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Memecast #50: Loyal Customers

Memecast #50: Loyal Customers

FromImpact Pricing


Memecast #50: Loyal Customers

FromImpact Pricing

ratings:
Length:
2 minutes
Released:
Mar 23, 2022
Format:
Podcast episode

Description

The whole point of pricing, value-based pricing, is to charge what customers are willing to pay. And almost by definition, loyal customers like us more, they would be willing to pay us more. This is the big exception to the rule of charge what a customer is willing to pay. My intent when I do price segmentation and charge different customers different prices is I also want to think about the lifetime value of a customer. If you have a customer who loves you, they're very loyal to you, and yet they find out that you are charging them more than anybody else, it will upset them. You have a really high probability of losing them as a customer. And if you do, you lost the lifetime stream of value. So, my advice, treat loyal customers really, really well, and don't charge them more than other people. We hope you enjoyed this memecast. If you have any questions or feedback, please email me mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: Email: mark@impactpricing.com LinkedIn: https://www.linkedin.com/in/stiving/  
Released:
Mar 23, 2022
Format:
Podcast episode

Titles in the series (100)

The Impact Pricing Podcast will help you win more business at higher prices by teaching you about pricing and value. Once you understand how your buyers perceive the value of your product, you can build, market and sell products that win at higher prices. Pricing is really about creating, communicating and capturing value.