customer loyalty

Your Customized Service as a Product

Your Customized Service as a Product – The Secret to Earning Customer Loyalty

Normally when you think about a product versus a service, you think about 2 different things:

  1. A service is something that you get that provides you with immediate, but not lasting value. It is intangible, meaning that you cannot pick it up and touch it or view it.
  2. A product is something that generally has durable value – or is something you will enjoy for a while. It is also something that is tangible.

For example, when you get your hair cut, you’ll look fantastic for about a day. After that, you’ve got to start maintaining it, so the immediate value you got from the haircut is not durable. On the other hand, if you purchase a mobile phone, the value you get out of it will remain as long as you use the phone.

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Learning Loyalty Languages to Help Build Customer Loyalty

According to Talech’s Retail Technology Report, 87 percent of consumers said they enjoy participating in customer loyalty programs, but only 11 percent of current non-participating retailers actually plan to adopt one. Maybe your business has adopted a rewards program designed to keep current customers happy, while enticing new ones to walk through your doors. But are you offering rewards your customers actually want? Today, it’s no longer enough to launch a loyalty program with outdated punch cards to earn generic discounts. Customers want a whole new brand experience.
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Market Assessment Series: Part 6 | Extraordinary Business

Question 6: Who will our competitors be in the new market? Why do customers buy from these market players? And above all, what do we need to do to make them buy from us?

In the sixth part of our market assessment series, we’ll discuss one of the most crucial aspects of entering any market – the competition. Who will your company, your products and services be competing against? You should also know why people are buying from these market players. And of course, you must find out what it is you need to do to make them buy from you and drive customer satisfaction.
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