Last week, I bought a pair of shoes. The cashier asked me how I'd like my receipt:
- a paper receipt from the register
- an e-Recipt delivered to my email
- both a paper receipt and an e-receipt
Without hesitating, I opted for the email receipt. That would mean one less piece of paper in my wallet. One less receipt to lose now, and spend time finding later, should I need to return the shoes. One less step in the transaction. One less thing to deal with.
For me, the paper receipt offerned no value; it would only add to the clutter in my life, and cause me to have to take additional steps to later remove that clutter (searching for a trash can, and cleaning out my wallet.)
"It's only a paper receipt," you wonder. Why is he making such a big deal about it.?"
Well, you're right - it is only a small, relatively insignificant component of the transaction. In fact, it's a piece of necessary overhead that we've accepted as a fact of retail life. But it's also a powerful example of transaction overhead - those "requirments" that surround the act of finding, evaluating, buying , using and owning a product or service, but add no value to either of those steps.
If you were to remove all the low-to-no-value components from the buying experience, all that would be left would be value - pure value.
Think of how customers buy your products or services. What are the low-value elements that you or your processes impose upon them? What would happen if your removed those elements? Or at least transformed them to become less visible to the customer? How would that enhance the customer experience?