8 6.3 troubleshoot deployment problems metering Value Add = %∆ in Satisfaction 60% 75%
  • 42. How much will you grow?
  • 43. Breakthrough The securable market
  • 44. The Securable Market High Increased Satisfaction Willingness to Pay Need Curve™ Premium market Dollar volume of the Securable Low cost market Low Low Underserved Executors High What gain in revenue is expected if we succeed?
  • 45. 35% Renewals 80% $1 Billion Projected Revenue
  • 46. Create growth plans that work Accelerate growth – lower risk.
  • 47. ® This is Outcome-Driven Innovation (ODI) Markets Strategy Innovation
  • 48. ® The Outcome-Driven Innovation Process Idea Create Testing and Screen Scoping Business Case Development Validation Launch GATE 1 STAGE 1 GATE 2 STAGE 2 GATE 3 STAGE 3 GATE 4 STAGE 4 GATE 5 STAGE 5 = 17% Success Traditional Innovation Process Rate Market Market Concept Testing and Selection Strategy Innovation Development Validation Launch STAGE 1 GATE 1 STAGE 1 GATE 2 STAGE 2 GATE 3 STAGE 3 GATE 4 STAGE 4 GATE 5 STAGE 5 = 86% Success The Outcome-Driven Innovation® (ODI) Process Rate
  • 49. ODI can help you accelerate growth… … throughout the product life cycle. •  Discover attractive markets and market segments •  Discover “blue oceans” Market Selection •  Validate a big idea •  Define next-gen products •  Define next-gen platforms •  Disrupt a market Market Strategy •  Ideate breakthrough solutions •  Optimize the customer experience •  Adjust the strategy in Development response to a sudden market change •  Position or reposition a product to succeed •  Resolve lingering product and Launch service quality issues
  • 50. Learn More … We’ve authored … We’ve published our ideas in … Our ideas are cited in … … and over 200 other books and publications
  • 51. Contact us: info@strategyn.com Toll Free: (866) 729-8400 Tony Ulwick ulwick@strategyn.com