So what makes you different?
I begin my third discussion with LT Gibson, CEO of building material distributor US LBM exploring this very question. He quickly points out that most distributors can’t articulate their difference beyond a superficial “Service.”
So if “service” isn’t a compelling value proposition, what is?
We strive to create more value for everybody in the channel. L.T. Gibson
In the case of US LBM, the value proposition is holistic and multi-faceted. Of course they work to understand the customer better and deeper than any others in the industry in an effort to help them do their jobs better and more profitably. But, in L.T.’s mind that’s not enough.
You must also understand your customer’s customer and insure your solutions flow downstream to make their lives better as well. And then… you must look upstream to make your suppliers more efficient and profitable as well.
And when you take the lessons L.T. shares in this episode you’ll begin to develop your own roadmap to create more value for everybody in the channel … including yourself!
In this 32 minute episode L.T. and I discuss:
- Why “service” is not a good response to “What makes you different than everybody else in the market.”
- The multi levels of a relevant value proposition
- How to work from your strengths to evolve the value proposition
- The role data and benchmarks play in a compelling value proposition
- How this building materials distributor benchmarked itself against Delta Airlines to remove complexity, deliver simplicity, and an amazing customer experience.
- How transparency and sharing “every piece of information we have” contributes to helping customers build their business
- Creating loyalty and competitive advantage
- How to evaluate the risk and investment in creating a compelling value proposition
- What a heard of buffalos can teach us about creating excellence
- The role your suppliers play in your value proposition
- The role technology and data in your value proposition
The Show Notes
- L.T. Gibson
- U.S. LBM
- US LBM Debuts B2B Mobile App
- INNOVATE! How Successful Distributors Lead Change In Disruptive Times
- Dirk Beveridge Speaking
- UnleashWD Innovation Summit
Other Episodes In The 5 Part U.S. LBM Podcast Series
- Episode 1 – Setting Out To Change An Industry – The Power of Vision
- Episode 2 – Culture at the epicenter of change … and meaning at US LBM
- Episode 4 – Flipping the business model 180 degrees (Monday June 29)
- Episode 5 – Leading in an age where the traditional management structures must be rethought (Monday July 6)
* Links will be provided when each episode is published
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