In our previous blog post, “3 Guiding Principles for the Application of Lean in Marketing & Sales”, we offered a trio of overriding Lean commandments. In this post, we point to specific Marketing & Sales targets for Lean that will simultaneously increase customer received value and marketing and sales ROI.
“All economic value accruing to your firm has as its source, the customer’s perception that they will receive greater economic, emotional, political or physical value from your product or service, than it costs them economically, emotionally, politically or physically to acquire and use.” jerry Vieira, CMC
I am always amazed at the cost and relative uselessness, for small to mid-size B2B firms, of formally published market research reports. Certainly, strategic business decisions must not be made in an informational vacuum, but expecting meaningful, actionable information to come from a general market research report, read by dozens, if not hundreds, of competitors, is delusional. So, where should small to midsize B2B firms look for accurate, current, meaningful and actionable data to support their strategic breakthroughs? Few small-to-midsize B2B businesses avail themselves of the hidden army of market researchers already at their disposal. That army comprises any and all of their employees that have regular interaction with customers or, their customers’ markets. That team includes the sales and marketing team, product designers, quality people, customer service, their suppliers and their procurement people. This army is already there and on your payroll. Take the simple steps to mobilize it.
What your company and its products and services mean to their target markets, i.e. the customer experience surrounding your value proposition, must have already been delivered and validated in the marketplace before a brand can be meaningfully established. Customers must experience what they perceive as an unparalleled product or service experience first - and only then will the synaptic connection be made to the brand name and logo.
Lean is the process of maximizing the value delivered to customers by eliminating any wasted marketing or sales activity or expense that does not create, communicate or enhance customer-received value.” In this QMP Insights blog we offer an approach for improving both top and bottom-lines through the application of “Lean” principles to six key areas in the marketing and sales function of a firm.