Jermaine Edwards explains the value saturation effect: customers perceive less value over time without new improvements or engagement. He recommends forming internal customer teams to map the journey, identify next steps, and remove barriers at each stage to sustain perceived value and encourage repeat business.
Chapters
Hey, it's Jermaine Edwards, your customer growth guide, and I want to speak with you about the value saturation effect. Hey, welcome back to the channel. If you're new, welcome. If you're old, hey, even better, welcome back to the fold. I'm going to speak with you about the value saturation effect and its importance and its power in helping you change the perception and value of your products to your customers. Before I do, I need you to like and subscribe so you can get those notifications from me every Monday and Wednesday to significantly grow your customer relationships. Now let me talk to you about what the value saturation effect actually is. Well, it's all about the perceived value of your customer, of your product, over time, where no advancements, improvements or engagements have met their expectation. And so as your customers come into your business, as they purchase a product and service, as they integrate it, as they use it, and then get to repurchase, during that journey, they're gonna have a range of different experiences that will impact how valuable they see and perceive your product and service. And so the value saturation effect is a curve that shows you the impact areas of where you need to make sure either improvements, enhancements, or engagements are being made a priority for that customer. So how can we make this much more important as we think about the journey of the customer? Well, for you, you might not have necessarily complete control over every single step in a customer's journey. However, you can be an influencer inside your organization. You can illuminate that to your business, form customer parties within your actual organization. What we mean by parties is not necessarily an actual party where you're drinking, drinking booze and having snacks. I'm talking about an actual team that comes together, a customer team, to think about the customer journey and where the customer might need to see improvements, enhancements, and engagements to ensure that they've made the right decision. You're reinforcing the relationship, the perception of value. You're reshaping the relationships throughout the journey. So as they experience your product, as they use it, they're gonna feel much more confident and much more assured over the long-term benefit of the product, but also the long-term commitment to you and your organization as a relationship, as a key relationship to them. So I'm gonna give you just one idea right now that you can just apply thinking about the value saturation effect. Apart from Teams, which is really important, You need to communicate. But the one thing that you can do right now is to ensure that you understand the natural next step for the customer. At every single stage, what are those specific things that they need to do in order for them to get maximum value and results from your product or service? What are the things that might get in the way of that customer really getting the full experience an ROI, return on investment, for what they've actually made. If you can understand those specific steps throughout the journey of when they purchase, when they integrate, when they use it, and when they're about to reuse or repurchase the product or service, and if you can map that out, understand what are the needs, fears, goals, desires, the things in the way, what are those things we need to consider, you can design the experience so you don't have that result of a customer saying, "I don't get it. I don't feel this is valuable for me anymore," or, "I don't think we want to continue the relationship." Nobody wants to have put in the investment with the customer only 6 months later for them to say, "Hey, I don't think this is worth my time." You don't have to experience that if you're willing to put in the effort and work to think about the customer journey. So that's an exercise for you. Get those teams and think about the natural next step for the customer that helps them get maximum value from your business, and you'll be assured not to have the impact of the value saturation effect on your organization. So down below, you can get a PDF with more ideas for you to execute and get the value from understanding the value saturation effect. Remember to get notifications Monday and Wednesday, and I will see you in the next video.
