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Top Takeaways:

Anything can be a subscription. Whether you are selling razor blades, pens, or a streaming service, the goal is to get the customers to say that they are getting enough value for your products to continue doing business with you. A subscription model solidifies the relationship between the business and the customer but it also requires a focus on customer experience. How do companies ensure that their customers continuously get value over time so they don’t leave you for your competitors? What are the outcomes that your customers are trying to achieve? Most of the time businesses focus on operational efficiency, revenue, and profits. These are all great things. But, the problem is that these are not the criteria that the customer is using to define success. Companies need to understand that they are not the center of the customer’s world. We need to understand the full journey. This week on Amazing Business Radio, I interview Dan Bacaulski, founder and principal consultant for Product Tranquility, where he focuses on helping high-volume B2B SaaS CEOs define pricing and packaging for new products. Dan takes us through how businesses can focus on the outcomes that the customer is trying to achieve and how they define success. Learn how to put the customer first, provide value, and define success from the lens of those you serve – the customers.

Quotes:

“We are not the center of our customer’s life. We need to understand the full journey. We need to ask, “What is our customer’s day to day like?” and “What are they trying to accomplish?” “Companies get very enamored with the technology that they built and lose focus on the value that customers are getting out of it.” “To be successful, businesses need to get a clear view of the value that they are providing based not only the metrics they use to define success, but also the metrics the customers are using to define success. It’s the customer’s definition of success that counts.”

About:

Dan Balcauski is the founder and principal consultant for Product Tranquility, where he focuses on helping high-volume B2B SaaS CEOs define pricing and packaging for new products. He is a TopTal certified Top 3% Product Management Professional and also helps to teach Kellogg Executive Education course on Product Strategy. Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and your host of Amazing Business Radio. This episode of Amazing Business Radio with Shep Hyken answers the following questions … and more:
  1. What is a subscription model?
  2. Can all products become a subscription model?
  3. How do you measure customer success?
  4. What’s the difference between customer service and customer success?
  5. How do customers define value?

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