The Jobs-to-be-Done (JTBD) framework offers a customer-focused approach to uncover synergies and drive growth, maximizing value across ] portfolio companies
|
Aspect |
Cost-Based Model |
JTBD Model |
|---|---|---|
|
Primary Focus |
Reducing costs |
Meeting customer needs |
|
Value Creation |
Short-term financial benefits |
Long-term growth |
|
Innovation Driver |
Internal resources |
Solving customer challenges |
|
Success Metrics |
Cost savings |
Customer satisfaction, market growth |
Digging deeper into customer needs can uncover opportunities that benefit multiple areas of a business. Portfolio managers play a key role by centralizing how customer tasks are identified and analyzed:
|
Analysis Component |
Purpose |
Key Outcome |
|---|---|---|
|
Job Mapping |
Break down complex customer tasks |
Pinpoint shared pain points |
|
Need Statements |
Document specific requirements |
Build a standardized approach |
|
Opportunity Scoring |
Measure potential value |
Prioritize initiatives across teams |
|
Market Sizing |
Evaluate shared opportunities |
Understand synergy potential |
This approach not only highlights common challenges but also builds a foundation for collaboration between companies. It’s a practical way to align strategies and develop shared solutions.
thrv's JTBD platform uses job mapping to uncover overlapping customer needs across industries. For example, a healthcare tech company and a financial services provider might both aim to address "protecting sensitive information while maintaining operational efficiency." Recognizing this shared goal could lead to joint solutions that cater to multiple markets.
To make the most of these insights, portfolio managers should:
Focus on outcomes rather than specific tools or products.
Map the full range of tasks customers aim to complete across all companies in the portfolio.
Identify overlapping customer groups and their shared needs.
Consistently measure the importance and satisfaction of these tasks across different companies.
Private equity firms can use a structured JTBD approach to create value across their portfolio companies. Based on real-world applications, this step-by-step process has consistently delivered measurable outcomes:
|
Step |
Action |
Expected Outcome |
|---|---|---|
|
Job Analysis |
Map customer jobs shared across companies |
Clear understanding of overlapping customer needs |
|
Opportunity Scoring |
Evaluate synergies by market size and impact |
Prioritized list of high-potential initiatives |
|
Validation |
Use customer research to test assumptions |
Verified synergy opportunities |
|
Implementation |
Build cross-company solutions |
Unified product or service offerings |
|
Performance Tracking |
Monitor metrics and customer satisfaction |
Insights into ROI and areas for improvement |
Once synergies are identified, tracking their performance ensures long-term success.
Key metrics to monitor include:
Customer satisfaction scores for shared jobs
Cross-sell rates between portfolio companies
Customer lifetime value across shared offerings
Adoption rates of joint products or services
Tools like thrv's JTBD platform centralize customer data and track progress on job completion, making it easier to identify and implement synergies effectively.
To create a unified ranking of customer jobs across portfolio companies, it's essential to follow a structured system. This system is built on three key components:
|
Component |
Description |
Purpose |
|---|---|---|
|
Job Categories |
Groups functional, emotional, and social needs |
Ensures all customer needs are addressed |
|
Priority Scoring |
Ranks jobs based on market size and importance |
Helps allocate resources effectively |
|
Cross-Company Relevance |
Evaluates how jobs apply across portfolio companies |
Highlights opportunities for collaboration |
Specialized JTBD platforms can help by aggregating job data from multiple companies, offering a unified view that makes identifying synergies easier. With this foundation, businesses can also use JTBD insights to refine acquisition strategies.
The most successful JTBD synergy projects require three key factors:
|
Success Factor |
Implementation |
Impact |
|---|---|---|
|
Comprehensive Job Analysis |
Considers functional, emotional, and social needs |
Improves adoption rates |
|
Technical Feasibility Assessment |
Tackles integration challenges early |
Reduces implementation risks |
|
Customer Validation |
Incorporates ongoing testing and feedback |
Ensures market alignment |
These examples highlight the importance of addressing all aspects of customer needs for a well-rounded JTBD strategy.
Conduct a portfolio-wide JTBD analysis to identify shared customer needs and synergy gaps.
Create cross-company teams to address overlapping customer jobs.
Use a standardized JTBD process to uncover and capitalize on synergy opportunities.
Continuously monitor progress and adjust strategies as needed.
Once these initiatives are defined, the focus shifts to selecting the right tools to put them into practice.
Selecting effective JTBD tools is essential for aligning strategies with customer needs. Platforms like thrv provide software and structured processes to help product, marketing, and sales teams work together while optimizing efforts across portfolio companies.
Key steps for success include:
Providing targeted JTBD training for team members.
Starting with pilot projects to test and refine strategies.
Regularly assessing progress to measure and improve results.