Many years ago we moved away from running sales training and started conversations about how professional services firms can create value for their clients – below is the People At Their Best model we use to describe our client-centric, value-creation methodology.
There are 4 monetary markers that prove we were on the right track:
1. Greater share of wallet (yield)
2. Increased stickiness (loyalty)
3. Repeat purchase behaviour (sale frequency)
4. Word of mouth referrals (advocacy)
Many other methodologies talk about re-gigging products and services to make them more valuable – we believe this misses the point. Such models continue to be product-centric, claiming that value resides in the product. Such models are not client-centric and, fail to understand that today, value resides in the relationship with the client, in identifying latent needs and unlocking demand.
In the professional services sector, products and services are just a ticket to play and ought to be regarded as threshold domains, particularly in an increasingly automated and commodified world. Today, what matters is the customer experience. When everything can be copied and replicated, this is what we compete on.
Our methodology is about value creation, about creating new demand through meeting more and more of our clients’ needs. Our approach is not about increasing the value of current products and services (which are being automated, anyway) but about creating new markets through unlocking latent demand.
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