I am perplexed as to why the idea of “Customer Value” is not a more defined science in business. If you think it is well defined, then Google it…you won’t find much. No ads, no purchased space, and little content in relation to the importance of the concept. Much of what you will see has to do with Lifetime Customer Value, or the value of a customer to a supplier over a lifetime; a completely different concept than what the conversation we should be having on Customer Value.
So then why when we use the term "Customer Value" is everyone so confused. Is it because Customer Value is simply an outcome of Innovation? We Innovate and therefore create Customer Value. Or do we understand Customer Value and Innovate to achieve? MIT says we should understand how to create new value for customers before innovating “things”. So how is this done? What is the process for doing so? Where is the conversation?
Instead of talking about Customer Value everyone talks about innovation. Innovation is defined at nauseam. You can’t swing a bat without hitting someone ready to tell you how to innovate. They have processes and software…multicolored pens and mood music. Really! I do believe that many of these people are really helping to generate ideas, to build more things…more inside out things! They’re building an even better engine to generate ideas faster, and to keep everyone busy building things, but what about Customer Value?
I tend to be slow, but please show me the same zeal for understanding Customer Value. Are you adding Customer Value? What is it? Are those things everyone is building going to add customer value? What would your customer say (WWYCS)????