Customer value is the basis of competitive advantage, satisfied and delighted customers and ultimately increased profit.
Sales and marketing efforts need to be aligned with value.
Creating customer value is about being customer-centric = having a market view rather than a product or technical view of your offer.
Customer-centric companies are 60% more profitable.
Isn't just about the price. It is subjective - what the customer perceives to be valuable.
Different customers will perceive these products' value in different ways BUT customers decide on value based on what they give for what they get. So, it is important to understand your customer before you offer them value.
What is value?
Relevant = realise it’s the customer view that matters
Distinct = product or service is better than the alternatives
Benefit = product or service solves a customer problem and fulfills a customer need
Total cost of ownership = considering all the immediate and ongoing financial costs
Develop themes that resonate with the customer, for example...
Selling the consumer value rather than the product.
Strategic thinking 🤝 creative outcome.