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The Jobs-to-be-Done (JTBD) framework helps portfolio companies grow by focusing on customer needs rather than just product features. JTBD helps private equity firms and portfolio companies achieve measurable growth, boost market share, and streamline operations.
JTBD Principles for Scaling
Customer Jobs Analysis
Looking beyond product features to understand what customers are really trying to achieve can open the door to new growth opportunities. ParkerGale, the private equity sponsor of Biscom, applied this approach and uncovered valuable insights.
"Understanding our customer's problems with their job-to-be-done in contrast to their problems with our product uncovered actionable growth opportunities the company would have otherwise missed." - Cici Zheng, Partner, ParkerGale [1]
The secret lies in pinpointing and prioritizing unmet needs that customers are willing to pay to address. Here's how this analysis breaks down:
|
Analysis Component |
Purpose |
Impact |
|---|---|---|
|
Job Beneficiaries |
Identifies who benefits from completing the job |
Sharpens targeting and messaging |
|
Unmet Needs |
Highlights challenges in job completion |
Informs product development |
|
Growth Opportunity |
Quantifies market potential |
Helps prioritize investments |
Team Coordination Through JTBD
JTBD isn't just about products - it's a framework that brings product, marketing, and sales teams together by centering on customer needs. MSI Data serves as a great example of this alignment. Their CEO, Geoff Surkamer, highlighted its far-reaching effects:
"thrv's insights into our market and their Jobs-to-Done framework dramatically improved our marketing performance and gave us clear targets for prioritizing our product roadmap." - Geoff Surkamer, Chief Executive Officer, MSI
JTBD Implementation
To make the most of the Jobs-to-be-Done (JTBD) framework, you'll need a clear, structured plan.
Implementation Steps
-
Start with Customer Jobs: Identify Needs and Opportunities
The first step is to uncover the unmet needs of your target customers. -
Refine Sales Strategies
Shift your sales focus from technical features to the specific beneficiaries of the job. -
Align Marketing Messages
Tailor your marketing to directly address customer jobs and their unmet needs. -
Shape Product Roadmaps
Use customer willingness-to-pay data to guide product development and prioritize features. -
Unify Teams for Better Results
Bring product, marketing, and sales teams together under a shared JTBD understanding.
Measuring Success
Track the effectiveness of your JTBD strategy with these metrics:
-
Growth Metrics: Look at revenue growth, new bookings tied to JTBD insights, and market share improvements.
-
Marketing Results: Monitor conversion rates and ad performance.
-
Sales Performance: Evaluate win rates and how quickly deals close. By focusing on job beneficiaries, companies have seen substantial improvements in competitive win rates.
"Understanding our customer's problems with their job-to-be-done in contrast to their problems with our product uncovered actionable growth opportunities the company would have otherwise missed."
– Cici Zheng, Partner, ParkerGale [1]
Key Takeaways
JTBD helps drive portfolio growth by aligning teams around customer needs. This approach leads to better outcomes in marketing, sales, and product development, making it easier to scale portfolios effectively while improving overall performance across organizations.