TARGET HIDDEN GROWTH OPPORTUNITIES Deciding which unmet desired outcomes to target for growth is the essence of strategy and the most important decision a
company will make. Everything a company does is tied to this decision.
To make this decision, we again rely on the statistically valid quantitative data we gathered to conduct the Outcome- Based Segmentation analysis. One quantitative study usually provides us with all the data we need to effectively execute the entire ODI process.
Once the outcome-based segments are discovered and segments are targeted for pursuit, we are ready to determine which unmet needs should be targeted in each segment to (i) help the customer get the job done better, and (ii) help the customer get the job done more cheaply.
To prioritize the opportunities, we employ the “opportunity algorithm.” This algorithm enables us to determine which outcomes are (i) important to customers, and (ii) not satisfactorily achieved with the solution(s) they are currently using to get the job done.
THE OPPORTUNITY ALGORITHM
The mathematical formula we use is as follows: Opportunity score = outcome importance + (outcome importance – outcome satisfaction)
This formula calculates the opportunity score for each desired outcome statement, thus revealing those that represent the best opportunities for growth. For example, if 200 out of 270 circular saw users (74% or 7.4 on our scale) rate the outcome “minimize the likelihood that the cut goes
off track” a 4 or a 5 for importance (on a scale of 1–5, with 5 representing highest importance), and only 75 of the 270 users (28% or 2.8 on our scale) rate the satisfaction of the outcome a 4 or a 5 (on a scale of 1–5, with 5 representing greatest satisfaction), then that outcome has an opportunity score of (7.4) + (7.4 – 2.8) = 12.0. In our experience, an opportunity score of 10 or greater indicates that the outcome is underserved.
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