Value for customer is a customer’s perception of what they get versus what they give up when doing business with a firm. Four dimensions make up the overall value a customer perceives: 1) functional; 2) experiential; 3) symbolic; and 4) economic. But which combination is the right one?
Find Your Organization’s Value Sweet Spot!
The value-for-customer sweet spot is the blend of the four value dimensions that:
- Delivers on target customers’ value needs.
- Matches what your organization excels at.
- Gives you a competitive advantage.
Our New Exercise Helps You Find Your Organization’s Value Sweet Spot
To help you do that, we created an exercise. We initially created this exercise for a Forrester Leadership Boards workshop in collaboration with my analyst colleague and coauthor of the initial value-for-customer report, Shar VanBoskirk, and with Forrester Leadership Board advisors Shyanne Browning, Su Doyle, and Kelley Spiridakis. Su and Kelley graciously agreed to record this video so that more Forrester clients can conduct this exercise.
Our new report, “Video: How To Find Your Value-For-Customer Sweet Spot,” guides you through that exercise with:
- An instructional video, the first part of which recaps critical aspects of value for customer with real-life examples while the second part guides you through the exercise.
- A worksheet that you’ll use during the exercise.
- A slide deck we used for the video so you can share it with stakeholders as you facilitate the exercise.
We recommend that you run this exercise with a diverse set of stakeholders, including those in product, user experience, customer experience, design, pricing, marketing, the channel, and strategy.
Please let us know whether this exercise is valuable and how we can help. And if you want to know more about value for customer, check out the report “Value For Customers: The Four Dimensions That Matter.”