Competitors are waging a war with you to determine whose product or service has more value for the customer. This is why it is so critical to engage in the process of developing new customer value within your organization to develop and provide what customers want. Every business idea, service and product provides a degree of value in the eyes of the customer.
Whether the value is price, ease of use, functionality, convenience or performance, companies must continually create new customer value. Our examination process reveals a lot about why your business may or may not be successful in this regard.
We examine your existing business practices such as your approach, competitive advantage, pricing and customer alternatives. Vision Launchers works with clients to enhance or modify existing products and services while determining the best methods for extracting customer value from every area of your business. When implemented successfully, we have seen triple digit growth and new market leaders emerge.
Determining the process for creating customer value starts with multiple discussion sessions with your team to summarize the following pillars of customer value:
Need: What is the need that your business works to solve or address? What is your customer need and why does someone care that your business exists? We like to ask, “Who cares?” Who cares about your business idea and why does it matter to them?
Approach: Your approach is your actual product or service. What is significant or unique about your approach, model or methodology for serving the customer’s need? Specifically, what is useful or valuable about the approach your business takes in meeting the need? How or why is it different?
Benefits: What are the benefits that exist in choosing your business approach? What are the costs associated and how do the costs compare to the benefits a customer receives? What are the benefits and features a customer receives with your approach?
Competition and Alternatives: Specifically, how is your business approach better or different than the competition or alternatives available? What are the alternatives for a customer and what advantage does a customer have in choosing your business instead?