The Benefit of Value-Based Relationships
When business is good, it’s hard to imagine that there will come a day when your customers will reconsider your value to them. But a new competitor, a new product, or a better customer experience will give your customers a new set of choices.
How can you ensure that your customers continue to choose you?
People tend to have one of two types of connections with a company—transactional or emotional. The tricky part is determining which type of relationship your customers have with your company.
On the surface, your bottomline may be telling you one story about continued growth, leaving you feeling confident about the future of your business. But, if you dig deeper than just the numbers to understand what your customers truly value about you, do you find the same reasons for that confidence?
Long-term, loyal customers—the kind that pay the premium you ask, stay with you in a competitive market, and happily promote you to their colleagues—become so because they buy into you and what you stand for. They find value in that relationship and have positive associations about being connected to you. People buy what they believe in.
Building a great offering is one thing. But it’s transactional. And at some point, that may put your business at risk. Building a strong brand, however, can leave a compelling impression with your customers. And that’s how you ensure future success.
If you’re looking to market-proof your business, contact us.