2. Market Scouting: Data-mining your CRM

Market Scouting is data-mining your CRM to detect signals of market interest in certain outcomes before competitors.

In a different BlueHelp article, Benefit #2: Data-mine market needs, we looked at a case where phone manufacturers didn't care about glass cracking when their phone displays were tiny. But the outcome, "crack resistance," became more important as phone displays became larger.

Wouldn't it be a strong competitive advantage if a glass producer could detect rising customer needs like this... before its competitors? That's the point of "Market Scouting." It's an early-warning system that allows suppliers to detect weak signals very early.

As we explained in this case, the "sweet spot" to learn about customer needs is when customers are anticipating a need...not too early and not too late. 

Market Scouting is the highest Level of market-facing innovation maturity. Most companies are at Levels 1 and 2 in the illustration below. Companies that have implemented New Product Blueprinting are at Level 3. 

But you can be at Level 4--Market Scouting--when two things happen. First, your sales force and other customer-facing employees are regularly recording their What-Why-Clarify probing notes into your CRM. Second, you periodically data-mine your CRM for keywords to detect rising market interest in them.

Market Scouting is still a new concept for most companies... if they are thinking about it at all. But it's a powerful concept. Combined with New Product Blueprinting it lets you design products and services your customers truly want... when they want them.

Keywords: market scouting, data-mine, CRM, 4 innovation maturity levels, market insight, sweet spot for innovation, customer insight