Webinar talking about What is value, why is value at the centre of any business activity and how you can drive value creation

1. 1
Creating Superior Customer Value

2. 2
Definition of Value
Why focusing on Value ?
How can you drive Value creation ?
Trust is a big part of Value
Q&A
Agenda

3. 3
If Business is the art of creating value,
then we all must understand the concept of value
Dr Ian Brooks

4. 4
Subjective & variable
 Our reputation
 Urgency of the situation
 Past experience with a competitor or other suppliers
Features ≠ Benefits
Do not sell features. Customers are only interested in benefits
Value = Benefits - Costs

5. 5
Customer perceived Value
Business
opportunity .
Business
constraint
Personal
progression
Image
perception
Monetary cost
Time cost
Effort cost
Ownership cost
Total customer
benefits
Total customer
costs

6. 6
Why
focusing on
value?

7. 7
Employees think about their jobs
Business people think about creating value
for their customers
Dr Ian Brooks

8. 8
We don’t get paid for the hour
We get paid for the value we bring to the hour
Jim Rohn

9. 9
Why People (Customers) become involved in relationship ?
 To get their needs met
 But what if they don't …
How to cement a relationship ?
 Customer satisfaction
 Business performance

10. 10
Business is the activity of creating value
Value is at the centre
Sign new
customers
Grow existing
customers’ partnership
Lose once loyal
customers
You become the
driving asset

11. How
can you drive
value creation?
11

12. 12
Put yourself in your customer’ shoes
Invest time in getting to know your customer
 Watch & Listen
 Never assume, ask open questions … dummy up !
Look through your customer’s eyes
Image outside in and not inside out

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Listen, learn, accept the customer's point of view,
communicate our acceptance and care, then show them that we
will work to solve their challenges
Write down your challenges, the customer's, then figure out as
many alternatives as possible to find a solution that works for
both parties
Be prepared to give and take
Always end up agreeing on something that is anything LESS than
a Win-Win deal and satisfied customer
Put the Customer First

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Be honest & straightforward
 Use "I" statements to take ownership of your opinions
 Use accurate descriptions. No exaggerations or judgments
 Use direct language
Being respectful of your customer’s needs & feelings
 Show empathy, respect
 Start with a positive
 Present your opinion neutrally
Assertive Communication

15. 15
Define
Measure
Continuously improve
Seek feedback
 What did we do well ?
 What did we not do that well ?
 What did we do that is not required ?
 What did not we do that is required ?
 What challenges do you have doing business with us ?
 What challenges do you have satisfying your own customers ?
Focus on Customer Satisfaction

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Many benefits are seen as hygiene factors
 Do them well and nobody notices
 Do them poorly and you lose business
Creating benefits
1. Get the basics right: be reliable, effective, efficient, error-proof
2. Make it easy for the customer to benefit from your core services
3. [ Give something extra, e.g. provide solutions to challenges your
customer would love to solve but do not realistically expect you
can ]
Value chain: step by step approach

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Developing Trust
Trust is the glue of life
It’s the most essential ingredient in effective communication.
It’s the foundational principle that holds all relationships.
Stephen R. Covey

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Simple courtesy (good morning, please, thank you)
Honesty
Loyalty (no bad-mouthing) > be respected over being liked
Take responsibility for yourself
Learn to say “I am sorry”
Your Character

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Keeping of a promise: do what you say you are going to do
Develop skills, grow experience & do not be afraid to fail
You’ve got to have a plan
Seek to understand, then to be understood
Communicate
Collaborate
Your Competencies

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Maintain a high level of character & competencies over & over
again
Develop a habit of excellence
Your ultimate goal:
Provide so much trust and value that people will be disappointed
if they cannot do business with you
Be consistent

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Be Effective before being efficient

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Be proactive; focus on the things you have control over
Begin with the end in mind
Put first things first
Work collaboratively
My personal tips

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Make these propositions a true habit !
 Knowledge
 Skills
 Desire
What’s Next ?