How can you add value for your customers?
Post-Election 2013 – are you match-fit for the opportunities ahead?
"The key here is to understand that a value proposition is not merely a product or service; it includes the entire customer experience."
Heading into the election, the economy was by far the most important issue for voters.
In the New Year we described 2013 as a year for “Focus, Persistence and Discipline”. It has certainly lived up to those expectations. Even before the election was announced, Australian business leaders had expected weaker business conditions in 2013. Pre-election uncertainty feed a reluctance to commit to longer-term business plans and a lack of investment worsened an already stagnant environment.
The vote over the weekend to install the Liberal Party signals the end of an intense period of politicking that has been an unwelcome distraction. Much of the uncertainty has plagued decision making across industries. The election outcome should help remove much of this uncertainty and allow companies to focus on the year ahead with greater confidence.
The new government needs to urgently get on with business to lead Australia through a raft of challenges: structural change across industries, a weak domestic outlook, declining global competitiveness and a patchy global economy.
For business leaders, this lull has forced companies to re-focus: to review their business models, their markets, customers and costs. Now is the time to re-position for growth. We have adjusted to do less with less, now we must prepare to do more with less until sustained growth is certain, and ask two questions:
“How can we sell more of our current products and services to our current customers, with the same resources?”
“How can I grow my customer base without adding resources?”
One proven way to achieve these outcomes is to offer more value. Offering more value is seen in the following short video from John Fahey, CEO of National Geographic. John discusses the changing face of value and the need to understand customers more deeply than ever before.
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