Saturday, 7 July 2012

Investment Stream Mapping: Multiple Customers

In the last piece I introduced the Value Investment Mapping Process.  It explained the concept that the Investment that a customer makes in you when they purchase is only partially represented by the money that they pay to buy the features of your product.

Let’s spend a little time talking about customers. Those with a marketing background will already know that the market is made up of a number of different customer types, or segments.  This varies greatly by product and industries but customer types that you may need to consider are:
o   Domestic
o   Retail
o   Installers
o   Original Equipment Manufacturers (OEM)
o   Non OEM service companies
o   Early adopters
o   Corporate buyers
o   Children
o   Their Parents
o   Etc.

For each customer you should understand their importance to your business and what is the investment they make in your offering.

Think through who your customers are as well from the point the product leaves you and reaches your end user:

o   Wholesaler
o   Distributor
o   Retail premises
o   Installers/Contractors
o   Buyer
o   User

If you have a complex route to market, each step investing in you will require you to recognise that investment. The wholesaler will want your product to be easy to move around in bulk and break down into smaller units, while the end user will have no interest in that. However you need to bring the wholesaler with you if you want to reach the user.

So, before you start mapping, understand who all of your customers are, what they will invest in you, and what is important.

Next we will think about starting the map, back to front.

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