I speak with ambitious startup founders and tech executives in mid-market and enterprises every day.
During my conversation with one business owner yesterday, he articulated the software solution he wished to get help from us to build.
After listening to him for 20 mins I was clear with the vision of the software product.
But there was one problem.
When I asked him a few questions to gain some critical insights about the customer’s problem and pain, it became apparent that not enough time was spent truly validating the customer’s pain points and the solution.
Is this you?
In the journey of bringing any great software solution to market, understanding your customer’s pain is fundamental.
Customer needs, when translated well, help us gain clarity into the problem and also confirm whether this is really a viable business opportunity to address and whether the customer is willing to pay for it.
But how does one validate the customer’s problem?
The solution is the Innovation Accelerator.
After developing over 1,000 software solutions in 25 years, we have a proprietary Innovation process that helps us gain confidence before investing time, effort, and money into developing a software product.
Here is how you can validate the customer problem:
1. Identify the Problem: Engage with potential customers through interviews, surveys, or observation to uncover their real problems. Remember, the problem you’re solving should be specific and acute.
2. Propose a Solution: Briefly outline how your software intends to solve this problem. This doesn’t have to be a fully developed product yet; a concept or prototype can work for this phase.
3. Validate Willingness to Pay: This is crucial. Use methods like value proposition testing, where you present your solution’s value proposition to potential customers to see if they perceive it as worth paying for. Offering early access as a beta user, discounts for feedback, or even using crowdfunding platforms can also help gauge willingness to pay.
4. Iterate Based on Feedback: Be prepared to pivot or iterate on your solution based on the feedback you receive. The goal is to refine your offering until it closely aligns with what customers are willing to pay for. Remember, we haven’t started to build the software yet.
5. Build a Minimum Lovable Product (MLP): Develop an MLP (not an MVP) that addresses the core problem and starts testing with real users. This will provide invaluable insights and validation for further software development.
Benefit Benefit Benefit:
- Validating a customer problem early saves time and resources and sets a strong foundation for a digital product that truly resonates with your target market.
- Engaging with your potential customers early and often is key to uncovering and addressing their pain points with your solution.
- Also helps you identify the ideal customer persona and buyer early in the process.
We would love to hear your thoughts and experiences validating customer problems for customer-led software solutions.
Using our proprietary Innovation Accelerator, we can help you with product-market fit (PMF) early.
Wanna learn more about the Innovation Accelerator process? Book a Complimentary Call.
P.S. – If you are ready to take action, book a complimentary call to “Gain Product Clarity Early,” and we will get crystal clear on how to get your digital product launch on the path to success.
By: Rishi Khanna