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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