Customer Value Journey

Making the Journey Easy and Meaningful Creates Value

I gave a two day workshop on Value Creation Mapping in Malaysia in April 2014. I found that the concept of value was interpreted differently by different participants. Very few said it meant whether what you got was worth what you paid and versus competitive offers. Most confused value for either benefits or value for money or price. Value is actually a juxtaposition of benefits and price.

I also explained that while we think of the Customer Journey as one journey, it actually has to be viewed as three journeys by the company to be able to make the Customer’s journey more comfortable, and an enriching experience.

The first part of his journey and the experience is in searching for a product, shopping, buying, taking delivery, or having it delivered, the delivery and installation process (including self-installation), actual use experience, complaint experience, experience of getting something unusual done, getting a call back from the company, billing and payment, maintenance and service etc.

The second is the journey that the company makes to the customer, when contacting him for giving information, for getting the customer to buy, for order information, service information, for collecting bills etc. Is this journey that the company makes to the customer a comfortable journey or experience for the customer? Is it comfortable for the company? Does the company have enough information while making a call? How often do you get a call from a service guy asking for your address, and the model of your TV? Or when you get repeat calls for buying. Or after you have bought, someone calls you and says when will you buy?

Companies do not view this as a part of the customer journey, and often irritate the hell out of the customer and even aggravate the customer.

Lastly, there is the journey the company people make within the company for solving the problems of the customer and to make the customer journey comfortable. How often do you hear, as a customer from the company, this is not my department, you will have to call so and so. The company is palming its journey off onto the customer and making the customer embark on a fresh journey.

I just got a call from Citibank cards asking for my date of birth to check a statement (why?). I asked the girl to contact my branch manager whom I had sent all the information by email. She could not or would not. Could I call him to send her the information?

Companies delegate their work onto the customer and make him take unnecessary journeys, because the convenience of the company (or its executive) is more important than the convenience of the customer.

All these are Value Destructing. It is important that the companies use these journeys to Create Value for the customer, but this is not taught, this is not part of the culture. Too bad, Mr Customer!

The lessons:

The journey itself cannot be separated from the culture of the company. Are we inwardly focused or do we want to take in the needs of the customer and reduce his pain in the journey and increase the Value Creation, his sense of wellbeing, happiness and even delight? Is that your culture? If yes, why do these journeys happen in a way to cause some grief to the customer?

Creating Value in the Journey should be the cornerstone of the culture and the people.

To do this, a clear understanding of what Customer Value is and how to measure it through the Customer Value Added metric

(CVA) =       Value added by your company to your customers

                    Value added by your competitors to its customers

Last but not least, build a Customer Strategy, and break silos and build a Circle of Promises, so that the customer gets a seamless, fulfilling experience during the journey, so that he becomes loyal.

Your comments are welcome!

Call at (+91) 9971288580

 

Gautam Mahajan, President-Customer Value Foundation
M: +91 9810060368
Tel: 11-26831226, Fax: 11-26929055
email: mahajan@Customervaluefoundation.com
website: http://www.Customervaluefoundation.com

Customer Value foundation (CVF) helps companies to Create Value and profit by Creating Value for the Customers, employee and for each person working with the companies.

Total Customer Value Management (Total CVM) transform the entire company to focus on Creating Value for the Customer by aligning each person’s role in Creating Customer Value and getting shareholder wealth and Value.

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