Egress Solutions Product & Innovation Management Blog

Buyers' Insight: A Primer

By Jesse Lujan
Jesse Lujan
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Would it be easier to sell your software product if you could read your buyer's mind and know the most important factors they care about? Would it be easier to position your product against a competitor if you knew what drives customers to buy their product over yours?

The ability to understand how a person or organization prioritizes and measures the different factors before buying something is what we call INSIGHT.

At Egress, we strive to provide a comprehensive Buyers' Insight Analysis and actionable recommendations platform. We love to offer this service because it provides a drove of specific and valuable information to share with our customers about the very essence of their buyer. This analysis breaks down a buyer's justifications, their top needs, the deal-breaker requirements, and their constraints when evaluating a product.

BI-Process-3

 

So what? All this data is only as good as the query. And since we are not philosophers, a query is only as good as the actions taken afterwards to drive the outcome you want. So, we couple this data with in depth interviews that hone the rough insights we captured in our survey responses to build a specific hypothesis of the market.

It's one thing to say, “35% of respondents believe price is a top factor”. It's another to say, based on survey responses and our conversations with respondents like Sarah, a VP at Zzyzx Corporation, price is a factor but what that really means is that your customers are unhappy with your pricing model. The price is reflecting collaborators instead of users and it feels unfair to the market.

Buyers' Insight process

Lastly, we take our 70+ years of collective product management expertise to navigate through the data. We deliver recommendations regarding which change factors can potentially deliver the biggest impact. Our blend of quantitative and qualitative methods is what really sets us apart and what ultimately brings true value to our customers.


 

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