What's in it for them? When value delivered is not value perceived

Tom Zender

Guest blogger

Email

What's In it For Them? You have delivered great value to your customers and exceeded their expectations. Surprisingly, they might not really know that. So, it is critical that you tell customers frequently about all the value you are delivering. This builds better business.

What is value, anyway?

The word "value" is spoken often, but few understand it. Value is in the mind's eye of the buyer and is a composite of many factors.

The common components of good value include: a pleasant atmosphere in which to conduct business, friendly transactions, trust and respect for buyer and seller, a good selection of products and services, convenience - all part of overall quality.

Price? Gucci said it well, "Quality will be remembered long after price has been forgotten."

Value on notice

You received the orders, and you delivered with excellent value. Your customers paid your invoices, and you don't hear too much from them. You continue to do business together, month after month. All seems well.

Then, a shift hits the fan. A major customer has gone quiet, their complaints begin to appear, and their order rate begins to soften. What happened?

"Nothing" happened

You likely are not informing customer management about the great value you are delivering. Yes, your invoice states what you provided, but only quantity and price - just part of overall value. And, perhaps just the customer's accounting department sees your invoice.

So, there may be little real understanding by your customers' management of your full value delivered. Worse, for lack of any positive perception, they could have a negative perception. What to do?

Tom Zender is a Phoenix-based professional business mentor. He held leadership roles at General Electric and Honeywell. Zender also is the author of two books about business ethics. He mentors students at Arizona State University’s SkySong business incubator, and is a member of Eliances, where entrepreneurs connect with business leaders. Reach him at 949-910-5075, tomzender@me.com or www.tomzendermentor.com