Six Customer Experience Pitfalls to Avoid
To successfully enhance customer experience, companies need to build the right organizational capabilities and culture to plan, execute, and sustain the transformation, as the authors explain.
Netflix’s Clever Price Framing Will Ring The Register On Ad-Supported Plan
Authors: Robert Ribciuc On November 3, Netflix launched a new [...]
Costco Prices: Bargains, Brilliance, and Brand Consistency
Understanding Costco’s messaging code embedded in its price point endings can be dramatically useful for consumers looking for bargains and further inflation-fighting opportunities. For pricers and marketers, it invites admiration and respect for a brand that is immensely successful because it thinks the details through, as the author explains.
Additional Fees: Customer Irritating but Profit Generating
Additional fees can serve a positive business function, and increase profitability, but they can also create unnecessary problems if handled poorly. For executives, it is best to consider additional fees from a clear-eyed perspective rather than gut reactions of recoiling in fear or aggressively fulfilling one’s greed, as the author explains.
Customer Lifetime Value: The Sales and Marketing North Star
Stephan M. Liozu, Ph.D. (sliozu@gmail.com), is the Founder of Value Innoruption Advisors, a consulting boutique specialized in value-based pricing, industrial pricing, digital and subscription-based pricing. He is also an Adjunct Professor & Research Fellow at the Case Western Research University Weatherhead School of Management. He is a Certified Pricing Professional (CPP), a Prosci® certified Change Manager, a certified Price-to- Win instructor, and a Strategyzer Business Model Innovation Coach.
Can You Identify Your Best Customers?
Can you identify your best customers? It sounds like a simple question. You may think, “of course we know who our best customers are!” But what actually constitutes a good customer? Can you articulate it? The very customers who by one metric (returns) would appear to be the worst were actually the most profitable. Conversely, customers that may appear to be your best may actually be hurting your company. How can we tease this out?
Your brand can learn a lot from how MLB changed how it sells tickets
Baseball’s innovations in pricing and selling tickets are pertinent to many industries because they take under-utilized or non-utilized assets based on the understanding of customers’ needs and willingness to pay, plus the contribution margin that comes along with value added services, which creates revenue and profit streams where none existed before, as the author explains.
Are My Customers Lying to Me?
In this article, the author explores best practices for finding out how your customers really feel about your products and services, giving you better information on which to base pricing decisions.