In today’s hyper-competitive markets, changing business models, shrinking / stagnant corporate budgets and demanding consumers, there is a need to achieve mass personalization and to have skin in the game.
Every consumer thinks that their specific need/business pain is unique to them and as a result, the cookie-cutter solution approach from a vendor will not work for them. Perception is reality. As a result, it is imperative for service providers, to understand each prospects need/ business pain and view it as an individual case and tailor make “The Solution for Them”. It is is in this context where a modular platform approach makes the most sense. If the solution can be divided into two components- a common framework which is going to be the foundation of every solution that meets 75-85% of the clients need, as one component; the other component is the customizable modular piece that can be made specific to each client. This 2-bit approach enables service providers to achieve mass personalization and try to get to 1to1 marketing with each B2B prospect. This is easier said than done.
Combine mass personalization with Business Benefits Realization (BBR)based pricing and you have a winning combination at hand. The BBR model ensures that you have skin in the game and are vested in your customer’s success- if the client does not achieve pre-defined and quantified business value from utilizing your solution, then you donot get paid. Sounds counterintuitive, but this model makes perfect business sense and reduces the barriers to trial. One of the reasons Home Depot sells so much of stuff, is because they offer the clients an easy way to return stuff, if they don’t find it useful or if it does/nt serve their need- no risk return. Choice, personalization, money back guarantee. The 3 legs of the success tool.