“Companies succeed by consistently delivering greater value to their
customers than their competitors.”
Lee Williams
Growing sales through customer value
Session 4 -– Functional Benefits
AGENDA
1. RECAP
2. FUNCTIONAL BENEFITS
3. VALUE & STAKEHOLDER ALIGNEMENT
12/09/2021
© JOWSA Consulting 2021
2
Recap – Sales Strategy
12/09/2021
© JOWSA Consulting 2021
3
NICHE
DIFFERENTIATION
COST
CUSTOMERS
COMPETITORS
CHANNELS
When considering your sales strategy
there are three key elements to consider,
1) who is going to do it, 2) who are you
going to target and how will you get to
them (segmentation and targeting) and 3)
how you will position yourself against your
competitors (positioning).
DO IT YOURSELF
RECRUIT
PARTNER
Recap – Understanding Benefits
12/09/2021
© JOWSA Consulting 2021
4
FEELINGS & VALUES
BELONGING & ASSOCIATION
BRAND VALUE
CORE BENEFITS
ENABLING BENEFITS
AUGMENTING BENEFITS
DIFFUSION OF INNOVATION & VALUE
Innovators
2.5%
Early Majority
34%
Late Majority
34%
Laggards
16%
Early Adopters
13.5%
Early market – Features & Benefits
Mainstream market – Benefits v Sacrifices
Emotion
Function
Cost
Skepticism
Risk
Minimum Viable Product (MVP)
Optimum Viable Product (OVP)
Adapted from Moore, S. (2014) Crossing the Chasm & Rogers, E.M. (2003) Diffusion of Innovations
THE CHASM
12/09/2021
© JOWSA Consulting 2021
5
Sacrifices
Benefits
Value Quotient
Value
Functional benefit + Emotional benefit
Monetary costs + Search & Time costs + Psychic costs
=
12/09/2021
© JOWSA Consulting 2021
6
Monetary cost to the customer
• Buyer Sophistication
• Consumer or company
• Professionalism
• Buying drivers
• Because of…
•
In order to…
• Competing Forces
• Competitors
• Supplier Power
• Buyer Power
• New Entrants
• Substitutes
• Total Cost of Ownership
• Price Paid
• Per unit or per employee
• Monthly or annual
• One time purchase
• Bundles
• Consumption Costs
• Credit Card Surcharges
• Warranty Costs
• Payment penalties/discounts
• Life time Cost - search, purchase,
ownership, use, consumption,
disposal
• Economic Value to the Customer
(EVC)
7
Dr Lee Williams
JOWSA Consulting Ltd
Woodgarth
Tallentire
Cockermouth
CA13 0NR
M: 07980 598746
E: lee@jowsa.com
www.jowsaconsulting.com