You see it every day. Organizations stating they provide the best product or service. But few of them ever prove it. In our experience, we estimate that fewer than 7-percent of all companies illustrate the tangible value that their customers receive from their product or service. Regardless if you are a manufacturer, a service company or not-for-profit organization, it is your responsibility to prove the tangible value of your competence to your current and potential customers.
In a recent blog, we talked about identifying your competence and creating a differentiation for your organization. Simply said, your competence is what you do better than anyone else within the markets where you compete. It is the real reason your customers ultimately do business with your company.
- Measurement – Identify the key measurements that capture the tangible value that your competence delivers to your customers.
- System – Implement a company-wide measurement system by identifying all the customer touch points and the tangible value that is delivered at each one.
- Current Customers – Rarely do your current customers fully appreciate the value your competence delivers to their organization. A business review process and other sales techniques must be developed that consistently communicates the tangible value of your competence to current customers.
- New Customers – Many organizations struggle to land new customers because they fail to communicate the tangible value their competence will deliver. You must develop sales tools that illustrate that tangible value to your prospects. Prove to them that the total value they will receive from your organization is greater than anyone else, especially low-price suppliers.
- Implement – Implement the process gradually across your customer base by identifying two or three of your long-standing customers to sharpen the process. They will provide candid feedback to improve your process while gaining a greater understanding of the significant value you are delivering to their organization.
As an example, we work with a wastewater treatment company that is able to prove that they save their customers, on average, $250,000 a year in reduction of sewer costs, chemical usage and wastewater system inefficiencies. They hold annual business reviews with key customers to communicate the tangible value of their competence and they are gaining new customers through effective sales presentations.
Separate your company from most organizations that say they provide the best value, but don’t prove it.