What is Customer Loyalty vs. Customer Value? Customer loyalty is a customer’s insistence on a certain brand. Customer value is two-fold: (1) benefits of a brand to a customer and (2) benefits of a customer to a brand.
Value is evaluated by each party and it is relative to alternatives available to each party.
The denominator of value quantifies what is spent, such as money, time, stress, resources, and opportunity costs.
The numerator of value quantifies what is gained, such as solution, interaction, relationship, and opportunities.
Both customer loyalty and customer value should be mutual and nurture seller-buyer relationship strength.
See also: Customer Experience Playbook
This is a glimpse into what you gain from ClearAction Experience Leadership Mastery.
What You Can Do to Master Experience Leadership
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- Enrich your experts’ wisdom in this direction via Experience Leadership for Experts and Executives.
- Redirect your CX/EX/PX strategy to this sensible approach by encouraging all experience managers (customer, employee, partner experience) to learn the full spectrum of skills needed: Foundational, Intermediate, Ongoing.
- Apply ongoing wisdom with your whole department in the Experience Value Exchange.
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