In Session 3 of Vol Court, the topic of the evening was Customer Value.  Shawn Carson led the discussion opening up with an example of how and how not to interview customers, learning from their experience to understand their "customer pain".

Key Points:

• Customer Value is the foundation of the company - Understanding what customers need and are willing to pay for is detrimental to a startup company.
• Customer Pain - defined as "A problem, need, or desire strong enough to motivate a change in behavior." The reason the word pain is used is because it highlights the customer's willingness to part with their money in order to enjoy the benefits of the product.
• Customer Value Hierarchy - A framework that traces product features to the benefits they deliver and then to the values that convince the customer to buy.  Buying decisions are EMOTIONAL!
• Value Proposition - They way you communicate the value customers derive when they experience your product.

Plus, there were free tee shirts involved.  Here's the video:

Vol COurt Sesson 3 - Customer Value from Shawn Carson on Vimeo.

In Session 3, Shawn Carson discusses the concept of Customer Value and its impact on the business strategic planning process.