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Creating Customer Value is Essential in a Blue Ocean Market Space

7/31/2016

Corporate Challenge: You are the market leader in a Blue Ocean Market, and your competitors have arrived.

Ironbound Strategy: Create value for customers, employees, and society to strengthen your brand. Customers always choose brands that create value.

Ironbound Action: In most Blue Ocean Markets, the first innovator rarely becomes the market leader. Brands that are focused on creating value enter late, and dominate. Oregon based Tofurky created the first commercially available vegan pizza pocket. It was dry, and did not taste like good pizza. California based Gardein entered the market space and focused on creating value for customers. They chose the best crust, the tastiest sauce, and the stringiest non-dairy-cheese for their pizza pocket. By focusing on customer value Gardein is now the fastest growing company in the blue ocean, while Tofurky is steadily declining even though they were the category incumbent. Never stop creating customer value.

Gardein

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Innovate Customer Value Creation with Wearable Technology

7/25/2016

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Image: Tech Radar

Corporate Challenge: New technologies and methods of payment are slowly eroding the need to carry credit cards. Credit card companies are competing aggressively
with new innovations to maintain their customer acquisition growth.

Ironbound Strategy: Brands become powerful by creating value for customers, employees, and society. Overtime powerful brands can disrupt their industry
and become the dominant leader. To stay powerful, a brand must actively continue exploring new value creating opportunities.

Ironbound Action: Visa has become a powerful brand through the positive values it holistically creates. They create society value by working to improve lives around the world, and employee value by promoting a responsible working environment. Most importantly, in addition to processing payment transactions (100 Billion or US$6.8 Trillion in 2015), they create value for customers by teaching them how to spend, save, and budget. Customer value creation hasn’t stopped with their success. Visa recently introduced the first wearable NFC ring backed Visa account for Team Visa athletes attending the 2016 RIO Summer Olympics. Powerful brands
grow by creating value and never stop with success.

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How Breaking Down Walls Creates Customer, Employee, and Society Value

7/17/2016

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Image: Businesswire

Corporate Challenge: In a heavily competitive market space, your retail store looks just like any other store.

Ironbound Strategy: Replace walls with glass as an inexpensive way to create value for customers, employees, and society.

Ironbound Action: Kentucky based A&W restaurants are beginning to replace their drive-thru windows with a large pane of glass. This simple change creates value for employees by bringing natural sunlight into their work space. Customer value is created as drive-thru patrons can watch their food being prepared. Windows in work spaces create a sense of community, and glass architecture aesthetically increases your brand's society value. Massachusetts based Cape Cod Chips turned a brick wall into a glass wall to allow visitors to watch their favorite snack being made with a self guided tour. Opening up retail spaces strengthens your brand image, and creates immeasurable value for the brand's future.

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Creating Lasting Memories for Customers Strengthens the Brand

7/11/2016

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Image: The Peninsula Beverly Hills

Corporate Challenge: Your market space is filled with
competitors. Customers are not being loyal to your brand.

Ironbound Strategy: Create value for customers by focusing on creating lasting memories. Make small simple enhancements that create a lasting impression.

Ironbound Action: The Peninsula Beverly Hills has been focused on creating lasting memories for customers. Most notably, The Peninsula has differentiated themselves from their competitors by providing custom embroidered pillowcases for their guests. According to JD Power and Associates, guest satisfaction at the worlds largest hotel brands have been declining. Hotel guests want more than the comforts of home on their travels. Millenial guests seek out experiences, and look for new and exciting offerings in their travels. The Peninsula Beverly Hills generates value for their customers in creative ways, with low-cost and high-impact innovations. As a result, their guest return rate is 70%, among the highest in the industry.

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Creating Customer Value is Essential in a Blue Ocean Market Space

Innovate Customer Value Creation with Wearable Technology

How Breaking Down Walls Creates Customer, Employee, and Society Value

Creating Lasting Memories for Customers Strengthens the Brand

#BuildABetterWorld

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