Worthix’s Customer Value Alignment (CVA) framework allows companies to use insights found in customer-led conversations to understand where to focus their efforts to maximize their customers’ perception of value. These are the three steps in the cycle:
- Step 1: Track customer value
- Step 2: Find actionability
- Step 3: Co-create innovation
Tracking customer value and finding actionable insights so you can make an impactful change is important. It allows you to make sure you are looking in the right place and eventually investing resources in solving the right problems.
The third step, then, helps you AB test the solutions you are considering to ensure you are solving the problem in the best possible way for your customers, let’s take a look at how that’s done.
Innovate with your customer’s input
Our clients often find themselves looking for innovative ways to create solutions that are valuable to both them and their customers. Worthix’s Co-creation Innovation feature allows our clients to collaborate with their respondents to develop business solutions that are creative, effective, and tailored to their audience.
You will notice many trends when tracking and analyzing your customers’ responses, most of which will make sense to you and fit what you are expecting. With the right person in your company (with knowledge of your company’s business goals) sitting behind the Worthix platform, you may notice a trend and decide to course correctly. Before you decide how the company will solve this, you may want to circle back to the customers who have responded in that way and get their further input. Co-create Innovations allow you to set a trigger, whenever someone brings up a specific concern, and ask them a follow-up question. Something like “How would you have liked this resolved? With 3 or 4 options. This way, before you invest too much time or money, you already have a sense of the 1 or 2 best solutions for your customers.
Delivering a luxurious experience
To be more practical, here’s an example of how the tool works. Your target demographic is complaining quite regularly that a specific car model they purchased doesn’t feel very luxurious to sit inside. The drive is smooth, and everything is technically high-quality, but they associate driving the car with being a “soccer mom” which isn’t the demographic you were hoping for with this model. You have a few options. You can take this input, do a lot of research into what feels luxurious in a car, and learn that you have to change the material of the seats and the dashboard, the type of cushioning in the seats, etc. Or you can follow up. Use our tool to ask them what they feel would make the car more luxurious to sit in.
The results may tell you that the investment you have to make for the luxurious feel your specific demographic is hoping for is much smaller than what you thought. Make your customers feel more comfortable and luxurious by simply changing the mechanism in the driver’s seat to be adjusted in 6 ways instead of 2.
Strategic decisions with internal alignment
Worthix is the tool that allows you to make strategic decisions based on data, in a way that keeps your entire company aligned and focused on a handful of goals from the same trusted source. The three steps of the CVA cycle keep everything and everyone data-driven and proven before you act, with this last step helping you focus your efforts on solutions with the highest impact at the lowest cost.
If you have any questions or would like to see a demo, feel free to reach out! We love showing off this amazing technology to anyone who wants to see it.