Managing Customer Value
As businesses increasingly adopt a customer-centric focus, they realize that simply understanding what customers want isn’t always enough. To create precious customer experiences, companies need to go deeper and understand what makes customers tick. What motivates them? What are their aspirations? What are their fears and concerns? Only by understanding the underlying psychological factors that Read More …
Value-based pricing is a pricing strategy that involves setting prices based on the perceived value of a product or service to customers. Implementing value-based pricing requires focus and research on what matters to customers and what they are willing to pay for. It is important to consider how customers perceive value and to align prices Read More …
Designing Sales Inquiries is about creating opportunities for salespeople to work with customers through content in practical ways initiated and sustained by questions, structured through tasks, and enabled with resources. The beginning of the Sales Inquiry starts with finding a content angle as represented in our existing capabilities is a vital first step. We rely Read More …
This video highlights that managing customer value is twofold; it involves creating value for customers as well as capturing that value. It provides a number of tips for accomplishing these tasks, such as segmenting customers, understanding their needs, and developing a strong value proposition. More conversation about this topic: Create Value for the Customer and Read More …
When identifying customers, companies typically use one of two methods: segments or clusters. Segments are groups of customers who share similar characteristics, while clusters are groups of customers with similar purchasing behavior. Market Segmentation Segments can be helpful in that they provide a way to quickly and easily identify similarities among customers. This can be Read More …
To manage customer value, companies must understand what it is and how it is created. Most experts agree that customer value is created by initially addressing a customer’s problem. Once the problem is solved, the customer is delighted, and the company has a chance to sell them more products or services. It is essential for Read More …