Bringing in the Human: Customer Benefit Analysis
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Recorded Live: March 15, 2023 @ 12pm ET | View the Recording
In the second episode of the Agile Experts webinar series, learn about a fundamental approach to sustainable profitability: Customer Benefit Analysis (CBA), a key component of the Profit Stream Canvas.
Miro and Applied Frameworks hosts, joined by Tyler Simons, Head of Customer Success from Fullcast, explored Customer Benefit Analysis using Fullcast as a case study. Over the course of the session Tyler and Jason discussed how conducting a Customer Benefit Analysis improved revenue opportunities and highlighted key pricing and discounting initiatives that immediately impacted profitability.
What is Customer Benefit Analysis?
Customer Benefit Analysis is a robust framework and process designed to answer two key questions that drive revenue:
- What dimensions of our solution provide benefit to our customer?
- What is the magnitude of the benefit?
It captures the answers to these questions in a unified economic model based on tangible and intangible benefits. The results of the analysis drive pricing, positioning, and packaging choices. The information also drives product backlog prioritization decisions and provides business and product leaders with essential skills as they look to increase revenue and improve profitability.
View the Recording | Download the Slides | Access the Miro Template
Questions & Answers:
Q: Is the Value System based on or related to Impact Mapping or Systems Modeling?
A: The system we described in the webinar is lightweight systems modeling to identify any relationships between identified benefits. The system we described somewhat resembles impact mapping since the cards could be interpreted to identify actors and impacts based on the specific customer segment's overall goals. Our focus is on the dimension and magnitude of benefits or impacts to align the solution, pricing, and licensing of the software-enabled solution.
Q: How does identifying the next best alternative affect the CBA?
A: Next best alternative does not impact benefit analysis. Competitors and alternative solutions will definitely impact solution development, price strategy, price structure, and price specifics like price level for each segment.
Q: When we’re talking about validation in this context, is it validation that the product does provide the benefit we think it does, or is it validation that the customer cares about the benefit as much as we think they do?
About the Agile Expert Series:
The Agile Expert series is a Partnership between Miro and Applied Frameworks where agile experts explore what's new in agile practices to inspire and educate.
Miss the first session? Check out the recording for Start from Zero with Feature Mining.
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