Donna Marie Thompson, CEO of Expert Profit Solutions Relayed Four Quantitative Measures of Customer Value for Small Business Owners on Huffington Post
Washington, DC, December 30, 2013 --(PR.com
)-- In her Huffington Post blog, Donna Marie Thompson, CEO of Expert Profit Solutions explained: “All growing businesses monitor performance indicators in some fashion. These indicators range all the way from the simple to the complex. Yet many measures provide no visibility whatsoever into one of the most important indicators of the health of your business, namely customer value as defined in the eyes of your best customers.”
Dr. Thompson continued: “Four quantitative measures of customer value can change your business for the better, boost your profits to the bottom line, and increase your business success. The most basic measure is Repeat Purchases. At the simplest level repeat purchases show that your customers are voting with their wallets. Your customers are satisfied to the point that they will buy your products and services either out of need or want.”
“The second level indicator of customer value goes beyond purchasing your products where your customer agrees to go on the record noting their satisfaction with your products and services to your prospects with Testimonials and References. In a testimonial, they agree to have their name and company associated with yours in your marketing materials and sales promotion activities. Many customers may also be willing to give you a strong reference when new customers are considering a purchase. These interactions are invaluable to the growth of your business and can guide everything you do,” declared Dr. Thompson.
“The third level indicator of customer value is a referral. In this case your customer goes out on a veritable limb and actually recommends your products and services to someone in their network. Their reputation is now on the line with yours. At this point your customer strongly believes that you provide real-world solutions for not only their company but you will for their colleague's as well,” elaborated Dr. Thompson.
“And the fourth and final indicator of customer value is a partnership arrangement where your client can be an affiliate in a single transaction, a one-time cooperative effort, or a joint venture opportunity legally drawn up for multiple transactions and multiple opportunities over time. Develop a strategy involving one or more of these four measures then make solid investments in delivering exceptional customer value in your business,” concluded Dr. Thompson.
Check out the blog and leave a comment at: http://www.huffingtonpost.com/donna-marie-thompson/four-quantitative-measure_b_4481273.html
Donna Marie Thompson, PhD is an acclaimed platform and cruise ship speaker, a two-time best-selling author, and a former Director at PricewaterhouseCoopers Consulting. She is a small business profitability specialist who created The Profit PyramidTM and runs 4-week mastermind training programs for successful small business owners and entrepreneurs. Apply now to be considered if you run a profitable small business under $5 million in revenues.
Check out for Donna Marie Thompson's new book "Peak Profit Potential" that was endorsed by Brian Tracy and offering a downloadable bonus by Jack Canfield on amazon at: http://www.amazon.com/Peak-Profit-Potential-Program-Business/dp/1936621053/ref=sr_1_3?s=books&ie=UTF8&qid=1387047705&sr=1-3&keywords=donna+marie+thompson
And get your own copy of the free Special Report "3 Profit Pitfalls and How to Avoid Them" at http://www.ExpertProfitSolutions.com