The strategy canvas can provide a powerful strategic tool to explore customer value trade-off decisions. Armed with robust customer insights, a creative challenger mentality and the right strategic agency partner, companies can explore unique combinations of value.
Customer centricity requires organisations to be both strategically and tactically agile in responding to changing customer needs. While this can sometimes run up against the resistance from internal structures and processes it often acts as a vital catalyst for fresh externally driven innovation.
Although close examination of each market and customer segment reveals different bundles of drivers for customer value there are a number of common themes. Here we outline some key principles that appear to deliver exceptional levels of customer loyalty while enhancing brand equity.
Companies are recognising the growing importance of constantly reassessing their knowledge as to what constitutes superior customer value. Only by creating strategies that consistently deliver and capture that value can growth be maximised. However selling the concept internally is not always plain sailing when resources are scarce and budget holders have yet to see the results of customer value initiatives translate into profit growth. We share some of the challenges.
Accelerating cultural and demographic change is rapidly changing the shape of demand and expectation within health. With customer appetite for empowerment and informed choice now insatiable, how should brand owners respond?
Senior management must be able to confidently map the areas in which its brands are uniquely placed to gain a competitive advantage. Developing sustainable profitable strategies requires the blending of rigour with inspiration and smart external partnering.
Consumers look to brands that demonstrate a real sense of purpose. By consistently delivering value, remaining authentic, and communicating an inspiring vision, brands will be rewarded with consumer loyalty and respect. In hyper-competitive markets this can be a monumental challenge. What are the strategic options for brand owners?
We are seeing health and wellness re-imagined by newly empowered consumers leaving in its wake a new democracy between customer, business, brand and healthcare professional. In this new dynamic, stakeholder and customer expectations expect companies and brands operate with a more holistic and transparent agenda. How can brand owners best meet these new demands on brands?
Baby Boomers are reinventing healthcare as they go. They are refusing to play a passive role in the management of their health and wellness, want to maximise their quality of life and look to brands as partners for empowerment. By helping Baby Boomers re-frame their healthcare future companies can build new and highly profitable relationships. The question is how?