Are you Delivering the Value your Customers Expect?
Have you ever purchased something only to realize shortly after that what you purchased was nothing special? Have you ever made a purchase and then realized that what you invested in was no different then something you owned previously?
We’ve all been there.
Most recently for me it was the purchase of something called an “ogoSport Sports Disk” which is supposed to combine the sport of Frisbee and badminton. My wife and I thought it would be a great game for the boys to play but in reality the disks are too heavy to fly and the lack of a handle makes badminton near impossible.
Just another product with great marketing that is underwhelming customers. I’m sure you’ve had dozens of similar experiences with examples like “New Coke” or “Blu Ray” immediately coming to mind.
But what’s the true cost of introducing an underwhelming product or service into the marketplace? Obviously a loss of revenue will occur, but what about the soft costs like lack of trust, loyalty, reputation or brand?
I often ask my strategy clients this very question and I’m curious about your business. Are you producing or delivering products or services that are underwhelming customers?
Here are some questions for you to consider in order to assess the extent to which your products or services may be underwhelming customers and you didn’t even know it:
- Does our product or service deliver exactly what our marketing promises? Can we support this?
- Are our customers willing to provide testimonials of their experiences that align with our marketing promises?
- Is the demand of our products and services steadily increasing relative to our marketing investment?
- What kind of comments are being portrayed online relative to our products/services (i.e. social media)?
- Does our reputation with new prospective customers precede our presence?
The key message is this. Be absolutely sure that what you promise (aka your marketing) delivers the value customers expect. If it doesn’t the results can be catastrophic. As I often tell my clients, don’t be caught in the overwhelm of business decline simply because you underwhelmed your customers.
© Shawn Casemore 2017. All rights reserved.