Customer value management will help you accurately determine what drives value for customers, measure your performance relative to the competition, align efforts, focus scarce resources and create your sustainable competitive advantage.
The concept of customer value management is really simple. It's about:
- asking customers in your target market what they're looking for when they do business with vendors
- determining how customers in your target market rate the value you provide relative to the value provided by your competitors
- deciding what changes on your part will have the greatest positive impact on customers' perception of the relative value of your offering
- aligning people and processes in a common focus to deliver value
- providing a consistent flow of data and information to keep them aligned
- winning with customers, with employees and with shareholders
Every company in today's business environment is stressing customer focus. However, what's lacking in most companies are useful and practical ways to capture customer needs, measure how well you're satisfying those needs, and build actionable plans to improve your company's bottom line—that's what customer value management will do for your company!