Summary
Our technology distribution client is an industry leader; well-respected for its skill and capacity to identify and obtain for its customers the appropriate technology and equipment solutions to meet both their business needs and help to extend the life of their existing devices; while tenaciously maximizing the available budget.
Yet, our client’s leadership team was concerned that they lacked true visibility to the rationale behind why business was both won and lost, and questioned how, and if, the emerging “self-serve economy” mindset might influence their B2B buyers and ultimately impact their bottom line.
As a result, their goal was to gain clarity and a more thorough understanding of their competitive advantage; where vulnerabilities could cause business risk; and, which prospective investments might hold the most robust growth potential.
Together, we discovered that while their timely service, good communication and current product portfolio were notable differentiators, there were also potential growth opportunities to be explored in the areas of logistics and an expanded product offering.
Deploying Customer Value Xcelerator Scan™ (CVX Scan™)
For our client, the first step in the process of creating a framework for strategic growth was to gain internal alignment on their hypotheses regarding the state of their customer relationships and perceived value proposition. From there, we identified the competitive alternatives that
could erode customer loyalty and threaten to reduce their share of the customer’s wallet.
Exploring Customer Perceptions
Next, we sought customer input to better understand and gauge the internal assumptions. Together we met with key customer spokespersons who had first-hand experience with our client’s intended value proposition. During this facilitated customer discovery exercise, our client gathered significant understanding on additional points of differential customer value and became aware of other chances to improve the customer experience and cultivate a more significant partnership.
ReStart Growth
Luminas is ready to help your organization prepare to restart growth. Take the first step in the process by pinpointing areas of key business priority and your team’s readiness to move forward. Learn more.
Observations & Considerations
CVX Scan enables leaders to quickly examine their assumptions on the value their company currently delivers to key accounts and notes potential prospects for future growth and agility.
In just weeks, a summary is generated — informed by customer experience and feedback —helping to clarify and empower the path to growth, including:
- What to continue – Existing products, services and capabilities that will maintain differential customer value.
- What to adjust – Existing products, services and capabilities that could erode customer value.
- What to add – New products, services and capabilities that will deliver added differential customer value.
In processing the information gathered during the CVX Scan, our client noted that their personalized service and unique ability to locate and deliver hard-to-source products could be truly differential, and expansion of these capabilities is likely to present a chance for additional profitability. Moreover, predictable order logistics offers the possibility of producing greater customer confidence and new sales opportunities.
“Luminas has had a definite impact on the way our sales team thinks about how to sell value. We wouldn’t be where we are today if we hadn’t gone through the process with them and gained such meaningful insights.”
“The whole team was engaged in the work with Luminas, it was impressive. As a result, we discovered areas where we can grow, become more nimble and think strategically about our business. We are now better prepared to partner with our customers and manage through big changes.
“Our customers were very appreciative that we took the time to ask the right questions about what is important to their business. Luminas helped us to create a more customer centric organization and to focus on what they value.”
“We saw the Luminas team as our partners, they were humble and cared about our business. Our customers found immense value in having conversations with us; the process showed our customers that we were interested in their feedback and wanted to hear their insights.”