Total Customer Value Management (Total CVM)
No Customers? No loyal Customers?
Imagine your business without Customers and without loyal Customers!
The first makes business an impossibility. The other makes the business difficult.
Yet most companies do not focus on their most important assets: Customers. And those that do, simply do not know all that they can do for the Customer. Total Customer Value Management helps them learn and understand what else they can do for the Customer and how to do it.
Practicing Total Customer Value Management makes your Customers happy and loyal. Total CVM is a platform for your success by aligning every business function to the Customer. It also builds a bottom up Customer focus, with Customer delight being driven by front line people, supported by a Customer driven management.
Total CVM also tells you what drives Customers to buy from you and what makes them go to competitors, and what is important to them in the creation of value.
Total CVM is proven to increase market share, wallet share, profitability, and yes, Share Holder Value!
Great benefits for you from Total CVM (Total Customer Value Management)
- Customers reward you with loyalty, increased business and thus market share, enhanced profitability
- Your business becomes more efficient because
- Employees become more proactive
- There is better teamwork and communications
- You understand customers better and make fewer mistakes
- Your market share increases
- Causes Customers to be happier and more loyal
- Increases market share and wallet share and your market image
- Makes Customers want to do more business with you
- Improves profitability
- Builds share holder value
- Makes you understand what makes Customers buy from you and from your competitors, and what are the important actions to create value for them
- Get better price perception in the chain. Negates price dissatisfaction. Make price less of a selling issue.
- Makes Customers more forgiving
- Achieve fewer chain Customer complaints, leading to reduced costs and higher efficiency
- Get Chain Customers and your people to interact more with each other, get increased feedback and build relationship
- Better idea of segmentation and future strategy
- Improves brand image and trust
- Measure Customer Assets. Treat Customers as assets
- Enable new product introductions and initiative
The steps to Total CVM (Total Customer Value Management) are:
Aligning every function to the customer; discussions with key officers and assigning customer roles
Incorporating Customer Circles and propagating them.These will align the front line people and make them customer focused
Assessing unnecessary and irrelevant tasks from a customer viewpoint
Training and certification of front line people
Listening to Voice of Employee, Voice of Customer, and Voice of Competitor. Voice of Employee will be captured through the Customer Circles and Employee Value Add, and the Voice of Customer and Voice of Competitor will be captured by Customer Value Added (CVA).
More things you can do for the customers and not been doing (See CEO score card)