Your customers no longer recognize the value you offer.

You can no longer convince them of the relevance of your offer. Prices are perceived as too high, and your revenues are declining. This is a clear sign that your strategy needs to be reviewed.

Here are 3 actions you can take to get back on the growth path:

1. Identify the Desired Value

Map the customer value criteria by conducting interviews and exploring how jobs, pains, and gains have evolved.

At the same time, evaluate how your competitors' offers position themselves against these same value criteria.

Identify potential areas of differentiation and how unmet needs can be addressed.

2. Explore the Opportunities of "Near" Customers

During your interviews, be sure to also include non-consumers of your offer. Explore the reasons why they are not interested in the available solutions.

This exploration opens the door to capturing new demand.

If this demand is significant, ask yourself how it's possible to create value for this segment of new consumers by adding or modifying the current offer.

3. Adjust Your Offer and Business Model

First, determine the potential financial impact of these adjustments. Evaluate how adding and removing features from your offer could maximize value while creating differentiation.

Evaluate the impact of these adjustments on your business model, so that you can achieve consistent positioning. Don't forget to evaluate how you can make these choices unique and difficult for the competition to copy.

This adjustment to your business model can create or improve your competitive advantage.

Remember that the value equation begins with a fine understanding of what is important to your customer (or near customer). Jobs, pains, and gains must be mastered and continually updated.

You can then maintain the relevance of your strategy choices and avoid seeing your profitability come under pressure.

Have a good week,

Eric L'Heureux