DVP benefits your organization and your customers.
How does your company make money with DVP?
Business is not philanthropy, but about making customers more money and getting rewarded fairly. What is a fair reward? Here is the typical order:
- Increase/Retain Share. This includes rewards such as winning new deals or increases to customer share-of-wallet. This typically occurs first because it is easiest/cheapest reward customers can provide to your organization for helping them.
- Eliminate Waste. This typically includes investing only in initiatives that customers value and are willing to pay for. In the near term, this reduces cost, but also has the added bonus of the ROI on the investments you would not have made in the first place.
- Win New Customers. When you get good at understanding your DVP, you become a more effective sales and marketing organization. You know what makes you different and the profile of the customer that will pay you for it. You also know what you need to invest in to penetrate new types of customers or markets. This pays off in the ability to target and close the right prospects/markets.
- Value Pricing. While DVP is effective early in the process to maintain margins, increasing your price relative to competition due to the value you create is something that takes time, documentation, and communication. DVP enables this type of pricing strategy, but don’t expect to be able to raise your price immediately after a customer tells you the value of a specific opportunity.
DVP is designed to get immediate results for organizations and bring customers into the conversation in new and interesting ways.
Other Benefits
DVP was designed to work with Customers and a company's Sales Organization… typically the most skeptical when it comes to new things. Starting with the Customer Experience… here is why DVP works:
- Customers like it. DVP creates a new customer conversation. Rather than being sold to or negotiating on the latest deal, DVP allows customers to be heard on a subject that really matters to them…their bottom line.
- Provides Sales a voice. A good Sales Organization knows what its customers want, but has trouble building a case to invest. A good company has employees that want to help customers, but has trouble understanding and focusing on how to help create customer value. DVP provides Sales with the structure and voice to inform the organization on how they are doing with customers and the best path to improve.
- New Customer Insights. The focus of DVP is to understand how to help customers make more money… not just a measure of satisfaction. This fundamental difference generates new customer insights that are strategic and economic in nature… instead of just identifying a soft measure of customer happiness…
- Detailed, accessible dataset. A significant percentage of employees at a B2B company do not interface with customers regularly but are counted on to ensure positive outcomes: increase revenue, reduction in support calls, higher retention rates, etc. Emails, surveys, and meetings are not an effective or sustainable way to keep the broader organization connected to customers…the DVP Dataset is detailed and accessible enough to do just that.
- Creates accountability to execute. Nobody wins if an organization is all talk. DVP creates visibility to the actions taken as a result of customer feedback to hold a company accountable to follow-up with its customers and say "Here's what you said, here's what we did about it, how did that work, and what should we do next?" in a very detailed and personal fashion.