How the world's most expensive strawberries can help drive revenue growth
How to drive revenue growth through valuable experiences
A quick glance:
Question: Can strawberries redefine your prices?
Quotes: On creating customer delight (from Jim Rohn and David Armano)
Framework: 5 techniques to achieve customer delight while balancing profitability and practicality
LinkedIn: As marketers, we hear the same old songs
Podcast Episode: The power of customer stories: Driving revenue growth through authenticity
Question: Can strawberries redefine your prices?
I came across an interesting video.
It's about UK food expert Paul Hollywood and what happens when he eats the most expensive strawberry in the world.
You can watch the video at this YouTube link -
The strawberry is grown by strawberry expert Mikio Okuda, owner of Okuda Farm, in Japan.
At Okuda Farm, Paul was stunned to see boxes of strawberries costing between 140 and 250 UK pounds for a box.
But his biggest shock was yet to come.
When asked by Paul why his strawberries were so expensive, Okuda told him they had the "highest quality of sweetness, scent, and aftertaste in Japan."
"Customers buy them with satisfaction, even at this price," he added.
Okuda then gave Paul his most expensive strawberry to taste.
His most expensive strawberry cost 50,000 Japanese yen - (that's approximately 350 UK pounds or, at the time, ~ 400 US dollars.)
You read that right.
50,000 Japanese yen for one single strawberry!
Paul Hollywood paid his money and ate every part of the strawberry.
Including the stalk!
And as you can see in the video, he loved the 'experience' of eating the most expensive strawberry in the world.
I recommend watching this short video today.
It will stretch your mind about the prices you charge for your own products and services.
And make you see that many of your current prices are far too low compared to the 'real value' of what you offer.
Take Action:
Watch the video. Then email me at - vinay.k@sproutworth and tell me one helpful idea that you gained from watching it.
Quotes on creating customer delight
“One customer well taken care of could be more valuable than $10,000 worth of advertising.” - Jim Rohn, American Entrepreneur, Author, and Motivational Speaker
Jim Rohn's quote emphasizes the enduring power of satisfied customers and the deeper significance of relationships and trust. It highlights that satisfied customers become brand advocates, fostering trust, loyalty, and organic growth. Businesses can build strong, cost-effective, emotionally connected customer relationships by prioritizing customer satisfaction and focusing on quality over quantity.
As the next quote highlights, this customer-centric approach saves money and ensures sustainability and adaptability in an ever-changing business landscape, making it a valuable long-term strategy.
Provide an experience that is both useful, usable, desirable, and differentiated, and you will create demand for your brand and delight your customers. - David Armano, ex-U.S. Strategy Director, Edelman
Framework: 5 techniques to achieve customer delight while balancing profitability and practicality
Want to master customer experience (CX) management?
Use these 5 CX techniques to achieve customer delight.
Ken Lonyai has been in CX management for over a decade. During that time, Ken has become a thought leader on the business implications of user and customer experience, advising retail and brand executives on UX and CX initiatives that improve the bottom line. Ken has even coined the term "humanized user experience" and co-founded one of the largest HUI communities in New York.
But do you want to know a secret?
Ken uses a framework with 5 CX techniques to always achieve customer delight. Here are the techniques.
Technique #1: The Humanized User Experience Framework
Here's how it works:
Step 1: Understand the customer's "jobs to be done" and their desired outcomes.
Step 2: Shift your perspective to look at case studies and customer stories from the customer's point of view, highlighting their pain points and how your product or service can alleviate them.
Step 3: Publish customer stories to attract similar-minded customers and create a sense of empathy and relatability.
Following this framework allows you to create a human-centered approach to CX management.
Technique #2: Understanding B2B Buyer Types
Here's how it works:
Step 1: Recognize that different buyer types, such as safety managers or accountants, have varying needs and interests.
Step 2: Tailor your marketing and sales efforts to highlight the key points that matter most to each buyer type.
Step 3: Understand that fully developing a product around UX while satisfying diverse stakeholder needs can be challenging, but marketing and sales are crucial in striking the right balance.
By understanding and targeting the specific needs of different buyer types, you can significantly impact the success of your CX initiatives.
Technique #3: Focusing on UX Research and Marketing
Here's how it works:
Avoid getting caught up in new technology hype and prioritize UX research and marketing efforts.
Understanding customer experiences and using qualitative indicators and research to create actionable directives.
Remember that capturing customer interviews and stories can lead to better solutions and attract similar-minded customers.
Prioritizing UX research and marketing efforts can be a game-changer for your CX management strategy.
Technique #4: Navigating Resource Challenges
Here's how it works:
Step 1: Recognize that having a great roadmap is only worthwhile if you have enough engineers to build it.
Step 2: Invest in hiring the right people for the job and empower them with the necessary authority and autonomy.
Step 3: Proactively manage resource challenges by demonstrating the business value of CX initiatives and advocating for the support and resources needed.
By effectively navigating resource challenges, you can overcome obstacles and drive success in your CX management endeavors.
Technique #5: Making Sound Decisions for Customer Satisfaction
Here's how it works:
Differentiate between UX and CX, with CX focusing more on the entire path and overall value.
Identify the underlying problem before implementing requested changes.
Consider revamping the whole product rather than simply adding new features.
Always prioritize customer satisfaction and align your decisions with their needs and desires.
You can achieve a CX that delights your customers by making sound decisions and prioritizing customer satisfaction.
Mastering CX management can be a complex task. Still, by implementing these five techniques - the Humanized User Experience Framework, understanding B2B buyer types, focusing on UX research and marketing, navigating resource challenges, and making sound decisions for customer satisfaction - you'll be well on your way to achieving customer delight. Start applying these techniques today and see their positive impact on your CX initiatives.
You can hear more on my conversation with Ken here
LinkedIn post: As marketers, we hear the same old songs
Peyton Walbeck, head of marketing at Nectar, shared this post.
I think Clemence Lepers makes a good point with this comment -
Podcast Episode: The power of customer stories: Driving revenue growth through authenticity
In B2B marketing, customer stories have emerged as a powerful tool to drive revenue growth. By sharing authentic stories about real customers and their experiences, businesses can establish trust, build credibility, and ultimately influence purchasing decisions.
In a conversation with James Tennant, founder of Converge.today, we explored the idea of content promotion vs creation, but our conversation also provided a perspective to harness the power of customer stories and implement them in your business.
Here’s how:
1. Choose the Right Customers: Select customers who have achieved significant results with your product or service. Their success stories will have a greater impact and resonate with your target audience.
2. Showcase Tangible Results: Highlight the tangible outcomes your customers have achieved, such as increased revenue, cost savings, or improved productivity. These concrete results are more persuasive and relatable for potential buyers.
3. Craft a Compelling Narrative: Tell a story that captivates your audience by focusing on your customers' challenges, the solutions they discovered, and the positive outcomes they experienced. Make it relatable and emotionally engaging.
4. Use Multiple Formats: Experiment with different formats like written testimonials, case studies, videos, and podcasts to cater to other preferences and platforms. This allows your audience to engage with the content how they prefer.
5. Leverage Distribution Channels: Share your customer stories across relevant channels, including your website, social media platforms, email newsletters, and industry publications. This expands your reach and ensures maximum visibility.
6. Encourage Customer Involvement: Actively involve your customers in promoting their stories. Encourage them to share on their social media networks and provide opportunities for them to speak at conferences or webinars. This amplifies your message and strengthens the bond with your customers.
Implementing these key points can help you leverage the power of customer stories to drive revenue growth and build a reputation based on authenticity. By showcasing the real-life experiences of your satisfied customers, you're providing potential buyers with social proof and building trust in your brand.
Have questions or need help with customer stories? Reach out to me - vinay.k@sproutworth.com
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