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THE B2B ELEMENTS OF VALUE - Coggle Diagram
THE B2B ELEMENTS OF VALUE
Which elements matter most
Analysis of the results reveals how much excelling at multiple elements pays off
In IT infrastructure it’s strongly correlated with higher customer loyalty
Done according information gathered on their perceptions of how the sellers performed on the 36 non-table-stakes elements of value.
IT infrastructure customers were more apt to make repeat purchases from the strong performers.
Seven of the top 10 elements reside in the pyramid’s ease-of-doing-business level, suggesting that IT infrastructure suppliers can break out of the commodity trap by excelling at providing both objective and subjective value
Product quality
Expertise
Responsiveness
Hope
Integration
Vision
Risk reduction
Cultural fit
Simplification
Savings
When we calculated how much each element influenced NPS , product quality, expertise, and responsiveness emerged as the strongest predictors of customer loyalty
Putting the elements to work
When B2B companies conduct a full elements analysis, they are often surprised to find big gaps between their self-assessments and customer opinions of the overall experience of buying and using their offerings.
When managers are unsure of where to focus their efforts to innovate with technology, an elements analysis can be useful.
Improving on the elements that are the source of their offerings core benefits will enable vendors to better meet customer needs.
By analyzing data the company would be able to determine where buyers’ priorities lie, where it falls short relative to competitors, and which areas merit investment.
Getting started
To identify the elements a customer’s prize most and determine how best to enhance the offerings
Imagine ways to increase value
hold daylong ideation sessions to determine
which core elements to focus on first
Refine, test, and learn
Assess the best ideas from the ideation session by discussing their appeal with customers and your firm’s ability to deliver on them
Talk with customers
To understand their experience
Benchmark
Benchmark your company’s value proposition against your competitors’ by surveying your customers
Apply the acid test
Reevaluate how you stack up against competitors, ideally by rerunning the original research
the new PE investors addressed the following three questions to determine where to invest:
How do we bridge the gaps and seize opportunities
to differentiate in the market?
Can we launch a minimum viable product without
breaking the bank?
How does our value proposition compare with
competitors?