By deploying the tool and incorporating MVM into your business, the focus on the mutual value you create can bring direct business and commercial benefits:
Improve your strategic planning
Mutual value can be a central aspect of your firm’s strategic planning by helping to focus on your core business purpose. Building an understanding of mutual value across your business leadership can engender a cohesive corporate stance.
Engage better with customers, employees and other stakeholders
Relationships with members and other stakeholders are critical to the successful functioning of mutuals. MVM can help to concentrate attention on meaningful relationships that help deliver the business purpose.
Develop ideas for marketing to drive sales
Differentiating your business offer in a crowded marketplace requires you to identify and drive forward clear communication of your unique value to members, customers and other stakeholders. MVM can help you to focus your marketing effort on the advantages that you have through your mutual ownership structure.
Communicate your firm’s economic and social value
Social and sustainability reporting is recognised as an important part of every firm’s story as a corporate citizen. From the role played in markets, to environmental and social footprints, businesses are conscious of their responsibilities to the economy and society. MVM adds a new dimension to this, establishing mutual business practice as a key contributor to social value delivery.
Help to access impact markets for investment
The growing impact investment market is a new opportunity for mutuals that intend to issue Mutual Capital Instruments. High quality social reporting that communicates the mutual value created and delivered by mutual businesses can feed directly into new prospects to raise investment capital.
How Statecover incorporated MVM
BCCM teamed up with researchers at Monash University, our members and the CME sector, to find a new way of measuring our positive impact on our members, our customers, the community and the economy – the Mutual Value Measurement (MVM)©. In this video, Linda Bostock (CEO, StateCover) discusses their implementation of MVM and the benefits of the program.