Understanding how customers define value
Clarifying core value proposition:If clients had to choose just one method for retaining customers, we would suggest strengthening the core value proposition. Otherwise, barriers to leaving are low, making managing customer relationships very much like “walking on eggshells.”
Most companies know their value proposition entails something more fundamental than a series of service attributes or product features. However, they do not know how to get at these more fundamental units of value, often rooted in experience, and uniquely defined in the mind of the customer.
The Epley difference:
Epley studies focus on first understanding a company’s core value proposition, and then discovering ways to strengthen it. We interview key groups of customers, e.g., new, established, recently lost and/or customers of competitors. The discussion is directed to:
- Why customers buy—what value do they see in the offering and the company that supports it?
- Why customers stay—what value do they see in the company’s products and services, or more broadly, in a continuing relationship?
- Why customers prefer working with certain companies—what value differentiates you from your competitors?
