GEMS and Customer Value
GEMS has developed a unique diagnostic tool to evalaute and benchmark the performance of companies on Customer Value Management, based on the five-step Pentadigm® CVM model featured in the book, co-written by Phil Allen (CEO, GEMS and MarketAbility): "Value-Based Marketing for Bottom-Line Success 5 Steps to Creating Customer Value". ISBN 0-07-139656-X. De Bonis, Balinski & Allen, published January 2003 by McGraw-Hill with the American Marketing Association
GEMS CVM (Customer Value Management) Diagnostic
produces a rigorous and systematic evaluation of a company's performance on each of the five steps in the Pentadigm model:
1. Understand the Customer
2. Commit to the Customer
3. Create Customer Value
4. Obtain Customer Feedback
5. Improve Customer Value
CVM Diagnostic Approach and Outputs
The CVM Diagnostic features a unique set of parameters and measures applied to each of the five steps and involves detailed analysis plus interviews and discussions with client's customers, non-customers and staff at all levels. The results of the detailed study will be presented back to clients's teams in an interactive workshop geared to identify for each of the Customer Value Management steps:
1. What client does well today, can reinforce and leverage in the marketplace with target customers.
2. What client needs to Improve to be better positioned in the marketplace and with target customers.
3. What client must do differently to win greater success in the marketplace and with the target customers.
4. How does client compare with best practice.
Specific deliverables for client will be a measure of performance on each step:
1. Understand the Customer
Understand market customers, customer segmentation, evaluate competitive position, target customer segments.
2. Commit to the Customer
Develop customer segment strategy, differentiate offering to chosen target segments, communicate offerings internally and externally, define and measure key performance indicators.
3. Create Customer Value
Develop a customer culture through the organisation, define and populate customer value processes, develop customer value infrastructure, implement customer value.
4. Obtain Customer Feedback
Track won and lost business, proactively obtain customer feedback, measure and track customer satisfaction, manage customer queries and complaints.
5. Improve Customer Value
Implement short term improvements, continuous and ongoing improvements to customer value, challenges customer understanding, re-define customer commitments, improve implementation.
6. Key Actions and Initiatives
The Diagnostic and the interactive workshop provide an action list for immediate, medium and longer term implementation as the basis for the future success of the client in the market and at target customers.
Pentadigm® is a registered trademark of GEMS Europe GmbH