How many customers can understand which foods are healthy, which clothing is luxurious, which car is innovative, which house is sustainable, which company is open to their feedback?
Customers can easily understand if products are cheaper or more expensive because everyone knows arithmetic. But when it comes to more complex soft values such as health, luxury, innovation, sustainability, openness, they experience difficulty and can make wrong purchasing choices.
Main causes are fierce competition which motivates brands to fake these values, and lack of customer education. Most customers think only vegetables are healthy, luxury is always expensive, innovation is a change in product size, and openness is a fast reply from brand’s social media account. Customers have difficulty making an informed choice and end up paying for poorer quality.
To compete with complex soft values first educate your team and then invest in customer education. Customer education will increase customer loyalty and reduce competitors. Initial investment is minimal – short videos and texts will do the job.
|Design your open innovation mix||The importance of innovation|