Wednesday, January 4, 2017

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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.

And of course if you wouldn't even have a conversation with your product, that's another story.




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


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