Memecast #50: Loyal Customers

<p>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.</p> <p>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.</p> <p>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.</p> <p>So, my advice, treat loyal customers really, really well, and don't charge them more than other people.</p> <p>We hope you enjoyed this memecast. If you have any questions or feedback, please email me <a href= "mailto:mark@impactpricing.com">mark@impactpricing.com</a>.</p> <p>Now, go make an impact.</p> <p><strong>Connect with Mark Stiving:</strong></p> <ul> <li>Email: mark@impactpricing.com</li> <li>LinkedIn: <a href= "https://www.linkedin.com/in/stiving/">https://www.linkedin.com/in/stiving/</a></li> </ul> <p> </p>