Customer Value: The Path to Exceptional Service and Long-term Profitability
The level of service is largely dependent on the value, or potential future value, of the customer. The higher this value, the greater the incentive to provide an excellent customer experience. It should also be recognized that even customers with small pockets may grow to have deeper pockets and be more valuable to the organization.
Also important is the fact that over a customer's lifetime, small transactions may add up to a large amount of money; e.g., a weekly purchase of $10 over 20 years adds up to more than $10,400. The key aspect is for the organization to produce an honest profit in its dealings with its customers.