Exponential Growth: Customer Utility Matrix

Exponential Growth In Practice: Customer Utility Matrix

How do you find challenges/pain points of customers to unblock and create opportunities for growth?

Utility is the state of being useful. To ask the right questions, we need to define suitable utility attributes that help to unlock blocks/pain points and create new opportunities to innovate and expand the market size. The most common utility attributes used in many similar concepts are:
• Productivity
• Design
• Simplicity/Convenience
• Risk
• Society/Environmental Impact
• 1 industry-specific attribute

5 of these 6 are common utility attributes that apply for almost all experience cycle stages and the 6th one we leave open to be specific for the industry.
The definition of the 5 attributes are:
• Efficiency or Productivity: Anything to do with use of less or the same resources (time, money, effort) to deliver the same or more value to the customer
• Design: Anything about style, looks, image, feel
• Simplicity or Convenience: Anything that simplifies things or gets things done faster and easier
• Risk: Anything related to risk reduction
• Societal/Environmental Impact: Everything about contribution or impact to society and/or environment

In order to discover pain points for each attribute and stage of the customer experience cycle, you need to ask questions like: What is the major block to the customer, or eventually, the opportunity for attribute X and Why?
Finally, we create a matrix with all the pain points/blocks and the relevant industry focus mentioned. This is called a customer utility matrix, with the horizontal axis showing the customer experience cycle stages and the vertical indicating the utility attributes.

To understand the concept and help your business grow faster please watch the Video below

https://lnkd.in/gc3cwwV5

If you want to find more including use cases please check

www.TenX2.com/book