“Companies succeed by consistently delivering greater value to their
customers than their competitors.”
Lee Williams
Growing sales through customer value
Session 3 -– Functional Benefits
AGENDA
1. RECAP
2. FUNCTIONAL BENEFITS
3. VALUE & STAKEHOLDER ALIGNEMENT
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2
SALES OPTIONS
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3
DIY
RECRUIT
PARTNER
SALES STRATEGY
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4
CUSTOMERS
COMPETITORS
CHANNELS
COMPETITIVE STRATEGY
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5
NICHE
DIFFERENTIATION
COST
EMOTIONAL BENEFITS
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6
FEELINGS & VALUES
BELONGING & ASSOCIATION
BRAND VALUE
START WITH WHY
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Source: https://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action?language=en
DIFFUSION OF INNOVATION & VALUE
Innovators
2.5%
Early Majority
34%
Late Majority
34%
Laggards
16%
Early Adopters
13.5%
Early market – Features & Benefits
Mainstream market – Benefits v Sacrifices
Emotion
Function
Cost
Skepticism
Risk
Minimum Viable Product (MVP)
Optimum Viable Product (OVP)
Adapted from Moore, S. (2014) Crossing the Chasm & Rogers, E.M. (2003) Diffusion of Innovations
THE CHASM
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Sacrifices
Benefits
Value Quotient
Value
Functional benefit + Emotional benefit
Monetary costs + Search & Time costs + Psychic costs
=
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Value can be…
• “low price”.
• For some customers the lowest price is the best value.
• “getting what I want from a product or service”.
• These customers define value in terms of the benefits they receive, rather
than the price they pay.
• “the quality I get for the price I pay”.
• These customers regard value as a trade off between the price they pay
and the quality they experience
• “all I get for all I sacrifice”.
• Value is found in the relationship between every benefit customers
experience in purchase, ownership, use, consumption and disposal of a
product or service, and the various sacrifices they make to enjoy those