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Value Realisation, Value Expansion and Renewals

Customer Service, Customer Support and Customer Experience Customer Life Cycle

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FAQs

  • Renewals and Growth are two important metrics for understanding the health of a company. Renewals show how many times a company has raised money in the past while Growth shows how much that company has grown over time.
  • Growth is often seen as a measure of success, but it’s not always possible to measure growth because it’s hard to determine whether something is growing or not.

Customers begin with a value expectation, engage with a product or solution, and ultimately realise business value for their company through the value realisation process.

The three stages of value realization are:

  • Creation (purchase)
  • Consumption (use)
  • Destruction (disposal)

  • Value expansion happens when the value of a product or service is increased in the market. For example, a new product may be introduced to the market with a lower price point, but it gains more customers and generates more revenue than its previous version.
  • Value expansion is important for companies because it can help them stand out from their competitors. It also helps them gain greater profits by introducing new products to the market.
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Value expansion is the process of increasing the value of a product or service by adding new features and benefits over time.

The three stages of value expansion are:

  •  Incremental Value Expansion
  •  Radical Value Expansion
  •  Disruptive Value Expansion

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