{"id":54188,"date":"2023-10-11T06:00:02","date_gmt":"2023-10-11T06:00:02","guid":{"rendered":"https:\/\/hyken.com\/?p=54188"},"modified":"2023-12-18T15:51:07","modified_gmt":"2023-12-18T15:51:07","slug":"price-is-only-relevant-in-absence-of-value","status":"publish","type":"post","link":"https:\/\/hyken.com\/customer-service-strategies\/price-is-only-relevant-in-absence-of-value\/","title":{"rendered":"Price Is Only Relevant in the Absence of Value"},"content":{"rendered":"\"priceThe title of this article may sound like a lesson in sales, but it\u2019s much bigger than that. It\u2019s about the entire customer experience. If a promise to provide value in the CX is built into a company\u2019s mission and values statements, it potentially becomes part of the culture.<\/span>\u00a0<\/span>\r\n\r\nImagine if your organization were bold enough to state that the value it delivers to customers would make price irrelevant<\/a>. How do you define that value? It\u2019s simple. It\u2019s the value provided in the customer experience. But, remember that your definition of this value is only good if it aligns with what customers want and hope for.\u00a0<\/span>\u00a0<\/span>\r\n\r\nLet\u2019s talk about making price irrelevant. My good friend and fellow customer experience expert John DiJulius has often said, \u201cMake price irrelevant.\u201d He and I jab at each other over this statement. I\u2019ve said, \u201cMake price less relevant. There\u2019s no way you can make price completely irrelevant.\u201d John knows this, and he admits it, but at the same time, he argues the point that if you provide enough value with the experience, you can distance your company from the competition, even while charging more than others. I can live with that because he\u2019s right. We\u2019re just using different words to get us to the same outcome.<\/span>\u00a0<\/span>\r\n\r\nSo, let\u2019s not get caught up in the semantics of these two sentences. We are both in alignment, and you should be, too.\u00a0<\/span>\u00a0<\/span>\r\n\r\nFurthermore, this way of thinking crosses over to the employee experience (EX). Can you create an employment opportunity so fulfilling that people would line up to apply for the job, even though they might make more elsewhere? There are companies, like Disney, that have achieved that. The Disney culture is so powerful that people love the company more than a higher paycheck from another employer. Of course, every company, Disney included, has to be somewhat competitive with compensation and benefits. But in the end, for many, happiness and fulfillment are more important than a few extra dollars in their paycheck.\u00a0<\/span>\u00a0<\/span>\r\n\r\nLet\u2019s close by considering three ideas:<\/span>\u00a0<\/span>\r\n
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  1. The Alignment: Value in the customer experience and employee experience is non-negotiable. You can\u2019t have one without the other.<\/span><\/li>\r\n \t
  2. The Opportunity: Create experiences that are so enriching that neither customers nor employees can easily walk away, regardless of dollars.<\/span>\u00a0<\/span><\/li>\r\n \t
  3. The Challenge: I challenge you to define your version of value and make it so compelling you\u2019re willing to include it in your mission and value statements.<\/span><\/li>\r\n<\/ol>\r\n