What’s your ability to create a new value norm for your ideal customers?
It was the leading question we focused on in our CEO Mastermind yesterday.
Just a 1-minute reflection made most participants realize there’s work to do. The average score was a meager 6…
Here’s the thing
If we’re unable to create a new value norm for our ideal customers – the only option they have is to devalue everyone and go for the cheapest option – if they buy something at all…
For a customer to give up on something involves a lot more than just ‘buying’ your solution. Think about their risk. Their time investment to get it up and running. The internal change that needs to happen, and so on.
So, what’s the problem with this? Some things that came out clear yesterday: “A lot of objections,” “The risk of being kicked-out,” “Sloooow sales cycles,” and the list goes on.
It makes everything more challenging and costly for you: Creating enough quality demand. Creating enough conversion. Creating ambassadors after the sale. Etcetera.
What’s at stake? Top line challenges. Margin challenges. Cashflow challenges.
What’s the urgency? As always, its the race against time and money, i.e. your runway. But think about the broader picture: Being ruled by others instead of setting the rules yourself.
What are ways to get to a perfect 10 score?
- Get even clearer on what defines those customers who are prepared to pay a premium for your solution and why.
- Take position – claim your spot around the two things your ideal customers value and desire most.
- Sharpen your product strategy – Stop trying to fix all gaps for everyone; start creating peaks that matter most for your ICP.
The question to reflect upon today:
What’s holding you back from scoring a 9 or a 10 to be the new value norm in the market? What’s one thing you could initiate to close the gap?
Be Remarkable – become the norm