This professional summary of a Blueprinting Market Case can be used to: inspire confidence when recruiting customers, build engagement with previous respondents, and boost internal enthusiasm for “voice of the customer” initiatives.
What is a Market Insights Report?
It's a summary of a Blueprinting Market Case. Complete with selected data analysis, depending upon the audience
What is the Market Insights Report useful for?
To obtain interviews for Discovery Interviews more easily, to build engagement with customers, and to communicate Blueprinting insights internally.
1. Obtain Discovery Interviews more easily
It can be a challenge to convince your customer or your competitor’s customer to participate in Discovery interviews. The Market Insight Report can help. Offer target interviewees an additional point of value in exchange for their input. An interview set-up script might sound something like this…
"This is Meg Wheaton from Acme. We plan to develop a new offering to benefit the industry. We’re including expert opinions from around the world and would greatly appreciate your input. Your participation is kept anonymous and the information you share is kept confidential. We’ll bring our top technical experts to this discussion providing you with an opportunity to prioritize our R&D efforts. As a thank you for your participation, we will share a summary of our learnings at the conclusion of our research. This Market Insights Report will only be available to interview participants. Will you help us?"
You sometimes will hear, "I did voice of customer with another company and they never followed-up."
With the Market Insights Report, you can respond with:
"Let me share an example of how our team will follow-up. I’ll send you a pdf copy of a sample Market Insights Report. Our team will put a similar professional summary together once we’ve wrapped up interviews and secondary market research. It will not contain any of your confidential or specific information and your participation will remain anonymous. Many customers use these with their management teams to further validate their own research."
2. Build Engagement with Customers
Schedule a meeting to review the Market Insights Report with interviewees. This can be done in person or virtually. This is an opportunity for your sales team to engage with the customer and provides credibility-enhancing follow-up. It is also an opportunity to have a more detailed discussion about the Outcomes you discovered and your next steps. Many teams have insights they want to discuss but consider too sensitive to share in a written format that could be shared with competitors. The meeting creates an opportunity to discuss more sensitive information while providing a pdf or printed copy of the less sensitive Market Insights Report as a leave behind.
Be sure to remind recipients that the Market Insight Report is exclusive to participants in your research. This is a benefit to them and also a low-risk test of their compliance with confidentiality and commitment to your partnership.
What about a product launch? How could this be used to continue with better engagement?
Remember, we promised interviewees that the Market Insights Report would be exclusive to them. But, we still want to demonstrate market understanding to potential customers for our solution and explain why we developed it. In this scenario, it is appropriate to modify our Market Insights Report. This version should be updated to reflect current market dynamics and highlight the problems where you offer solutions. It does not contain the same depth of detail shared with Discovery and Preference Interview participants.
3. Communicate Blueprinting Insights Internally
Our internal stakeholders – R&D, sales, and management sponsors – often need more detail than our customers. These are the people we need to convince to invest in our project. This version explains the industry dynamics and what’s in it for our organization to solve these problems. This serves as the basis of a business case and is a key tool for gaining internal influence and buy-in for new product development. By demonstrating our progress to management and our approach to results delivery, we build confidence and internal credibility needed for success. Teams that share their Market Insights Report with management teams prior to presenting their business case frequently report securing investment to move forward with less scrutiny.