Decades of success, your company has stopped growing or didn’t meet the forecast. Did you figure out why? Most of the entrepreneurs said we are failed to change with time. It’s real. They have failed to change themselves with time. But why they failed after decades of success. What factors are responsible for this or what factors are absent in their business (products or services)? The answer is Customer Value Propositions(CVP). The customer value proposition is a thing that improves customer life quality through using the products or services, on the other way CVP is “after using your product how the customer feels & how they are benefited”.

Look Nokia, If I ask you why Nokia has failed & flown from the market? You may answer they didn’t change themselves when the other did. It’s a very common answer, everyone will be said the same. But the answer is “NO”. Nokia generally developed its products based on its innovations and promoted products with these innovative features. Nokia didn’t focus on how their customer wants. Is its innovative features were beneficial for the customer or not and it improves customer quality of life or not? In most cases, it was “NOT”. So, Nokia failed several times even failed after offering the most popular Android OS with their lucrative smartphones. This smartphone giant failed after a decade of success because they were not CVP-driven. The CVP-driven companies or products create value for the customer for a long period and they didn’t fail because they develop products based on customer’s benefits.

Figure out “Is your company CVP driven or not?”

1. How your product development team works: Might your product development team works for innovative products and successfully developed those. If your team works on preset objective how your customer will get benefited, then this team may be ok for CVP.
2. How your marketing team works: Is your marketing team work only for building the brand equity or work for the customers’ benefits. If your marketing team works for the customers’ benefits then brand equity will be automatically increased. Work for the customers’ benefits is a good sign of CVP.
3. What your loyal customer says: Ask your customer why they purchase your product. You will find the right causes of why they are loyal.
4. What your un-consumption customers say: Ask the competitors’ customers whose, why they are not using your products, what causes they avoid it? Why they use others’ products? You will find the exact causes which no one tell you before.
5. How your profit formulas are making: If your profit formula is making for money and building for equity. Then it will not sustain for a long time. If your profit formula is making for building equity through facilitating the customers, then it will sustain for a long time and it is the sign of a CVP-driven company.

Today many companies have very satisfactory growth, they have also a huge loyal customer. But they can’t assure their future growth. Because of their business model. The customer value proposition continuously creates value for the customer, which ensures future growth.

Make your company a truly CVP-driven company

Customer Value Proposition driven company ensures sustainable growth even in crisis moments like Covid-19 pandemic, you will sustain. Here these 4 guidelines help to drive on CVP ways.

1. Do routinely Field-visit: Field-visit or conversation with customers unfold the real cause that you want. Almost every company does the market survey, gets data, and makes the strategy. But your field visit purpose will be to find the cause and build the products and add new features to your product.
2. Connect your Product Development team & Marketing team with the end-stage customers: Product development team always works in the lab and develop products features or innovative products. So, they didn’t understand what can improve customer lives. They may be got instruction from the survey team but direct involvement can create better understandings. The marketing team has to do the same.
3. Find out what your competitors not offering yet, that your customer wants: Something remains missed during your competitors offering their products. Talk to the customer about how they solve their problem with that specific product and what additional facilities they want to fulfill their needs.
4. Measure how your products impact their(customer) lives: Measuring your product features impact on your customers’ lives will validate your taken decisions & build your confidence. It will help you to retune your strategy and develop customer-oriented products.

The customer value proposition is a major key factor for Sustainable Business Growth. It’s very hard to maintain and sometimes it contradicts your company’s profit formula. If you want to sustain continuous growth without disruption, fully concentrate on Customer Value Propositions.