Value Drivers | Purchase Drivers | Price Drivers
The drivers that Influence Your Customers
Your customers’ desire to purchase comes from their needs and want, but the decision regarding what to purchase is influenced by drivers. We distinguish between three types of drivers:
Value drivers:
Elements of your offering that enhance buyers’ perception of its value. This value can be created through your product or service by incorporating cutting-edge technology, having a strong brand recognition, satisfied customers, etc. Your value drivers will serve to give you a competitive advantage and ensure the success of your product or service.
Purchase (Decision) drivers:
Elements of an offering that influence customers to purchase your products. Decision drivers are based on your customers personal wants & needs. Examples of purchase drivers: location – does your customer want to have a physical location they can visit. Customer support – does your company offer immediate support for your customers.
Price drivers:
Elements of an offering that influence customers to pay more than others will charge.
When value drivers, purchase drivers, & price drivers are isolated, quantified and qualified, and split among customer segments, it gives you the ability to leverage this into more effective marketing messages, product options and sales processes increases.
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