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Creating Customer Value: Building Loyalty and Enhancing Experiences for Lasting Success

Updated: Feb 7

Create Value

Creating value for your clients is the heart of any successful business endeavor. To embark on this journey, it's crucial to reimagine your value proposition and align it with your customers' overall experience. In a thought-provoking article from the esteemed Harvard Business Review, the author suggests a novel approach: "staple yourself to an order." In simpler terms, envision yourself as a customer's order and navigate the entire process within your organization. By dissecting every step, you can identify areas where you can add value and transform the customer experience.

Removing Dissatisfiers

You don't need to be a superhero to add value; often, the most impactful actions involve eliminating dissatisfying elements. Imagine visiting a hospital where the parking situation is abysmal. After wandering through confusing hallways for 40 minutes, you're left frustrated and late for your appointment. Fixing the parking issue may not earn you extra value points, but not addressing it subtracts from the overall customer experience. Similarly, while being courteous on the phone or at the information desk, and minimizing wait times might not win you accolades, failing in these areas detracts from customer satisfaction.

Engaging the Entire Organization

To create exceptional value, it's vital to involve your entire organization. Every encounter a customer has with your business shapes their perception. You could provide a great experience in ten different interactions, but a single negative encounter—the result of a flawed process or an untrained employee—can undo all the progress you've made. Therefore, cultivating customer loyalty requires concerted efforts from every department.

The Role of Senior Management

Securing senior management buy-in is instrumental in promoting customer loyalty. How management treats employees directly reflects in the customer experience. As Herb Kelleher, CEO of Southwest Airlines, wisely stated, "If a person has a great attitude, we can teach them the skills they need." It's essential to hire talented individuals, invest in training, provide coaching and feedback, and intervene when a customer service representative consistently receives negative feedback. The commitment to fostering customer-centricity must permeate the entire organization.

Harnessing Employee Incentives

Employee incentives can be a powerful tool to align everyone's focus on customer value. Evaluate whether your incentive structure rewards solely for acquiring new business, potentially leaving existing accounts unattended. At Cisco, client satisfaction plays a pivotal role in determining bonuses, emphasizing the significance of retaining and delighting existing customers.

Continuous Reassessment Value creation is an ongoing endeavor. Regularly reassess different aspects of your value proposition to ensure you are consistently adding value and not subtracting it. By regularly monitoring and enhancing customer experiences, you can maintain a competitive edge in the marketplace.

Creating value for customers is the lifeblood of any successful business. By reimagining your value proposition and refining the customer experience, you can foster loyalty and satisfaction. We invite you to share your insights on how you create value for your company in the comments below. For more engaging content and updates, follow us on LinkedIn at "Encompass-CX." Together, let's unlock the power of customer value and build lasting relationships.

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