September 07, 2021
Do you want to achieve faster profit growth and grow customer loyalty? Then you need to know what your customers value, and why.
Did you know…
Harvard Business Journal identified 30 factors, called elements of value that explain the “why” behind purchases. The more elements that you provide typically delivers greater the loyalty and better, lasting growth. These elements of value fall into four categories: functional, emotional, life changing and social impact. Consider these elements and categories to identify needs that your product or service fulfills and determine what is most important to your customer.
Elements of Value Categories:
Graphic Source: https://hbr.org/2016/09/the-elements-of-value
Here are some tactics to leverage to help identify the elements that are most valued by your customers and why:
Effective and strategic marketing takes into consideration which elements your particular customers value most and then uses this information to communicate effectively with target audiences, set pricing strategies and develop stronger loyalty programs.
Our team at Flashlight Marketing can help you gain more insight on getting to know your customers and growing your customer loyalty. We can help you understand the WHY and then use those insights to build out a robust marketing strategy that delivers lasting results.
Contact us today to learn more about our services and how we can help you grow customer loyalty faster and smarter.
At Flashlight Marketing, we’re all about helping our clients grow. We use innovative inbound and outbound marketing, advertising, and communication strategies to deliver you the results you need to achieve serious growth. And we have a lot of fun doing it.
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