Who is your most Valuable Customer? We interview Dick Lee to help you find out
Improvides Interviews Dick Lee PhD, CEO of Value Innovations, on what it takes to determine who your most valuable customer is:
In today’s interview, I have the pleasure of an audio conversation with Dick Lee PhD, who developed the Value Innovations Process (R), specifically designed to help teams determine innovation goals for their most important customers.
You can either listen to the interview in Youtube format above, or as a streaming MP3 file here:
During the interview, we discuss how most companies have incorrectly identified their most Valuable Customer, the people who they speak to about what innovations they should drive to improve satisfaction.
One thing you can do today is use the 3 Questions to help you figure out who your MVC actually is:
If there’s a problem or issue with your offering, who is responsible for taking the action required to rectify the situation?
Who stands to lose the most financially if there’s a problem or issue with your offering?
Who is the most likely to recognize the value provided by your offering?
This has already been proven successful at helping numerous companies refocus their innovation projects and requirements to address the needs of the right people. For example, Nautilus saw sales of its bike double after finding out who their MVCs were and prioritising their innovation goals towards them.
You can find out more about the extremely powerful Value Innovation Process, and how it can be applied to your company, with their recently launched Introductory Training courses on uDemy. And because Dick and I know each other, he has been generous enough to give all Improvides readers an exclusive 20% off code, using the links below:
Just remember to click on the big green “Take Course Now” button on the right to register once at udemy, otherwise the discount won’t register.
And remember to sign up for our Innovation Weekly Newsletter below, with just your name and email, to get a free copy of our eBook The Secrets of Ongoing Innovation Success, as well as tips on improving your innovations capability every week.