What are the best ways to identify unmet needs in the market?

Be a Detective in Disguise: Dive into forums, Reddit threads, and those long-forgotten comment sections. People often spill their guts about what they wish they had. It's raw, real, and ripe for inspiration!

Working in the space industry in the downstream services unmeet needs are frequently covered/solved by technological improvements of existing solutions or brand new solutions from scratch. In the Iot sector where we operate new use cases have been developed thanks to proprietary new technologies . Environmental monitoring is a sector that has benefit a lot from new tech solutions such as fire detection in forests, (Co2 levels detection) or glaciers movent monitoring , landslides etc

Using empathy and observation as a strategy to identify unmet market needs is a powerful approach that transcends traditional data-driven methods. This method revolves around understanding customers at a deeper emotional level and observing their behaviors in real-world scenarios to uncover latent needs and desires. This approach also demands time and resources. Immersing oneself in customers' experiences and observing behaviors in various contexts can be resource-intensive compared to data-driven methods that yield quicker insights.

Many times very good observers are employees that are in close contact with Customers. For instance sales people in Retail: they have a clear view of main consumers' pain points, expectations, habits. Stats from Contact Center can be very helpful as well.

To identify unmet needs in the market: Conduct market research: Surveys, interviews, and focus groups can provide direct insights from potential customers. Monitor customer feedback: Reviews, complaints, and suggestions can highlight areas of dissatisfaction. Analyze competitors: Identify gaps in competitors' offerings or areas where they fall short. Attend industry events: Networking and observing discussions can reveal emerging trends or gaps. Use analytics tools: Track online behavior, search trends, and sales data to identify patterns or areas of interest. Stay updated: Regularly read industry reports, news, and publications to spot evolving needs or challenges.

The book "The Mom Test" provides some fantastic insight into how to create interview questions leveraging open ended questions that don't hint at the solution you think is the right one but focuses on understanding the actual pain points of your customer, what they have done in the past to solve them and what they like/don't like about their current solution. This provides some very insightful data that can help you understand your market, or if there even is a market at all.

In my experience, unmet needs are best established by (a) studying the limitations or shortcomings of the existing solutions through market research and (b) interviewing the target customers. While other contributors have made useful suggestions on how to prepare the interview questions, in my opinion, it is an iterative process. One must conduct a number of interviews to fine tune the questions before reaching out to a larger group of end users.

Frontline staff- sales people, customer service people, your retailers, distributors- all are very good sources of insight. But only if you have a system and a culture of listening to their feedback and insights. They are the ones who hear it raw and unfiltered from the customers - the good, the bad, the frustrating, the delighting, the irritating..everything. Have a system and a culture in place where this feedback gets heard, gets captured, and then analysed.

Researchers acknowledge the importance of interviews and surveys, but challenges lie in how to do both. Merely having a set of questions for interviews is insufficient; interviewers must dig deeper answers by connecting with interviewees, listening actively, asking insightful follow-up questions, and enhancing overall proficiency as interviewer. For survey, the success factor revolve around formulating questions that are both unbiased and clear, selecting an appropriate sample, and determining the optimal number of questions.

interviews and surveys serve as validation mechanisms. They provide a reality check for businesses, allowing them to cross-reference their assumptions with actual customer experiences. By seeking feedback directly from the target audience, companies can verify whether their proposed solutions align with customer expectations or if there are unaddressed pain points yet to be discovered. However, it's crucial to recognize the limitations. While these methods offer qualitative insights, they might not capture the entire market landscape. Not every customer's opinion will represent the majority, and outliers can skew interpretations.

El enfoque de utilizar datos y tendencias para identificar necesidades insatisfechas en el mercado es, sin duda, una estrategia eficaz y probada, como bien ejemplifica el caso de Netflix. Analizar patrones y brechas a través de distintas fuentes de datos permite no solo detectar oportunidades, sino también anticiparse a las amenazas del mercado. Sin embargo, es fundamental recordar que los datos, por sí solos, no cuentan toda la historia. El contexto es muy importante Se podría complementar este enfoque con 'entrevistas en profundidad' a un grupo selecto de clientes actuales y potenciales. A diferencia de las encuestas estándar, éstas se centrarían en explorar detalladamente las experiencias, deseos y frustraciones de los clientes.

Très intéressant cet article sur l'analyse des données et des tendances pour cerner les besoins de marché. L'exemple de Netflix illustre parfaitement l'utilité de cette démarche. - Points forts : la mise en lumière des histoires derrière les données et la reconnaissance de tendances cachées. - Point faible : le risque de dépendance excessive aux données, occultant le contexte culturel et humain. Il me semble essentiel d'équilibrer analyses quantitatives et compréhension qualitative du marché pour une innovation réellement adaptée aux consommateurs.

few key points: 1. Look Beyond Numbers: Data is important, but it's not everything. Understand the story behind the data—what it means and why it matters. 2. Use Different Sources: Combine info from different places like customer feedback, social media, and industry reports. It gives a fuller picture. 3. Keep Up with Change: Markets shift fast. Stay adaptable to catch new opportunities and changing needs. 4.Put Customers First: Understand what people want. Netflix did this by personalizing entertainment, showing the power of meeting customer needs. In short, it's not just about numbers. It's about seeing the bigger picture, staying flexible, listening to customers, and using data to drive innovation.

Uma base de dados bem construída pode contribuir com insights valiosos. A dificuldade, muitas vezes está em coletar os dados corretamente. Dados enviesados podem passar uma vis?o de um cenário distorcido e comprometer a tomada de decis?es.

O setor de inova??o está ligado ao setor de iniciativa, aonde as idéias foram geradas e implementadas e quais delas obtiveram algum sucesso, quantos colaboradores est?o sugerindo propostas, quantas pesquisas foram realizadas e assim por diante. Os indicadores de produtividade, que medem os resultados concretos trazidos pelas iniciativas: tempo de fabrica??o, redu??o de custos, aumento nas vendas, produtos lan?ados, men??es nas redes sociais,etc. Com adi??o gradual dos indicadores de produtividade, visibilizando o setor P&D, temos a oportunidade de capta??o de novos clientes.

MVP is a very interesting approach. But it is quite a challenge for hardware products. It is a difficult task to develop not too long but ensure a basic function or develop too short for first interaction with customers but questionable functions or unclear roadmap in case of serious customer interest.

Testing is very important. It can be done on a specific market, or on a specific segment of Clients. Crucial to setgoals and expectations in advance +carefully measuring results.

Probar e iterar ideas de productos es crucial para descubrir necesidades del mercado. Crear prototipos o MVPs y obtener retroalimentación permite aprender de errores y ajustar la oferta. Es importante el equilibrio en el timing de pruebas para evitar sesgos. Como Slack, usar feedback de usuarios iniciales e influencers es efectivo. Además, incorporar análisis predictivo para anticipar la respuesta del mercado antes de lanzar cada iteración podría optimizar este proceso, permitiendo ajustes más precisos y una comprensión más profunda de las necesidades del cliente antes de la implementación total.

In my experience starting from Customers is always very insightful. What is important is having a structured and well conducted co-creation /Design thinking approach. The different phases must be secured: - INTRO: Ice breaking, clear objectives and shared rules are important at the beginning so that everybody can feel "in charge" and listened to - CREATIVE PHASE: while brainstorming any kind of idea and suggestions must be accepted. Lateral thinking must be fostered! Suggestions, images, insights from other customers or industries can be used. - CONVERGENT PHASE: a progressive evaluation and selection of all ideas must be done together with a transparent approach. - QUICK & ROUGH TESTING of key product ideas is very important

Research, research and constant research on customers and "consumers". Because ultimately they are the ones that are buying and using the products and they can only tell what are the pitfalls of the products. The manufacturers are always under the impression that they have produced a unique product without any faults, but this is not always the case. Even the best product can be made "Better".

Co-creating with customers, like Lego did with their fan community, is a powerful way to uncover unmet needs in the market. Here's why it's significant: 1. Customer Engagement: Involving customers in product development fosters a deeper connection. It shows you value their input and builds a sense of ownership, leading to stronger loyalty. 2.Unleashing Creativity: Customers often have unique perspectives and ideas. Co-creating taps into this diverse pool of creativity, helping identify novel product concepts that might not have emerged otherwise. 3. Unique Offerings: Co-creation can lead to products or features that stand out in the market because they are directly inspired by the desires and preferences of the customers.

While many likely remember what Homer Simpson hilariously designed when he was asked to create the perfect car, there is no one better tuned to the needs of a products customer than, well, the customer. Even just the act of adding a new feature the user requests could be implemented in a way to make it useless, or at least very imperfect, if deep user input isn’t solicited and applied. Co creation. In a perfect world, R&D and design teams have maximal, fluid, realtime access to representative end users in an agile design and development environment. Perhaps through a forum, perhaps through regular prototype tests - or even just open casual conversation. The same is true as product design as advertising. Active listening, applied.

Je vais prendre l’exemple de la grande marque de basket Nike qui a organisé un concours où 20 clients ont eu la chance de concevoir des sneakers. Le consommateur ayant recueilli le plus de votes par ses pairs était récompensé chaque mois.

Also....Focus on future needs- Analyze emerging technologies: Consider how advancements like VR, AR, or robotics might create new challenges and opportunities. For instance, the rise of VR gaming could demand ergonomic furniture or specialized cooling systems. Study social and environmental shifts: Consider the impact of climate change, demographic changes, or urbanization on future needs. Sustainable housing solutions or accessible transportation for aging populations could become crucial.

Here's what else I did in my career.. - Use your emotional quotient to read between the lines from user journey - Don't depend only on facts/data, we aren't mechanical robots, work with a good amalgamation of human instinct and data, well illustrated in Kim Scott's book Radical Candor - Observation is the key & to get there with observation, ensure to bring your whole self to work & be attentive at work

O processo de pesquisa e desenvolvimento, realizado com maestria, com uma metodologia bem definida e pessoal qualificado, podem garantir o sucesso do seu produto. Utilizando também uma ferramenta competitiva, permite analisar seu projeto e identificar possíveis falhas antes da produ??o, economizando tempo e recursos.