Managing Customer Value
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 …
Charging what your product is worth is one of the most important factors in increasing sales. If you’re not pricing your products at a rate that reflects their value and what they can offer customers, you’re missing out on an excellent opportunity to increase sales. Accurate pricing of your products is especially important in today’s Read More …
The economy may fluctuate, but people’s lifestyles and preferences don’t change. People will often pay extra for what they want, regardless of the state of the economy. In tough economic times, mid-priced products and services – those of average value – are often lost. Low-priced, low-value alternatives and high-priced, high-value options tend to thrive. It’s Read More …
In the age of information, customer expectations are changing rapidly. Today’s customers demand a digital experience that is proactive, personalized, and convenient. This has created a new standard in customer experience management (CXM). Today’s consumers expect companies to have an eye for detail, access real-time information, and operate at high speed. They also look for Read More …
Are you ready? Most services being delivered over the internet. A public ledger of all transactions in chronological order. The ability of computers to process information and make decisions based on programmed rules. Ability to immerse yourself in a computer-generated artificial world. The blending of artificial computer images with real life. Robots perform various tasks. Read More …