230: Price Myths BUSTED

Summary

In this episode of the Customer Service Revolution podcast, John DiJulius discusses the common misconceptions surrounding pricing and customer retention. He emphasizes that many businesses misdiagnose their issues as pricing problems when, in fact, the root cause often lies in the customer experience. Through various examples and case studies, John illustrates the importance of understanding customer needs, improving service quality, and focusing on key performance indicators to drive business growth. He also highlights the need for leaders to shift their mindset regarding pricing pressures and to prioritize delivering exceptional experiences to their customers.

Takeaways:

• Price is often used as an excuse for business failures.
• Customer experience is crucial for retention and loyalty.
• Many companies misdiagnose retention issues as pricing problems.
• Understanding customer needs goes beyond just asking them.
• Key performance indicators should focus on what truly drives growth.
• The experience provided can justify higher prices.
• Leaders need to shift their mindset about pricing pressures.
• Effective communication with customers is essential for retention.
• Improving service quality can lead to increased sales and customer loyalty.
• Businesses should focus on earned growth rather than bought growth.

Chapters:

00:00Introduction and Personal Updates 02:07Price Myth Busting: Understanding Customer Perception 07:27The Importance of Customer Experience in Retention 12:18Identifying Key Performance Indicators (KPIs) for Success 18:45Value vs. Price: The Customer Experience Perspective 23:44Mindset Shifts for Leaders Facing Pricing Pressure

Links:

Schedule a Complimentary Call with one of our advisors: tdg.click/claudia

Ask John! Submit your questions for John, to be aired on future episode: tdg.click/ask

Customer Experience Executive Academy: https://thedijuliusgroup.com/project/cx-executive-academy/

The DiJulius Group Methdology: https://thedijuliusgroup.com/x-commandment-methodology/

Experience Revolution Membership: https://thedijuliusgroup.com/membership/

Books: https://thedijuliusgroup.com/shop/

Blogs on Price Myths: https://thedijuliusgroup.com/4-price-myth-busters/

Contacts: Lindsey@thedijuliusgroup.com , Claudia@thedijuliusgroup.com

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