More and more executives and companies are using the phrase “Customer Value.” Yet its understanding in main stream management is hazy. The word “value” is overused and under understood. Chris Ross, the pharma industry writer, has suggested that “There’s a strong argument for changing the term ‘marketing’ and renaming it ‘value creation’.”1 Yet most companies try to create value, and fail to do so as well as they could. Why is it this the case? Because executives do not have the tools to implement Customer Value completely to their benefit and the success of their company. This book corrects this in simple steps, defining value and Customer Value, how it builds loyalty, market share, and profitability; and how Customer Value can be measured and created. Fundamentally, value means doing good for others, and this can be done easily and increases the value (worth of your offering). The book suggests easy methods such as building a Customer strategy, breaking silos, bringing all departments into focusing on the Customer, measuring Customer Value Added, instituting a company-wide circle of promises that ensures promises made to Customers are kept, starting
Customer-Centric circles, Customer Bill of Rights, using resources such as Total Customer Value Management and quality techniques on Customers, thereby building Customer-centricity and marketplace success. I want you to ask “Why wasn’t I doing this” and then figure out how to create value. CxOs and executives can then institute these simple ideas to create greater Customer Value. Following these learnings will make companies and executives more
Customer-centric and winners in today’s difficult marketplace, because
Customers will become their best advocates. All executives (including students), managers, all companies, and institutions will benefit from this book. Remember that if you create value for others (Customers), they will create value for you! This book will help you create value for yourself.
Keywords
Attribute trees, co-creation, culture, customer-centric circles, customer experience, customer strategy, customer value, emotions, employee value, executives, total customer value, value creation, value management, waterfall of needs