Building Value Through Marketing by Sugai Philip;
Author:Sugai, Philip;
Language: eng
Format: epub
Publisher: Taylor & Francis Group
Published: 2021-08-15T00:00:00+00:00
Building positive experiences beyond loyalty
Value, as we’ve discussed repeatedly, is created from real experiences. The overall value equation can be positive or negative based on each individual customer’s calculation of benefits and costs of using your [S] Product over all other options. Each experience related to your [S] Product leads to a recalculation of value, and this is why so many companies have become so focused on customer loyalty or Net Promoter Scores over the years.
The idea of a Net Promoter Score was first championed by Fred Reichheld in his highly cited Harvard Business Review article, “The One Number You Need to Grow.”1 Basically, Net Promoter Score is that “one number,” and it is measured by asking customers to rate a company or its products on a 10-point scale related to the question of how likely they are to recommend that product, service or company to a friend or relative. The thinking behind Net Promoter Score or NPS has been widely adopted by executives and their companies globally.
While this is definitely a valuable tool to understand where your products or company stand in relation to others in the market or industry, one major drawback of NPS calculations is that they have the potential to draw your attention away from this key issue of the experiences that are flowing from or within these ratings. Positive experiences lead to loyalty and positive recommendations. But loyalty and recommendations can also be manipulated to occur without positive experiences.
This is why this book includes Service Flow as its own separate building block. My goal in doing this is to help you to look beyond touchpoints, loyalty numbers, net promoter scores or whatever other concepts or calculations you and your company are using to document the points of experience between your company and your customers and instead to focus on the essential aspects of these experiences themselves. To do so, it will be vital for you to map out the entire lifecycle of a product or service, something that customer experience designers call “the customer journey.” As customers move from first becoming aware of your product or service through to purchasing and becoming an advocate, there are a series of interactions that they will have with both the product and your company. They’ll also come into direct contact with many or all of the other members of the value system (Building Block #8) that you’ve put in place. A customer journey map outlines all of these interactions, and value-focused marketers are making sure that they have adequately implemented value-creating experiences across this entire journey.
Ultimately then, to create positive value, you must create positive experiences across the entire lifecycle of a product or service. Zappos’s Tony Hsieh has famously focused on “Delivering WOW” across this entire customer journey, creating positive value not only for customers but also for employees and a number of value system partners.2 By analyzing the entire customer journey as well as the lifecycle of the products and services you make and making sure
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