Would your product make a great dinner date? By Roy Osing
Or a guest for the
weekend?
A dinner conveys a certain amount of value being derived but a weekend is at another level completely.
The amount of personal time and money you are prepared to invest on anything depends on the amount of value you receive.
How is value described?
On one level, value is derived by how a product FUNCTIONS. Does it consistently work as promised? Does it deliver to specifications?
On another level,
value is created by how a product makes the
buyer FEEL when it is used or consumed.
Is it special in some
way? Is it different in a way that makes it remarkable and memorable?
Does the consumer
mention and recommend it to their friends?
Which is more
important: value derived from function or value created from feelings?
Which is the better
metric of product performance? Which has the greater strategic implications?
Most organizations
believe a product is performing well if it consistently does what it's supposed
to do.
If product promises,
or specifications, are delivered 24X7X365. Dependability and consistency are
the primary key success factors.
The issue is that performance
doesn't go far enough today; customers expect products that work as the
product manual promises. And when they do, they are at best
SATISFIED .
No long term loyalty is created and the customer will leave for a better "mouse trap" when it shows up. And when products perform below expectations, customers are quick to voice their negative feedback to as many people as they can.
On the other hand, when the product AMAZES, when memories are created and magic happens, customers buy-in at a completely different level.
They turn into maniacal fans who go out of their way to support the supplying organization in every way.
They
"spread their word" to others .They talk up how great the company is and
strongly recommend it to others.
By all means ensure your
product performs consistently, but don't stop until you wrap it up with an
AMAZE layer that delights your customer.
It's AMAZE that
creates long term value for the organization.
About Author
Roy Osing (@royosing) is a former President and CMO with over 33 years of leadership experience covering all the major business functions including business strategy, marketing, sales, customer service and people development. He is a blogger, content marketer, educator, coach, adviser and the author of the book series Be Different or Be Dead
About Author
Roy Osing (@royosing) is a former President and CMO with over 33 years of leadership experience covering all the major business functions including business strategy, marketing, sales, customer service and people development. He is a blogger, content marketer, educator, coach, adviser and the author of the book series Be Different or Be Dead
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