“No constituent is more important to engage with than your customer,” said Pigues, a former chairman of the BMA. “I am going to challenge you to think about customer engagement in ways many of you may not have thought about customer engagement before. The success of your company really depends on your ability to do that well, now and in the future.”
Pigues said engaging with customers and winning in b-to-b marketing is about two things: “Helping your customers make more money doing business with you and how much of that value you capture.” To measure this, he presented a new metric, which he calls the “differential value proposition,” or DVP.
“This encapsulates how much money your customers make doing business with you and connects your value proposition with your customer's income statement,” he said.
Marketers need to focus much more on tying their marketing efforts to the financial success of their customers, he said. One tool to use is “The List”—a list of the top five things companies do to make their customers more money, he said.
“If you don't have a systematic approach, there is no way you will transform your organization to engage with customers,” Pigues said.
More information about the DVP and measuring engagement with customers is available at www.winningwithcustomers.com.