Loyalty Countdown #7 – Know Your Customer’s Definition of Value

in Apr 25, 2018

The loyalty password is value. Knowing how your customer experiences value and then delivering on those terms is critical to building strong customer loyalty. But knowing your customer’s true definition of value is not easy because value definitions are constantly changing. Invest in customer loyalty research that enables you to understand, through the eyes of the customer, how well you deliver value.

Action Step: Review your company’s current knowledge base regarding what your customers value. Look for these insights: (1) What is it about your products or services that drives loyalty today? (2) Which product or service areas most need improvement? (3) Where are you currently over-investing? (4) Which areas deserve more study for potential future investment? Does this four-point review uncover knowledge gaps? Value-based loyalty research can help.

Source: Griffin, Jill. Customer Loyalty: How To Earn It How To Keep It. 2002.

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