Grow your business – Part 16 – ANALYSE YOUR VALUE DIFFERENTIAL

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Remember, it is important to be different to your competitors. Use the information you’re gathering from your customers to establish:
(a) what they value
(b) what they don’t value

Here’s how you do it. List all the key attributes of your products and services, such as:
1. Speed of delivery
2. Pricing policies
3. Range of products
4. Showroom
5. Website
6. Staff product knowledge
7. Staff responsiveness
8. Handling of complaints
9. Handling of product returns
10. Payment policy
11. Ordering system
12. Guarantees
13. Product catalogue
14. Regular communications

Then ask your customers to tell you how important each of these attributes is to them on a scale of 1 – 10, with 10 being the most important and 1 the least. Next, ask your customers to tell you how they rate your company on these same attributes. From this information, you can develop a value differential for each attribute.