Let’s say we sell a sports watch – an innovation, because it’s an anti-aging sports watch. We know that everyone wants to do something to stay younger than they actually are. Contributing to personal success is at the heart of our business model. But we do not know how to measure success.
However, we if we ask our users a few questions we get similar answers:
• How old are you? – We get a number
• How old do you feel? – We get another number.
We don’t learn that much. But if we ask a third question, as follows, we get richer information:
• What do you take as a measure for your ‘inner age’?
We will suddenly get more varied answers relating to one’s
• or taste in music
We eventually learn something from our customers about their internal scales.
Although we sell them all the same product, from the user perspective they have mentioned four different ways above, to measure the impact of using our product.
The value for each type of product or service focuses on the background of the customer’s motivation to buy and on the standards for personal success in use.
Above we listed four ways to measure the perceived value. Nevertheless, there are many more. What would be your personal anti-aging benchmark?