Dare to Compare
Whitepaper summary:
Have you ever wondered how your business stacks up to the competition? The truth is, it would be worrisome if you haven’t asked yourself that question recently. In our previous newsletters we have talked about Relative Value – your value versus the competitor’s value. Then we introduced the concept of Close Rate, as a measure of how well your value competes versus competition for a sale. For a quick recap, the value you offer and the value your competitors offer is a function of the Benefits each offers and their Total Cost. Close Rate is a measure of your relative value versus competitive offerings. However, Value is perceived. You may think you are offering the customer value, but the customer may view things differently. It is important to assess not only the value (DESIGNED VALUE) you believe you provide, but also what the customer views as value (ACTUAL VALUE).