Leading B2B companies know and understand how to effectively sell the value of their products to customers. Yet selling multiple products or modules together to create complete solutions for the customer presents its own unique set of challenges. In return for giving you, the supplier, all of their business, customers expect a volume discount. But in fact, for many vendors, the ability to offer complete solutions to customers can be an important competitive differentiator. And instead of capturi
Q: Since evidence will be a big driver of value and trials are costly, do we see emergence of other types of evidence being accepted to demonstrate value?
A: Part of this goes to, what is the product or solution, who is ultimately paying, and what are you asking for in terms of a price premium? Obviously there's a connection between your value proposition, the price that you are trying to capture, and the amount of evidence you want to invest in to prove that. ACO and other models will evolve, a
In last Thursday's popular webinar, "Quantifying and Capturing Value In the Age of Healthcare Reform", Chris Provines joined us to discuss how the Accountable Care Act (ACA) will impact all healthcare suppliers, as well as share best practices for growing your business in this changing healthcare landscape. Below we recap the first half of the interactive Q&A session that concluded the live webinar. Part two will be posted later this week.
Q: What are the top 1-2 things that manufacturers
Last week Harry Macdivitt of Axia Value Solutions joined us to discuss how to capture the value of your products and services. In part one of the interactive Q&A he shares his thoughts on avoiding discounting and training salespeople how to sell value. Below he answers the audience's questions on using data to quantify value, how to quantify buyer emotions, and selling to government.
Q: What advice do you have about using data to quantify customer impact? Do you need to have the precisely ac
In last week’s webinar “Incorporating Value in Your Stage Gate Process”, Dr. John Hogan of Value Management Advisors discussed his value-based framework for improving product development processes. Of course, no process can guarantee success, but the problem is stark: as seen in the chart below, based on evidence from PDMA’s new benchmark study, 76% of all new product launches fail to meet their revenue targets.
In our February 2013 webinar, "Incorporating Value in Your Stage Gate Process," Dr. John Hogan joined us to identify common value leaks, and using real customer examples, showed how to seal them by incorporating "value gates" into your development process. Click here watch the recording.
Q: Why are folks now more interested in thinking about value earlier in the product development process than before?
A: There are two fundamental changes in the marketplace going on. At the macro-level, coming
In our January 2013 webinar, "Maximizing ROI In Product Development", presented by Dr. Stephan Liozu, he shared his framework of integrating ROI in new product development (NPD) processes. Below is part 1 of a 2-part extended Q&A session with webinar participants. Click here to watch the recording and get a copy of the presentation slides. Click here to read Part 2 of the Q&A.
Q: What is the key stumbling block to maximizing ROI in new product development?
A: The biggest one that I've s
Assessing customer value is not an easy proposition. Difficulties in assessing customer value remain the number one barrier to successful value modeling and is often cited as the most difficult step of the process. However, there are customer research methods and techniques that exist and can help you in this difficult process. Each method has its strengths and limitations. In 1993, a group of researchers led by Anderson and Jain conducted a study to identify the use and familiarity of these met
In Part 2 of a two-part post, we address several great questions from the webinar attendees based on the challenges they face when quantifying value. Click here for Part 1.
Q: Other than Quality and Expertise, what are other typical intangible values?
A: In our experience, the most frequently mentioned "intangibles" that companies differentiate themselves are brand or industry reputation, expertise, and quality. Other intangible differentiators include innovation, diversity, global-reach, custo
In this week's webinar "Quantifying Value: Working Through the Math", Ed Arnold and Roberto Rivera shared their hands-on customer experience in dealing with common value quantification issues. Two issues they focused on this time were: 1) how to quantify so-called "intangibles" like brand-image; and 2) how to quantify the "value-add" of a bundled offer (versus giving a discount). We plan to address more of these value quantification challenges in future webinars because of the high turnout and g