CX VALUE
A consistent and satisfying brand perception increases engagement and conversion, and fosters the value customers willing to pay through their consuming lifetime for their product and brand experience.
A strong brand represents a higher perceived value and influences the decision and choice over other products and services, and this is also how brands help consumers to distinguish between different market offers.
A consistent and satisfying brand perception increases engagement and conversion, and fosters the value customers willing to pay through their consuming lifetime for their product and brand experience.
A strong brand represents a higher perceived value and influences the decision and choice over other products and services, and this is also how brands help consumers to distinguish between different market offers.
The way a product, a company, or even a person is perceived is summarized by the brand. It is shaped by people’s perception and opinion, hence it is not directly controllable, and that is the reason why each and every experience with your brand are key.
A stronger brand increases competitive advantage not only by making your offer the top choice, but also by creating trust and credibility for customers triggering loyalty. This is what we call in CRM Customer Lifetime Value (CLV).
The more customers we recruit with a higher purchase intent, the more they promote and advocate our brand to their potential buyers, the more they purchase at a higher price for a longer period (lifetime), the higher value they represent for us. We calculate customer lifetime value as follows: CLV = average purchase frequency x average purchase value x average consuming lifetime x average profit margin