You have 3 choices about how the business creates and provides value, we are focusing on 1 - the one we selected as our primary value proposition - the customers experience.
Customer Intimate or Service
The company value proposition or value discipline is how it provides superior value to gain competitive advantage. It provides a framework that segments the market into three value disciplines
A quick reminder for anyone unfamiliar with our methods:
F = (O + C + P)E
Financial Performance is the result of how well the Entrepreneur/Owner/Executive leads and manages Operations, Customer acquisition and retention, and has People invested in the future of the business.
The previous shows we covered Financial Performance & Processes Under Control. this show is an overview what you need to build to deliver on promise and all of the corresponding support processes.
Here is how the Balanced Scorecards converts into our weekly programming:
What does the value discipline of Customer Intimacy look like?
WHAT DO YOU NEED TO KNOW
While companies pursuing operational excellence concentrate on making their operations lean and efficient, those pursuing a strategy of customer intimacy continually tailor and shape products and services to fit an increasingly fine definition of the customer. This can be expensive, but customer-intimate companies are willing to spend now to build customer loyalty for the long term. They typically look at the customer’s lifetime value to the company, not the value of any single transaction. This is why employees in these companies will do almost anything—with little regard for initial cost—to make sure that each customer gets exactly what he or she really wants.
Is Customer Intimacy Right for You?
Changing a company's nature or culture isn't cheap or easy. But customer intimacy can create a more sustainable and profitable model for some. Ask yourself the following five questions to decide whether it is for you:
WHAT DO YOU NEED TO DO
Four Steps to Customer Intimacy
Customer intimacy is more than just aiming for customer satisfaction. It goes beyond that and requires buy-in at every level of an organization to be successful. Here are four steps that you can take to encourage such a transformation within your organization:
"The World of Business at Your Fingertips"
new choice for BUSINESS SEARCH
All IBGR Shows Notes are available for download