What is creating value for customers?
Creating Customer Value increases customer satisfaction and the customer experience. A good customer experience will create value for a Customer). Creating Customer Value (better benefits versus price) increases loyalty, market share, price, reduces errors and increases efficiency.
How do you determine the value of your customers?
How to Measure Customer Value
- Identify customer benefits.
- Total customer costs.
- Find the difference between customer benefits and customer costs.
- Evaluate your customer experience.
- Focus on more than price.
- Collect customer data.
- Target your most loyal customers.
- Segment your customer base.
What strategies can you apply in order to create customer value?
Bringing value to customers strategy #1. Make motivational programs
- Discounts. You can offer a discount to high-spending customers.
- Special offers. Gratitude and gifts for cooperation are always welcomed.
- Free trials.
- Subscription services.
- Partnering with another brand.