It’s essential to offer your customers value to be competitive.
The wheels of commerce turn because customers value them. Your customers will buy from you if they feel valued. They’ll also engage with and follow you on social media, leave positive reviews, or recommend you to friends.
You’ll know how to create customer value if you are familiar with the Customer Value Journey framework. This article will focus on customer value and how to use it to enhance your Customer Value journey.
What do we mean by “creating customer value”?
“Customer value” is any aspect of your brand or product that increases its appeal to the customer. You can influence your customers’ decisions by adding value to the brand, development, and customer experience.
Value is whatever your customer needs wants, or enjoys. A bargain is always a “value,” but it is not the only one.
Why is it essential to create value for your customers?
Creating value for your clients is essential because the more you offer, the greater the likelihood they will buy your product, sign up for your brand, and become loyal customers.
Consider every purchase as a pair or scales. To convince a customer to buy your product, the value of your product must outweigh any negative aspects.
The cost of the product is the most obvious factor in the decision to buy. There’s more to the purchase decision than just money. Time, negative experiences, and risks are all factors that contribute to the perceived cost of your service or product.
If your website needs to be more professional and safe, customers may be afraid to buy your product, even if it’s useful and they can afford it.
If your purchasing process is complicated or lengthy, and your customer service could use improvement, your customers may decide to go elsewhere.
You can influence the purchase decision by adding value to your customers. The more value you create, the greater the benefits.
Customers who receive value from you are more likely to buy your products and return. Your customers will engage with your content and recommend you to friends. They’ll also boost your brand reputation by promoting your products.
Creating customer value is a worthwhile endeavor. How do you create customer value?
How to Create Customer Value
The Customer Value Journey is a framework to help you understand how to add value and assist your customers on their journey from conversion to beyond.
The eight steps are Awareness, Engagements, Subscribe, Converts, Excites, Ascends, Advocates, and Promote.
- Be aware: Attract your audience with relevant content.
- Engage: Communicate with your customers/prospects. Tell them that you care.
- Subscribe. Persuade new customers to sign up for your emails and to follow you on your social media accounts.
- Convert At this point, your prospect will become a client. You can use different value-adding strategies to push them through this phase.
- Add extras to increase the excitement.
- Ascend Continue to communicate and add value so that your first-time customer becomes a repeat buyer.
- Advocate Encourage your satisfied customers to share your content or write positive reviews.
- Promote your brand: Encourage your customers to spread the word about your brand and reward them.