5 Steps to Creating More Customer Value

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5 Steps to Creating More Customer Value
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Creation of customer value is very often
overlooked, mainly because it is not tangible,
but the fact is delivering greater customer value
ensures your business alive. In return for the
values, the customers offer money and loyalty to
the companies.
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What is a customer value?

• Every day, the consumers make buying decisions,
  be it a coffee or Smartphone. In each and every
  decision, the consumers question is the same,
  Will I get a worthy product for the money I pay
  for? A customer value is the gain obtained by
  the consumer, against the cost he pays.
• Each consumer is different and packed with
  various needs and resources. Therefore, no two
  customers can tag the same value to a product.

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Identifying customer segments

• Identifying and categorizing customers with the
  help of Big Data analysis through a well designed
  CVM can create greater customer value, when
  compared to the competitors. Depending upon
  various factors like geographic proximity,
  friendly customer service, affordable charges,
  parking facilities, a range of products, etc., a
  customer value is determined.

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Understand the motives

• A regular conversation with the customers helps
  to understand their motives, actions and
  reactions. In other words, make use of automatic
  CVM software that capture and synthesize data,
  which explicitly exhibit the opportunities to
  help their needs. We should remember that the
  customers are the source of current profitability
  and the foundation for the growth in the future.
  Create new values that can last longer for a
  business to behold any economical calamities.
  Whenever possible, lower the profit and
  deliver more value.

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Creating better value

• While the creation of more value speaks for the
  quantitative value, better value stands for
  expanding the existing value. Increase the
  intangible value by changing the intensity,
  application or impact of your campaigns. In other
  words, deliver a powerful punch and trigger the
  current value to influence the customers.
• Changing the messages of communication, modes of
  communication etc., can be beneficial to create
  better value. For example, the Xeragos CVM
  platform has an increasing impact on the
  customer value with multi-channel dialogue boxes.
  Understand the usage and factors behind the
  needs of the customers, with the help
  of an intelligently captured data
  and make informed decisions.

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Understand the value proposition

• To understand the value proposition, find the
  different benefits delivered to the customers and
  the amount collected from the consumer. This may
  vary according to the customer segment and how
  they perceive things. Create a win-win strategy,
  which maximizes the profitability. As the high
  profitability customers do not hesitate to pay
  the additional amount, intimate the new offers,
  events, contests, etc.

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Investment for customers

• The capital investments for adding business value
  may be the trend in the CVM industry, but the
  Xeragos CVM platform does not require any
  additional capital rather the users pay only for
  the usage, as the software is available on the
  cloud.

Whenever possible, add service to the work, which
automatically improves the ability to deliver
more customer values.
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Content Credits

• Xerago Customer Value Maximization Company
• HTTPS//WWW.XERAGO.COM
• Xerago is a multi-national Customer Value
  Maximization company with offices in San
  Francisco Bay Area, Singapore, Hong Kong, Dubai,
  and India. Xerago works with organizations where
  customer revenues are spread over the lifetime of
  the relationship, such as Retail Banks,
  Insurance, Telco, Retailers, Ecommerce,
  Hospitality and High Technology companies, to
  name a few.
• Xerago's mission is to help organizations drive
  continuous, ongoing value from their customers.
  We call this Customer Value Maximization.