Creating Value for Customers
Creating Value for Customers – Tackling the how Question
Keywords – Creating Value for Customers – How to Create Value for Customers
Does value only equate to the monetary exchange that happens between the party conveying a product or a service to the customer, or is it something more?
How do you define “creating value for customers”?
Does creating value depend on the kind of business, i.e. B2B or B2C, or we can define value in definite terms?
Questions like such depend on the mentality you have for your business. In fact, the term “value” has started to gain attention in recent times, portraying a collective image of a multitude of business exchanges.
These exchanges can be anything from providing a good customer service to understanding what a customer really wants. I have my own way of defining value.
Instead of diving straight into the idea of value itself, I take an indirect route, trying to draw a deeper answer to the million dollar question.
Let’s Define Customer before Value
As “business value” is not a solitary term and generally comes as “creating value for customer”, how about we define our customer better?
A customer is a client with whom we have established customs – agreed upon terms and expectations that are mutually binding.
A client, on the other hand, comes from the Latin word “clientem”, meaning to incline or to bend.
So, a customer opens up to be any entity with the power to make us do something. You can be a customer of your own efforts when you are fixing your bed in the morning, as much as when you are renovating someone’s home.
So, if customer is a broad term, value can’t be bound to a singular case either.
You doing something for pleasure, money, free, or complementary – tangible or intangible – are all forms of value creation and you should not close your eyes on any of them.
Therefore, when talking about creating value for customer, whether you are a B2B or a B2C business, you need to encompass more than the traditional ways of creating value. And, you need to share it all.
Are You Showing Your Value Effectively?
The business environment is changing with options popping up all over us.
Customers now expect to see value before paying for it. But do not worry.
The business environment has changed because of the element of internet in the first place, creating new platforms to compete over. Digital being just one of them.
Now, you have a multitude of digital channels, including videos, blogs, and even podcasts. And, the beauty of digital value is its longevity. As long as your domain is active, your value remains out there and stays visible.
So, what are you doing to create value for customer?
To discuss this, get in touch today.
ETYMONLINE (2018) Client | Origin and meaning of client by Online Etymology Dictionary.
SMALLWOOD, N. (2010) Four Ways to Create Intangible Value. Harvard Business Review.