The Customer Confidential Podcast

Tapping into Customers’ Deepest Needs

Bain Partner Eric Almquist returns to discuss developments in his Elements of Value framework and how companies are using it.

By Rob Markey and Eric Almquist

A lot of companies find themselves a situation in which their competitors are increasingly adding value to their products, while they’re struggling to figure out which features and services might move the needle with customers. The leaders of these companies aren’t sure what level of service will capture more of their market—or if they should even focus on service.

It’s the classic “how to play/where to win” question. Companies can’t invest in everything. To succeed, they must distinguish themselves from competitors. Often this means meeting customers’ deepest needs—aspirations they might not even be aware of.

Bain Partner Eric Almquist has spent much of his career researching these questions. In this episode, he discusses the 30 elements of value that draw customers most to a product or service. Companies that fulfill more of these needs have customers who are more loyal.

You can listen to our conversation on iTunes, Stitcher or through the player above.