Scribd
Upload
15 views36 pages

Module 5 - The Value of Customers

Uploaded by

lizas4191
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
15 views36 pages

Module 5 - The Value of Customers

Uploaded by

lizas4191
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 36

The Value of

Customers
Module 5
Objectives:
At the end of the lesson, the students should
be able to:
Understand customer loyalty and its importance
Explain the value of customers
Understand how to build customer value
Describe the different types of customers
Identify the relationship development strategies
Identify the basic mode of customer support service in
the Philippines
Customer Loyalty
•Ongoing positive relationship
between a customer & business.
•Drives repeat purchases &
prompts existing customers to
choose your business over a
competitor.
What makes a loyal
customer?
• Customer loyalty is founded on excellent
customer services.
• Loyalty happens as a result of multiple
positive interactions that build up a feeling of
trust over time.
• Customer loyalty is the intention of continuing
the relationship.
‘‘People who had a bad
experience with a brand, but the
brand fixed it, are more loyal
than customers who never had a
problem in the first place.’’
Loyal customers are those who:
• Make repeat purchases
• Aren’t interested in your competitors
• Engage with you on various channels
• Provide feedback on how your company can
improve its offerings
• Advocate for your brand & recommend your
products or services to others
Importance of Building
Customer Loyalty
Building Customer Value
• Customer value is the perception of what a
product or service is worth to a customer
versus the possible alternatives
• Worth means whether the customer feels
he got benefits & services over what he paid
• In a simplistic equation form, customer value
is;
Benefits – Cost (CV = B – C)
As a business, what can/will
you do to create value for
your customers?
How to Build
Customer Value
• Give a price that makes customer believe
that he is getting more than he pays for the
benefits he gets versus competitive offers
• Reduce the price, or keep the same price &
give something extra over competition
• Make it convenient for customer to buy, and
how he wants to buy & pay
• Get a proper price justification, not just a
price
• Create a good image for the business, including
brand & trust or when customer appreciates the
values of business including sustainability
• Give customer a product that works as it is meant
to & easy for one to understand & use
• Make the customer feel valued
- Smile & be attentive to customers
- Make it easy for the customer to contact the
business
- Answer queries & problems ASAP
Levels of Customer
Value
Basic and expected levels
•Include basic requirements of
conducting a business
Desired customer value
•Involves what the customers want from
the purchase or service experience
•First opportunity for a business to get
ahead of the competition
Unanticipated customer value
•Pertains to an unexpected purchase
or service experience that may go
beyond what the customers desire
Types of Customers
Strangers
•Customers whose needs do not fit
the company’s offerings
•Company does not need to invest &
exert effort to win them
Butterflies
•Are not loyal to specific brand
because they keep on looking for the
best deals w/c may lead to patronizing
other brands
•The company can enjoy profits from
these customers only for a short
period
True Friends
• Have needs that match the company’s
offerings
• They make repeat purchases & patronize
the brand as long as it satisfies their needs
• The company must invest in these
customers & strengthen its relationship
with them
Freeloaders
•Are loyal but not profitable because
of the limited fit between their needs
& the company’s offering
Relationship Development
Strategies
Communicate w/ customers
frequently & effectively
•Always get in touch through e-mail &
social networking sites
•Provide various means to give
immediate feedback (ex. online
customer surveys)
Offer customer rewards
•Customer loyalty programs, w/c
include special discounts, freebies,
perks, may work well
•Encourage customers to remain
loyal because they are rewarded for
their patronage
Conduct special events and
provide sponsorship
•Companies can hold or sponsor
parties, concerts, contests, etc. to
boost interaction among loyal
customers & company
representatives
Enhance customer service
•Some company outsource their
services to third party
organizations to cater complaints
and inquiries, promote their latest
offerings and provide technical
support
Utilize languages to reach a
wider customer base
• Create promotional materials in different
languages to cater specific regions
• Consumers can also now choose the
language they would like to use to
communicate w/ customer service
representative
Basic Mode of Customer
Support/Service in the
Philippines
Email and SMS
•Help businesses communicate with
their clientele more easily as most
consumers regularly check their
inboxes
Social Networking Sites
• These become channels for netizens to
ask for customer support
• Telecom companies promptly responds
to inquiries & complaints on social media
and redirects the customer to the site’s
private messaging system for further
assistance
Live chat support
•Facilitates real time correspondence
between customer and the company
representative

You might also like