There seems to be a general fuzziness on the subject of customer value and although there is a consensus across the board that growing said customer value is a good thing, for both customer and business – not everyone is clear on what that means. Rick Spence at the Financial Post articulates it well:
“Customer value is generally defined as the attributes of a product or service that generally encourage customers to choose one vendor over another. These may be product-related or service-related, tangible or intangible. “
He is right, of course – you can’t depend on a single variable to formulate a sustainable customer value growth plan. Spence goes on to illustrate the need for “listening harder” to one’s customers in order to grow customer value. That is, of course, an integral part of the value strategy – but it can’t be all of it. A fierce SaaS leader also needs to have her Customer Treasures ready at hand.
Few are the things customers love more than loot (matey!)