10 questions to ask customers when assessing a market opportunity

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B2BMARKETING & BUSINESSDEVELOPMENT

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The 10 questions guideline is suitable for exploratory survey using face-to-face interview method with customers. The objectives are to understand customers usage and purchase behaviors, jobs they hire your products or solutions to do and other details information that are relevant to your products throughout their work process.

*** IMPORTANT NOTE ***We should focus on exploring and understanding the “OUTCOME” derived from your products/services solution (that you will develop in the future)

BEFORE YOU START

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Get a good understanding of who your customers are ✴ Industry sector✴ Size of company✴ Business operation ✴ Roles and responsibilities of your

targeted respondents

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WHYdo you need to use PRODUCT X?[Elicit for benefits gain, problem solved or a job accomplished by PRODUCT X]

This question aims to understand the reason that customers hire a product / service to do or to solve problem they are concerned

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Let’s start with

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WHOdoes use PRODUCT X? Are users also decision makers?[Ask to gain understanding on customer purchasing process and identifying all relevant stakeholders who would take part into buying products]

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3HOWdo you use PRODUCT X? Are you satisfied with the job done by PRODUCT X? What's else could be improved?[Ask to gain understanding on customer usage behavior and gain their point of view whether they are happy with the current solutions. In addition, ask for suggestion for future improvement]

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HOW MUCH do you pay to get the job done (by using PRODUCT X)?[Ask your customers to describe all relevant costs on hiring PRODUCT X or SERVICE X to get the job done ]

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WHEREdo you purchase PRODUCT X and other relevant solutions? Is it convenient for you? [Also ask customers about related expenses they have to pay to get PRODUCT X deliver to their office?]

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WHENwould you buy / store / use / repair & maintenance / dispose PRODUCT X?[Ask your customers also about purchase and usage frequency as well as how often they have to do the repair and maintenance]

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7TO GET THE JOBs DONEHow important of these following outcome to your business?➡ to get the job done FASTER➡ to get MORE job done➡ to get the job done BETTER➡ to get the job done at LOWER COST➡ to get the job done…..[Focus on the outcome. Ask customers the level of importance on different factors that are relevant to PRODUCT X or the jobs]

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8WHAT IFyou can get the job done______ (FASTER, MORE JOB, BETTER, LOWER COST or …. ) how would it benefit an overall work process?[Ask your customers what would have changed if the outcome change e.g. faster, better, at lower costs, use the factors you define in the previous question]

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WHATare solutions you are using to achieve the better outcome you think it’s important (ref. Question 7)?[Check with customers if there is any process or other products they use together with PRODUCT X in order to gain better performance or better outcome of a work process]

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WHATwould be better off for you…a. to get better outcome at higher costsb. to pay at lower cost with less satisfying outcomec. to use the current solution I am using[Ask customers to choose one of the above choices and explain why the option is the best for them]

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DO NOTrely on a single source of information. Always check if your targeted customer industry is growing. PEST Analysis should always be a fundamental macro analysis for assessing a market opportunity

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THANK YOUWe hope these 10 questions will help you build your own version of customer interview guide and if you need any help, please do not hesitate to contact us

EMAIL: [email protected] WEBSITE: www.canvassco.com

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