Holistic ways to derive Customer Value

1. Holistic ways to derive Customer Value

2. Holistic ways to derive Customer Value In a 1989 Inc. magazine interview, Steve Jobs said, “You can’t just ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new.” It is amazing how his words could foresee the pressing need in today’s business world – Understanding customers and anticipating customer requirements to maximize customer value. Firms have to make use of the necessary technology and analytical tools to deliver consistent service to every customer in an individual capacity.

3. Holistic ways to derive Customer Value • Customer analytics and marketing automation tools can be used to fuel the much-needed anticipatory methods to fulfill customer requirements. If the CMO wants to derive customer-level insights, she/he needs a platform that can retrieve behavioral data of every customer. In a normal CRM software, actions are taken based on the nature of a few to many groups of customers. • But Xerago offers a unique platform which can record the preferences of every single customer and take effective marketing calls. Using data-driven insights to serve each and every customer of your brand, is where the holistic approach exists.

4. Holistic ways to derive Customer Value • Customer-level data can help the CMO avoid the problem of uncertainty in attending to customers. Xerago also enhances the precision of targeting the right customers, by aligning the platform according to the dynamic expectations and behavior of every individual customer through the concept of Customer Value Maximization. Customer satisfaction increases multifold when every customer is shown that additional glimpse of attention and care at the right time via actionable insights derived from Xerago’s Customer Value Maximization platform.

5. Delivering Customer Value

6. Value in customers’ point of view Products and services are fine-tuned to suit the points of value as identified by the existing customers of the brand. The points of value are derived from the customer analytics data provided by Xerago’s marketing automation platform. Then, the CVM platform is further used for feasibility analysis of the values identified by the customers. After going through the profit points and the probable pain points for both sides, market offers and sales prospects are developed. CMO advantage: The takeaway for the CMO in this step is that customer value proposition can be created with better customer-centric focus.

7. Perceived Value Perceived value is the personal quantification of customers, of a service or product of a brand. Although the customers may not know the cost spent on the production of the product, they assume a price that they think is worth for the product. Perceived value helps brands revisit and evaluate the product they had creative for future betterments. The CVM platform can help create digital campaigns to record their unaddressed needs and what they perceive as value. With the prior data already retrieved from the customers’ history, perceived value can be better understood to develop products and services that provide holistic value.

8. Perceived Value (Con..) Feedbacks can also be utilized through online forms and other forums, facilitated by Xerago’s seamless omnichannel platform. CMO advantage: This helps the CMO create marketing propositions based on customer value and edge competitors by paying attention not only on the product cost and monetary values.

9. Dynamic needs of customers What seems to be of great value for one customer could seem irrelevant to the other. Also, customer requirements constantly change in time. So, the brands have to evolve along with the customers, to keep tabs consistently and understand their requirements. For this, a real-time cloud platform comes in really handy. The Customer Value Maximization platform help create customer personas based on their consumer behavior with the brand. Using a real-time and fact-based algorithm, the platform updates the customer preferences when their shopping behavior changes.

10. Dynamic needs of customers (Con..) It assists in ruling out the error of judgement regarding customers’ preferences. The brand can now make sure that volatile and dynamic needs of customers are met. CMO advantage: Apart from the real-time experience, the Xerago CVM platform also uses a predictive algorithm to anticipate changes in customer behavior and product preferences. This garners the CMO with customer value, and loyalty for the seamless service provided before-hand.

11. conclusion A holistic approach to marketing is where there is enough room to exchange value with the customers – deriving and delivering customer value. Xerago’s CVM platform is replete with all the necessary tools to enhance customer relationship, by providing your customers a fluid experience, satisfaction and value. Schedule a Demo with Xerago's CVM Platform to gift your brand customer value and customer loyalty, all the while making your customer win.