Can You Make Your Value Proposition More Valuable?

Can You Make Your Value Proposition More Valuable?
SHARE
THIS



B2B executives do not have a good understanding of how they help their customers make money, according to this new study from The Spitfire Group, who spoke to Australian B2B vendors to see if they keep tabs on their customers post sale.

The survey, conducted by The Spitfire Group, asked whether B2B companies measure and track how much money their customers make as a result of doing business with those companies.

Just 26 per cent of respondents agreed that they measure and track this metric.

An executive primer titled “Own The Metric, Own The Customer” expands on the findings and suggests a new approach to measuring value propositions.

Director of The Spitfire Group, Stephen Ball, said he wasn’t surprised by the result: “We know from informal discussions that many B2B vendors don’t measure how much money customers make as a result of using those vendors’ solutions.

“But we were surprised to learn that while respondents don’t measure the impact their solutions have on their customers’ business outcomes, they still believe they will make their clients more money in the future. Around 63 per cent of respondents felt they had a good understanding of how they would do this,” said Ball.

So while companies don’t track how much money they make for their customers today, a significant number believe they know how they will make their customers more money in the future. “This is incongruous,” said Ball.

“It suggests executives are relying on opinion rather than translating their value propositions in to financial metrics their clients understand.”

Other key findings include:

  • 75 per cent of respondents say their sales and marketing teams can consistently describe their value propositions to customers, yet 42 per cent do not believe their value proposition is well understood by customers.
  • 74 per cent of senior executives believe their companies proactively develop solutions to meet their customers’ emerging needs. Around 36 per cent of marketing executives disagree with this assertion.
  • 86 per cent of respondents believe a stronger value proposition would help to win more business, but 41 per cent of sales executives do not regularly engage with customers to understand what provides value for them.

The online survey was conducted in January 2016 with almost 200 responses from senior executives, sales, marketing and related roles.

Please login with linkedin to comment

the spitfire group value proposition

Latest News

Is B2B Marketing Missing Its Emotional Touch?
  • Media

Is B2B Marketing Missing Its Emotional Touch?

B2B marketers could learn a thing or two from their B2C colleagues, argues WP Engine VP APAC sales Mark Randall in this guest post. It surprises me how many B2B organisations are not quite hitting the mark when it comes to reaching their audience. When talking directly to businesses, many brands are missing an opportunity […]

Opinion

by B&T Magazine

B&T Magazine
Burger King Trials Reusable Packaging
  • Media

Burger King Trials Reusable Packaging

Here's a top initiative from Burger King that does kinda sound like a slightly tedious Craig Reucassel documentary.

by B&T Magazine

B&T Magazine
Smarter Use Of Art & Science Stretch Auto Budgets Further
  • Media

Smarter Use Of Art & Science Stretch Auto Budgets Further

The majority of adverts uploaded to Facebook aren’t created for Facebook as its priority. This is causing huge inefficiencies and poor performance for brands, many of whom are facing up to shrinking budgets. Tom Phillips (main photo) managing director at Connecting Plots shares lessons from 12 campaigns they optimised for auto brands… It’s no secret […]

Opinion

by B&T Magazine

B&T Magazine
Young Guns Take The Lead With The First PRIA University Mentoring Program In NSW
  • Media

Young Guns Take The Lead With The First PRIA University Mentoring Program In NSW

On Wednesday, 21 October 2020, the PR industry was bolstered by the launch of the Public Relations Institute of Australia’s (PRIA) first University Mentoring Program in New South Wales, adapting the traditional face-to-face program to a virtual format for the first time. In collaboration with the University of Technology Sydney (UTS), the PRIA NSW Young […]

JCDecaux Teams Up With MyPayNow To Serve Real-Time Data
  • Media

JCDecaux Teams Up With MyPayNow To Serve Real-Time Data

JCDecaux has developed a dynamic digital campaign with live timetable data where commuters can access their money from MyPayNow while waiting for the bus. In an exclusive nationwide Out-Of-Home campaign, JCDecaux’s SMARTFRAME digital assets are broadcasting bus arrival times, letting commuters know how far away their next bus is – and just how easy it […]

Rokt Secures $US80M Series D Investment Round
  • Technology

Rokt Secures $US80M Series D Investment Round

Rokt has today announced an investment of US$80M. The capital will help accelerate research & development and support the expansion of its client base into new verticals and geographies as Rokt continues to make e-commerce smarter, faster, and better. The funding round was led by Rokt’s largest institutional shareholder TDM Growth Partners , and supported […]

Nature Invests In New Team Members And Innovation
  • Marketing

Nature Invests In New Team Members And Innovation

Leading strategic insights consultancy Nature today announced it has hired several key new team members and restructured senior roles to increase its focus on innovation, including new technology and data sources.

PayPal And Buy From The Bush Launch New Marketplace
  • Media

PayPal And Buy From The Bush Launch New Marketplace

PayPal Australia and Buy From The Bush have joined forces to launch a new online marketplace to showcase rural Australian small businesses in time for Christmas. The expanded partnership aims to build stronger connections between bush businesses and Australians in cities and suburbs across the country. The new Buy From The Bush Marketplace is an […]

Wednesday TV Wrap: Gruen Takes A 200K Hit
  • Media

Wednesday TV Wrap: Gruen Takes A 200K Hit

Gruen plummets 200,000 viewers in just one week. However, that's not to say Highway Patrol went up a similar amount.

by B&T Magazine

B&T Magazine
Philippe Krakowsky Named New IPG CEO
  • Advertising
  • Media

Philippe Krakowsky Named New IPG CEO

Philippe "Crackers" Krakowsky named new IPG global CEO. However, says he only uses Crackers on less formal occasions.