From the course: Customer Service: Creating Customer Value

What is customer value?

From the course: Customer Service: Creating Customer Value

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What is customer value?

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- If you're in business and you hear someone say customer value, what comes to mind? Is it simply the number of dollars spent by a customer or is there more to it? What does it mean? Are we talking about the value of a customer or giving value to a customer? Here's the thing. It's both. In this course, we'll cover customer value from the perspective of a customer and from the business. So we know a customer has value if they spend money with our business but what other ways does a customer give value? Is a referral worth something to your business, meaning someone took the time to tell someone else about your business and in turn it drove more sales to your business? I think so. Or what about a testimonial? A customer has taken the time to write something positive about their experience and share it with the world on social media or popular review websites. Is there value in that? Of course there is. These are indicators of customer value. And yet they're not often considered in a discussion on customer value. Hi, I'm Noah Fleming and I've been helping companies with two million to over two billion in annual revenues create long-term, sustainable, and highly profitable customer relationships over the past 10 years. In this course, you'll learn why customer value is more than just dollars spent. You'll see why customer value is something you give and it's also something you receive. You provide value to a customer and in turn your business gets value back from the customer. You'll discover new ways of thinking about your business and how to develop a strategy that gives your business a competitive edge by increasing the overall customer value that you deliver and that you receive. Let's get started.

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