What is a value?
Talking in terms of business, the value is the money that a person is willing to pay for a product or service that a company is providing. To put it in other words, it is the worth that you get from you customers.
When the customers are happy with your service and the quality of your products, they will be ready to pay more to get your product and services. You would pay more for an iPhone as they have a known reputation and their customer service is good. To put it straight, when a company works on its customer’s satisfaction, they are building their value.
Frequently asked questions
What is value?
This value can be financial or emotional. Financial is money that a person is willing to pay for a product or service that your company provides. Emotional value can be all positive experiences that result from using a specific product or service.
How important is company value?
Goodwill is important because first, customers are willing to pay more for valuable products and services. On the other hand, thanks to value, agents are closer to the company and want to do their jobs better.
What is the best way to build a company’s value through customer service and customer support?
The best way to build goodwill is to present it in all messages coming out of the company. To construct this, you can ask customers why they buy about you, and gather feedback from them. Thanks to this, you can easily present the company's value.
- What is Customer Value and How do You Create It? (+Benefits)
- What Makes Great Customer Service? (+Examples)
- Why invest in Customer support & Loyalty Initiatives?
- Customer Satisfaction Goals and Best Practices (Explained)
- Competitive Advantage (Explained)
- Research - LiveAgent
- Customer Satisfaction Score (Explained)
- What is Customer Centric Culture? (Strategies and Examples)