CUSTOMER THINK: STOP CUTTING PRICES! RETAIN CUSTOMERS WITH FOUR TYPES OF EXPERIENTIAL VALUE

Jim Barnes of Barnes Marketing Associates, Inc. contributed his advice for retaining customers in this week’s Customer Think. According to Barnes, a company’s value proposition should be flexible because the value customers are looking for is consistently changing.

Customer Think Excerpt:
company’s value proposition can’t be carved in stone; it must be flexible and adaptable. The value we offer to customers is constantly changing, whether we intend it to or not.

The challenge we face in business is ensuring that a large percentage of customers, and particularly those customers who are critical to our long-term success, view our value proposition consistently and as we intended, and that they see real value in it.

The customer’s perception of value is individualized and dependent on context and circumstances. What to one customer represents great value is to another a waste of money. What customers perceived to be great value in early 2008 may not represent the same value a year later.

What is Value Today?

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