6 Targets for Applying Lean in Marketing & Sales

Boosting Customer Received Value Through Lean

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.

Target #1: Lean Applied to Market Focus

Face the facts. Your product or service offerings do not deliver the same economic, emotional, political or physical value to all market segments equally. Lean means focusing your products on market segments where the total value received by customers is its highest. If that situation exists, the Law of Economic Value is satisfied.

The Law of Economic Value states:

“All economic value accruing to your firm has as its source, the customer’s perception that they will receive more economic, emotional, political or physical value from your product or service, than it costs them economically, emotionally, politically or physically to acquire and use.” ©

Research shows that the following benefits accrue to a firm if the Law of Economic Value is fulfilled:

  • the ability to garner price premiums
  • faster market penetration
  • higher customer satisfaction
  • more market peer-to-peer customer communication of that value proposition
  • higher interest in your product from channel partners
  • higher probability of achieving market share leadership in that segment
  • reduced marketing and sales expense
  • improved sales win rate and faster time to close
  • reduced product design costs and a clearer product evolution path
  • greater returns from focused on line marketing investments

Market Focus is Lean in Action.

Target #2: Lean Applied to Product Requirements

Feature creep is the antithesis of Lean. It can be particularly nefarious in high tech firms where brilliant and creative engineers, encouraged and abetted by marketing and sales folks, attempt to stuff all the capabilities they can into a product to make sales as easy as possible.

The truth is, feature-stuffing typically causes delays in new product launches, ingrains price and profitability pressures in the product and results in a general market positioning of “everything to everyone in just one package”. Everything-to-everyone products inevitably lose market share to focused, niche offerings.

Focused Product Requirements are Lean in Action.

Target #3: Lean Applied to Marketing Communications

The wisdom of Lean and focused market communications is the toughest principle to convey to marketing and sales teams. The common fallacy is that, “more marketing expenditure is better than less”. Marketing and sales teams typically will fight tooth and nail to avoid reductions in this sacred budget arena. They believe that more marketing dollars across more expansive markets means more customers. Not so.

Research shows that communications of a new idea is best accomplished through peer-to-peer opinion leaders in a specific target market. That research revealed that peer-to-peer communication is 13 times more effectively than mass communication. Focused marketing communications programs that reach those opinion leaders, supported by value propositions achieved through market-focused product design, is the most economically productive combination that can be achieved.

Focused marketing communications is Lean in action.

Target #4: Lean Applied to Channel to Market

Your market share will eventually erode if your channel-to-market provides value only to you and not your customers. Marketers must be vigilant to assure their channel delivers meaningful and relevant value to customers and clients first.

Marketers must also recognize that the customer value the channel must deliver changes with the maturity of the industry. In a fledgling market the channel may be required to supply training, installation, configuration and integration services. In a mature market, those expensive services must be replaced by the channel’s ability to quickly deliver spare parts or service.

Evolving Channel Value Delivered is Lean in Action

Target # 5: Lean Applied to the Sales Process

An oft-cited statistic claims that 30% to 50% of the opportunities in the average sales person’s pipeline won’t close because the customer makes a decision to notbuy anything. The sales person has, in effect, wasted time and money pursuing something that was destined to never result in a sale.

We suggest a set of 5 criteria that can improve a sales person’s ability to qualify an opportunity and save time.

  1. The intensity of the customer’s need or problem,
  2. The degree to which the customer believes your product can meet that need,
  3. The degree of the economic, emotional, political or physical value the customer will receive by buying the product or service,
  4. The customer’s perception of your product’s relative competitive advantages ,
  5. The existence of a customer champion for your solution

Good Sales Qualification Discipline is Lean in Action.

Target #6: Lean Applied to Market Intelligence Feedback

Sound strategy cannot be developed without current and accurate market intelligence. Rapid response to market intelligence feedback is critical to business success. That intelligence may comprise some or all: competitive moves, customer satisfaction, barriers the sales people keep running into, the health of the customers’ markets, usage idiosyncrasies and a host of other informational tidbits. The sales team must be at the forefront of gathering this market intelligence. The sales team is the one company asset that is in the most frequent communication with customers.

Here are some thoughts about making your market intelligence gathering Lean:

  • Create a market intelligence section as part of your sales person’s weekly or monthly sales report or presentations
  • Train your sales people how to question, listen and observe when they are in front of a customer – not just spew the benefits of your product
  • include providing market intelligence in the sales compensation plan and sales position descriptions
  • provide the ability to award spot bonuses for the most timely and important pieces of information that come your way
  • read the market intelligence reports; think about and acknowledge them by calling back the sales person who provided the information, thanking them and getting more information
  • Understand what pricing pressure means. Pricing is typically a symptom of a bigger strategic problem, centered on customer-perceived value. Make your actions value-delivery related, not pricing related.

Rapid Collection and Response to Market Intelligence is Lean in Action

Conclusion:

The application of Lean principles to marketing and sales requires no major cash investment. In fact it saves cash. A firm of any size and market can deploy Lean in marketing & sales and begin to reap the economic rewards quickly.

Lean principles assure that customers receive the best value possible – and in return, consistent with the law of economic value, your business optimizes its own economic performance.

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Copyright Jerry Vieira, CMC and The QMP Group, Inc. All Rights Reserved

For more information on the application of Lean principles to Marketing & Sales, call Jerry Vieira, CMC at 03.318.2696 or visit the QMP Group website atwww.TheQMPGroup.com

The Law of Imbalanced Value

Those of you who frequent my blog will know I occasionally make reference to “The Law of Economic Value”. I am now calling it “The Law of Imbalanced Value”©. The reasons will become apparent.

That law states:

“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.” ©

When we consider any investment of time, energy, money or emotion, we hope for a meaningful return on that investment. We look for an investment that will make us more money (economic), make us feel good (emotional), help us look good to the right people (political) and/or relieve our stress or pain (physical). If some combination of those benefits are not envisioned, we will not be motivated to invest. If the mix of those benefits is not delivered in the optimum relative proportions, we will not re-buy.

The relative levels and mix of the four customer-received value attributes (economic, emotional, political and physical) is a business’ complete value proposition.

At the receiving end, a mix of those same four value attributes must be expended by the customer to buy and use a product.

A common example of the range of complexities associated with this law of imbalanced value and the relative value attribute mix, becomes apparent by considering the process of buying a diamond engagement ring. Imagine the complexity, mix and range value attributes considered in such a purchase.

Thank goodness our B2B world is simpler.

Or is it?

The Value Quotient (and why it must always be greater than 1)

Value, by definition, equals benefits divided by cost. It is a quotient.

The Law of Imbalanced Value © defines the Value Quotient as the Sum of Perceived Value Attributes Received by the customer (benefits) divided by the Sum of Perceived Value Attributes expended by the customer (cost).

This equation needs to yield a perception or feeling on the part of the buyer of a return much greater than 1, or much greater than break even. If that perception is not triggered, the purchase will not be worthy of consideration.

This means the value quotient must be significantly imbalanced in favor of the customer. It also means that the customer must consider all contributing value attributes in their decision process. It also means that a customer-centric marketing and sales process must incorporate the defacto creation, communication and use of that quotient.

The following questions can help you assess and appropriately adjust your value attributes to deliver a perceived imbalanced value quotient to customers.

1. Have you surveyed your customers to ask what value attributes they receive from your products and your firm – and in what order of importance?

I confess to being surprised when I did that survey for my own business several years ago. That answer was flattering, but not what I expected. The result of that survey was an increase in the amount I am investing in what they told me was important vs. what I had thought was important.

You will probably, need to face some cold truths when you see the results of your survey too. Then you must exhibit the humility and courage to reallocate time, money and people to reinforce what customers perceive as valuable. It may be painful, but the reward is less wasted resources on non-customer-value producing activities (see our related post on “Applying Lean in Marketing & Sales”), higher sales and higher marketing & sales ROI.

2. Do customers in all your target markets perceive the set of value attributes delivered by your product/service in the same proportions?

Probably not.

Sub-sets of customers with similar value-attribute profiles form a de facto market segment. Whether or not they fit neatly into, or can be labeled as, a traditional vertical or demographic category is irrelevant.

This kind of market segmentation, based on a common mix of value-attributes received, permits a narrow and cost effective focus on those segments. In these segments the profile of value-received delivers the highest value quotient to customers. This approach typically results in less price competition, higher differentiation and more effective peer-to-peer communication throughout your customer community.

In other words, a common value attribute profile defines your customer community.

3. Do your marketing and sales activities (from product definition and design, through marketing and sales, to customer service) consciously integrate and align the four customer-received value attributes with your target market?

Many small to mid-sized B2B businesses still adhere to a one-dimensional, surface-level economic benefits approach to marketing and sales. As differentiation they may tack on customer service and good relationships. This approach leaves too many unprotected dimensions of value that competitors will exploit.

4. Do your recruiting and training programs communicate and inculcate in your employees and culture your unique formulation of the Law of Imbalanced Value?”

A firm’s value proposition, its unique combination of the four value attributes it delivers, must not be left to the passive process of osmosis, any more than recruiting and training a new member of a football team can be left to chance. The new player must integrate into the team’s system, practice and train hard.

A Non-Action Call to Action

I call on you to think. Not do, but think. Not multi-task. Think.

This is the first, and most common barrier to overcome in achieving the insights and benefits that can accrue from designing your business around the “Law of Imbalanced Value”. Ask your customers, group them by common value attributes and optimize their value quotient.

*****

Copyright 2015 Jerry Vieira, CMC and The QMP Group, Inc. All Rights Reserved

For more information on the process of optimizing the value model and incorporating the Law of Imbalanced Value into your business, call Jerry Vieira, CMC at 503.318.2696 or email Jerry@qmpassociates.com. You can also elect to describe your challenges through our Contact Us page

Discovering the Gold Within Easy Reach

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 market data to support their strategic breakthroughs?

 

The Free Source of the Most Valuable Market Research:

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.

 

How to tap that resource?

There are several low-no-cost actions a firm can take to extract gold from that untapped resource.

  1. Make the expectation for discovering, recording and reporting market intelligence explicit and universal. And reward it!

The most significant growth breakthrough I have personally witnessed was identified by my client’s CFO who discovered, through a casual comment made by his next-door neighbor, an unexpected market for their product that no one had anticipated.  A quick investigation revealed that the economic benefits received by the single customer they already had in that market were so significant that simply by refocusing the sales force on other similar customers in that market, the firm’s sales more than doubled.

The great business thinker Peter Drucker suggested that firms should pay particular attention to, what he calls, the unexpected success – no matter how small they may appear on the surface.  These unexpected successes can signal huge growth potential.

To get the market intelligence gathering collection process started, some firms simply add a section to their employees monthly or weekly reports, entitled “Market Intelligence”.  And it helps to provide public recognition and perhaps a surprise bonus for the most fruitful information provided.

  1. Train the team on what to look for and how to ferret out key information

What to look for may encompass: bits of competitive intelligence, customer and user data, any information about the growth, health and what’s driving the customer’s markets, and, most importantly, applications and uses for your products that are innovative, provide high customer value and that you hadn’t thought of yourself.

Train and expect your team to develop heightened awareness, keen curiosity, ask lots of questions, and dig deeper into customer motivations, benefits and markets.

At another client, a very small volume, but rapidly growing, part they were supplying to a customer, was discovered to be an early indicator of healthy growth in an emerging strategic market.  As in the previous case, a simple partial refocus of the sales team to that sector created multiple years of strong double-digit, very profitable growth.

  1. Create a standard business process for collecting, analyzing and making decisions based on that information

A small company may have, when all hands are tuned on to market intelligence gathering, a dozen or more people regularly feeding their observations into an analysis and clearing house function.  One individual, equipped with a good set of analysis tools, is all it takes to assess that data – and it’s not a full time job.  But the rigor and discipline associated with that analysis must be maintained and acted upon for the results to be resalized..

That analysis tool kit must enable the sorting and validation of hidden customer value, target market attractiveness, competitive positioning opportunities and untapped market potential.

The only thing standing between you and reaching out for that gold that is within your reach, is simply the decision to do it.

*****

For more information on how to tap into market data gold laying there in front of you, call Jerry Vieira at 503.318.2696 or email to Jerry@qmpassociates.com

5 Steps to Assuring the Success of Your Branding Program

 

A Good Brand: Cause or Effect?

Perhaps it’s a result of living in the Northwest for the last 20 years that I am periodically afflicted by the “salmon complex” – the uncontrollable impulse to swim against the current, despite obstacles. And so it is, I find myself in such a stream with regard to the growing pandemonium toward B2B branding programs. It’s not that I don’t believe that “Brand” has value, in fact, just the opposite. Brand has enormous value. It’s just that brand power is the effect, not the cause of B2B market success – and the strategic research proves it.

I have had the opportunity to observe a wide range of branding initiatives at B2B companies. At opposite ends of the spectrum, two come to mind. The first was a simple logo redesign for a small private company. The other, a million-dollar comprehensive branding initiative for a mid-market public firm. Neither initiative seemed to have any visible impact on the firm’s earnings.

After those initiatives had been in place a while, I asked the executives of each company whether they thought their branding program was a success. The answer, in each case, was an unequivocal “No”.

Not too long ago I gave a talk on market strategy to MBA students at a prestigious local university. At the end of the talk, one of the students approached me and expressed amazement and disbelief. How could I possibly give a detailed talk on market strategy without mentioning the importance of branding? He was agitated and animated, his arms waving about as he skittered around in front of me, like a drop of water on a hot skillet. It was as if I had missed stating the importance of water to agriculture.

 

So, why all the hysteria and stampede around branding?

Even though branding programs often fail to move the needle – their popularity remains ubiquitous. There are a number of reasons for this:

  • It feels good: A new brand. A refreshed tag line. A fantastic logo. A clean, well-constructed website. Looking at these products of a branding program makes you feel good. Customers can quickly see the highly visible outcomes. Executives smile at the wondrous accomplishment, reinforced by the adulation of their peers telling them how snappy it all looks.
  • The majority of the creative energy needed can be subcontracted to, and accomplished by, outside folks – minimally increasing anyone’s internal workload
  • Marketing and sales teams are hounding their management to spend money on branding
  • Branding gives the marketing team something concrete to focus their energy on – something on which to build a whole marketing communications program
  • Websites need to be constantly refreshed anyway – and a rebranding typically does that in a big way
  • There’s little downside risk, except for the money spent
  • Everybody’s doing it, and
  • Everybody’s selling it

Now, please don’t get me wrong. I sincerely appreciate the value of a good brand image in attracting customers – but a brand (the image, interpretation and meaning of your name, tag line and logo) is an effect not a cause, of success. What impact would the Apple logo have if Steve Jobs hadn’t first amazed the world with a steady stream of mind-blowing, innovative products?

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.

 

Strategic Marketing Research and RPQL

The voluminous PIMS* database and research from the Strategic Planning Institute, conclude that the customer’s perception of a product’s quality relative to its competitors, is the prime driver of financial success. This is called RPQL – Relative Perceived Quality Leadership. The research concludes that financial success is the outcome of achieving RPQL – and brand power is also a result of RPQL – not the other way around.

Quality means more than just “it won’t break”. It means that the product or service experience meets customer expectations – consistently delivering on its promises. And, delivering a relative perceived quality leadership experience takes consistent organizational rigor and discipline. No matter the logo! The customer must experience RPQL first hand, and then the synaptic connection can be made to the brand name and logo.

 

Achieving the Branding Impact You Intend: 5 Steps

  • Develop, deliver and confirm a meaningful value proposition experience first:

The Law of Value Exchange states, “The source of all economic value in your company originates from a customer’s willingness to exchange their cash for what, in their perception, delivers greater economic, physical, emotional or political value in return.”

  • Assure that your value proposition targets a market with substantial momentum and potential:

The world’s best boat, sporting the flashiest logo and most clever tag line goes nowhere in a river that is devoid of water. And remember, a brand has different meanings to different markets. Focus your investment and energy developing a meaningful RPQL experience in a meaningful growth market.

  • Don’t muddle corporate and product branding:

Smaller companies with petite marketing budgets often try to create one brand for the whole firm. But they may be serving multiple market segments with different products delivering different value propositions. In such a situation, it might better to focus branding budgets on specific products, vis-à-vis branding the whole firm. For example, the GM (General Motors) brand has been badly damaged recently by a torrent of recalls, however one brand RPQL experience (Corvette) remains solid.

  • Understand what your firm means to your best customers:

I asked new and returning clients why they buy from QMP. I was surprised; it really wasn’t what I thought. When I repeatedly heard the same reply, I immediately changed the corporate logo to reflect that perceived value and experience. Here is the QMP logo.

qmp-logo-RGB-1200px

Yup. Our clients told us they engage with QMP because they gain invaluable insight because we challenge them to think.

  • Align your brand:

Alignment does not mean just marketing materials, fonts and messaging. It means your whole damned company. From employee recruiting, to training, to product design, values, culture and customer service. All components must be aligned to reinforce the customer RPQL experience – which is your brand. When you invest in that kind of brand discipline, your brand promise will be delivered.

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*PIMS stands for the Profit Impact of Market Strategy, a data base initiated by GE in the 1960’s to study the connection between strategy and profit. It is now maintained by the Strategic Planning Institute. It has tracked more than 500 key metrics of thousands of companies since the 60’s.

For more information on branding success contact Jerry Vieira at The QMP Group 503.318.2696 or Jerry@qmpassociates.com

Lean Marketing and Sales: The Art of Optimizing both Customer and Company Value

 

“Lean is the process of maximizing the value delivered to customers by eliminating any wasted activity or expense marketing or sales process 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.

 

Getting Started with Lean in Marketing and Sales:

iStock_000023705897XSmallThere are three foundational principles that must guide any application of lean principles to the marketing and sales function

First, the law of economic value is always at work. That law states: All economic value accruing to your firm has as its source, the customer’s perception that they will receive more value (economic, emotional or physical) from your product or service than it costs them (economically, emotionally or physically) to purchase, acquire, set up and use.

Second, avoidance of the application of lean concepts creates growing breaches in your business that competitors will exploit. If there is any place in your product or service offering, customer service process or sales approach that customers consciously or subconsciously perceive as not providing the highest value possible, that gap will be the place you are most vulnerable to competitive attack.

Third, when assessing the relative importance and value of deploying a specific lean initiative, use the first and second guiding principles above. Considering the deployment of lean principles in your product and service portfolio or your marketing and sales function only as an opportunity to reduce costs can result in customer backlash. Bank of America felt that backlash recently when they instituted debit card user fees and we all feel the frustration when we can’t reach a real person in customer service.

 

The Six Targets for Lean in Marketing and Sales:

Market Focus

Face the facts. Your product or service offering does not offer the same set of economic, emotional or physical values to all market segments equally. Lean means focusing on those market segments where the value-received by customers is the highest. If that situation exists, the law of economic value is satisfied and research shows that the following benefits accrue to your firm:

  • the ability to garner price premiums
  • faster market penetration
  • higher customer satisfaction
  • more peer-to-peer, word-of-mouth customer communication of that value proposition
  • higher interest in your product from channel partners
  • higher probability of achieving market share leadership in that segment
  • reduced marketing expense
  • improved sales win rate and faster time to close
  • reduced product design costs and a clearer product evolution path as a keener awareness of the customer needs in that specific market are revealed
  • greater returns from focused social media and website investments

Market focus is Lean in action.

 

Market Communications

The wisdom of lean and focused market communications is the toughest principle to convey to marketing and sales teams. The common fallacy is that, “more marketing expenditure is better than less”. Marketing and sales teams typically will fight tooth and nail to avoid reductions in this sacred arena. They believe that more marketing dollars across more expansive markets means more customers. Not so.

Research (Everett Rogers, “The Adoption of Innovations”) shows that communications of a new idea is best accomplished through opinion leaders in a target market. Peer-to-peer communications, accelerated by opinion leaders, is 13 times more effectively than mass communications. Focused marketing communications programs to reach those opinion leaders, with focused value propositions achieved through market-focused product design is as effective as can be achieved. Social media can help – as long as it is focused.

Focused marketing communications is Lean in action.

 

Channel to Market

Your business will begin to erode if your channel-to-market provides value only to you and not your customers. Marketers must be vigilant to assure their channel continues to deliver real value to customers and clients. Let’s take Amazon.com as an example.

Amazon.com is, at its most basic level, merely a channel-to-market. They do not write books or build any product. Even the manufacture of the Kindle is outsourced. Amazon’s growth was the result of tapping into an under-satisfied customer value (convenience) and leveraging an emerging technology (the Internet).

By building an on-line bookstore coupled with an efficient order fulfillment process, Amazon stole the customer segment of the book market motivated by convenience, not couches. Relevant value to that segment is: browsing at home, saving gasoline, saving time, the use of peer reviews and comments to facilitate decision-making, fast customer service, the opportunity to contribute reviews and comments, and avoidance of the “out-of-stock to be supplied by another store across town and we’ll call when when it’s in” situation. The introduction of “Whispernet” (the wireless purchase and instant delivery of e-books to the Kindle) further enhanced this basic value set. And taking this value proposition even one step further, Amazon has now added free, unlimited on-line storage of your complete media library (music, books, movies) in the cloud with the Kindle Fire®. Wow!

All this value provided by basically a channel-to-market. Amazon understood how to find untapped needs and use technology to meet them efficiently. This is Lean in action in the channel-to-market

 

Sales Process Discipline

An oft cited statistic claims that 30% to 50% of the opportunities in the average sales person’s pipeline won’t close because the customer makes a decision not to buy anything. The sales person has, in effect, wasted time and money pursuing something that was destined to never result in a sale. How can one really know if a specific opportunity will actually result in a purchase?

The answer has several parts.

First, if Lean principles are applied in the previous steps (strategy, channel and communications), there is a much higher probability that a purchase will occur, because the value proposition and its communication are more efficient, focused and aligned with customers that are likely to receive the greatest value from your product or service.

Second, if the firm has developed an ideal customer profile that describes that buyer type, it enables the sales team to quickly identify a good potential prospect and politely decline continuing involvement with a poor prospect.

Third, there is a simple set of 5 criteria that can improve a sales person’s ability to quickly qualify an opportunity.

  • intensity of the customer’s need or problem,
  • degree to which the product offering can meet that need,
  • degree of the economic, emotional or physical value the customer will receive by using the product or service,
  • customer perception of the relative competitive advantage of the product or service solution
  • the existence of a customer champion for the solution

These principles put Lean in action in the sales process.

 

Market Intelligence Feedback

Market intelligence is critical to success. Sound market strategy depends on current and valid market intelligence. That intelligence may comprise some or all: competitive intelligence, customer satisfaction, barriers the sales people keep running into, the health of the customers’ markets, usage idiosyncrasies and a host of other informational tidbits. The sales team must be at the forefront in gathering this data, because the sales team is company asset that is in the most frequent contact with the customer.

The most efficient way to gather market intelligence is through weekly or monthly sales reports. Contracting market research firms to gather market intelligence from the same customers the sales people talk to each month anyway, is admitting to un-Lean practices and indicative of other organizational or culture problems.

Here are some thoughts about making your Lean market intelligence gathering:

  • make a bullet-point market intelligence section a required part of your sales person’s weekly or monthly report
  • train your sales people how to question and observe – not just spew the benefits of your product
  • include providing market intelligence in the sales compensation plans and sales position descriptions
  • provide the ability to award spot bonuses for the most timely and important pieces of information that come your way
  • read the market intelligence reports; think about and acknowledge them by calling back the sales person who provided the information, thanking them and getting more information

Listen carefully when sales people talk about gaps in the customer’s perception of your product’s value delivered. The first comment is inevitably pricing-related. Pricing-related value gaps are more about market targeting, product design and the customer’s perception of value received than actually about pricing. Pricing is only a symptom of a bigger strategic problem.

 

Conclusion:

The application of Lean principles to marketing and sales is easy and inexpensive. A firm of any size and market can deploy Lean. Lean principles assure that customers get the best value they can – and in return, consistent with the law of economic value, your business optimizes its own economic return.

Click here to talk to QMP about Lean Marketing and Sales

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