| Perceived value as defined by customers creates | | | | ability to develop a loyal customer relationship. To |
| loyal customer relationships, and customer loyalty | | | | create and sustain loyal customers it is necessary |
| is the best predictor of your future strength and | | | | to consider every contact with each customer as |
| growth potential. The value you provide to your | | | | an opportunity for you to provide valueevery |
| customers is always compared to the value your | | | | time. Every service point is critical and every |
| competitors provide: therefore, value is your | | | | service point has a level of expectation from the |
| customers perception relative to similar products | | | | customer that must be understood and managed. |
| or services in the marketplaceyour competitors. | | | | We call these contact pointspoints of connection. |
| Perceived value occurs at the intersection of | | | | Every point of connection gives your organization |
| what customers want and what they get from | | | | the opportunity to emotionally connect with your |
| you versus what they could get from your | | | | customers. Your customers will judge your value |
| competition. You can only sustain customer loyalty | | | | and their emotional tie at every point. Developing |
| by continually meeting your customers product | | | | and implementing a strategy of creating a |
| service qualifications, specifications, or | | | | consistent emotional connection with your |
| expectations. You also need to meet their needs | | | | customer creates value, which creates loyal |
| in the order that customers deem important while | | | | customer relationships. |
| maintaining a favorable comparison between you | | | | We know that loyal customers will always return |
| and your competition. In your marketplace, your | | | | to purchase your product or service, which create |
| competitors are the alternative suppliers your | | | | a long-term stream of revenue. Another |
| customers use to form their comparative value | | | | advantage of loyal customers is that they will |
| perceptions. How would your customer define | | | | consistently boast about your product or service |
| perceived value? | | | | creating the most effective and least expensive |
| For example if your customers expect your | | | | form of advertising for your organization. |
| product to perform error free, to be delivered on | | | | Additional advantages of developing a loyal |
| time, to be supported by timely and personal | | | | customer base is their willingness to pay more for |
| technical support, and to be properly billed at a | | | | your product or service, and they are also more |
| fair price, you must be good in all categories to | | | | forgiving when your organization makes a |
| get an A, and you must be at least as good as | | | | mistake. Why? As loyal customers, they trust |
| your competitors. If you deliver a product that | | | | your organization and have faith that you are fair. |
| meets all of their design specifications but are | | | | Making the strategic decision to create a loyal |
| unable to provide personal technical support, you | | | | customer base is one of the most important |
| failed in meeting an important criteria; therefore, | | | | commitments you can make to the success of |
| the perceived value will decrease. For every mark | | | | your organization. Your individual contribution is |
| you miss, the value as defined by your | | | | also a large part of that success. |
| customers decreases and you slowly lose the | | | | |