Customer Value

The full title of this book by Mary Kay Plantes and Robert D. Finfrock is

“Beyond Price: Differentiate Your Company in Ways That Really Matter“.

In my review posted on Amazon.co.uk, I gave the book a rating of Four Stars. This means I think it is Good and Well Worth Reading.

Here is my book review.

A leadership approach, for big rather than small businesses

Beyond Price is a book about how to escape harsh price competition by differentiating your business so it was bound to catch my attention.

The problem with reading a book that deals with your own special interest is that you find yourself thinking “I don’t do it like that, it’s wrong.”It isn’t of course, it’s just a different perspective. [continue reading…]

The full title of this book by David J. Pannell is

How to Influence Buying Criteria and open doors to More Business, Better Margins in Less Time

In my review posted on Amazon.co.uk, I gave it 3 Stars.

Here is my review.

Worth reading if price versus value is a consistent problem

This book looks at the issue where customers focus on price when there are clear differences in value between competing products. The challenge for the sales person (this book is sales rather than marketing focused) is to open up the conversation. [continue reading…]

The full title of this book by Donald Sexton is

Value Above Cost: Driving Superior Financial Performance with CVA, the Most Important Metric You’ve Never Used

In my review posted on Amazon.co.uk, I gave it 3 Stars.

Here is my review.

An interesting link between marketing and finance

The book is about CVA. This is a registered trademark and it stands for Customer Value Added. This is Perceived Customer Value minus Variable Costs where perceived customer value is the maximum that the customer will pay for your product or service. This is not usually the actual price paid and nor is it the actual value delivered. [continue reading…]

The full title of this often overlooked strategy book by Shiv Mathur and Alfred Kenyon is

“Creating Value: Shaping Tomorrow’s Business“.

In my review at Amazon.co.uk, I rated this book as worthy of Five Stars. This means it is Excellent and Very Highly Recommended to appropriate readers.

Here is my book review.

A highly original look at how to differentiate products

This book could be the best strategy book you’ve never heard of.

It’s a fiercely original intellectual work which will challenge many of the traditional ways of thinking about business strategy. Unfortunately both authors have died so it can’t be updated beyond the second edition but Creating Value has lots of insight for any business strategist and especially anyone who is interested in differentiation.

It’s not the easiest of reads because it is so challenging to the mind. [continue reading…]

Let’s imagine I’m a statistician and I want to sell my statistical services to businesses. (I’m not.)

Do you feel any urge to buy?

I didn’t think so.

You probably remember learning statistics at school and thought that it was a) confusing, b) boring and c) little practical use to man or beast.

But you’d be wrong.

Statistics is confusing to the majority of the population who struggle with anything other than the concept of an average and glaze over when they hear the words “standard deviation”.

It’s also boring and tedious to work with a lot of numbers when you don’t really understand what you’re doing.

But it can be very useful.

We haven’t connected the solution (buying the services of a statistician) with a problem.

But what about the problem of getting the right stock in the right place at the right time.

Anyone who has managed stock knows that it’s tough to get right but there are often big clues in the numbers and by better use of the application of the stock control formula you can save the costs of stockouts (when you miss the sale) and costs of excessive stocks (financing, space, obsolescence and wastage from perishables going out of date).

People will buy statistical services that help them manage stock better because it can take away a perpetual headache.

Or what about the customer service problems of queues, either in a shop or on the phone? (Don’t you hate to be told “Your business is important to us. We are experiencing unexpectedly high demand at the moment” every time you call a big company and fight your way through the automatic phone system by pressing 3-4-1-2-3?)

Queueing theory is a well established form of statistics and helping a business to improve customer service or to avoid customers walking away at the sight of a big queue is worth investigating.

My key message is that people are less concerned with what you are (whether that’s a statistician or anything else) and much more interested in what you can do for them.

And especially if you can help them to solve a problem.

We’re often told to present our [products and services as a solution but I believe you need to meet your customer where they are. And that’s stuck with a problem which they’d like to solve.

You must see your services from your customers’ perspective – it’s all about what’s in it for them.

But prospective customers are too busy living their own lives to translate who you are to what you can do for them.

You must do it for them.