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Real value versus perceived value

//Real value versus perceived value

Below follows the equation that most easily defines what the perceived value is:

Perceived value = (Benefits + Emotions) / (Price + Discomfort + Insecurity)

According to surveys conducted by companies about the patient satisfaction index, the minority of patients say that their patient experience exceeded their expectations. This is true even in the most advanced organizations that hold the largest market shares. This indicates that customers/patients merely feel satisfied and can therefore easily be attracted to the competition.

The data of T. Laurence Newell, director of The Friedman Group, is noteworthy. Herein he affirms that 80 percent of the companies believe that they offer an excellent service, yet only eight percent of patients agree.

Current customers are the most difficult to please, are more demanding, more price conscious, less likely to forget and have more offers from the competition. Therefore, having and maintaining loyal customers is a big challenge. Companies committed to customers know that they experience more significant increases in business volume and profits.

The loyalty of the patients must be seen from the perspective of the patients, who also display a variety of significant behaviours. It is therefore vital to establish a strong sense of loyalty within the patient and not merely loyal behaviours.

How to establish a sense of loyalty in the patient?

  1. Increase in the patient’s lifetime value
  2. Increase package sales: Those who buy more than one product or service from the same clinic are more likely to stay in the same
  3. Be less sensitive to the price.
  4. Decrease in costs
  5. Increase in effective recommendations
  6. Consider patient’s suggestions for improving services

The clinics that will survive over time must work continuously to understand the relationship between satisfaction and loyalty for each of their clients.

Fred Reichheld, who after studying various automotive companies, discovered that while 90% of the customers on average declared to be satisfied only 30-40% returned to acquire a product from the same company.

Therefore, fully satisfied customers display much more sincere loyalty than those satisfied merely.

Studies conducted in markets where competition is intense show that there is a big difference between the loyalty of merely satisfied customers and the loyalty of those fully satisfied. In studies conducted in the financial sector, it has been discovered that fully satisfied customers have a 42% chance of being more loyal than merely satisfied.

On the contrary, dissatisfaction leads to disloyalty.

For Thomas O. Jones and W. Earl Sasser, there is a tremendous difference in loyalty between merely satisfied customers and fully satisfied customers.

To achieve the loyalty of customers, we must follow the following stages.

  • Clearly define the target audience
  • Establish an effective patient care protocol
  • Systematically measure their satisfaction

Use several measurement systems:

  • Customer questionnaires
  • Customer reviews and complaints
  • Employee information to stay in contact with the client/patient
  • Fully satisfy customers by offering top quality services and assurance of an excellent recovery process when something goes wrong
2019-01-03T20:23:21+00:00By |Coaching and Leadership|

About the Author:

Director of Dental Focus . Coach certified by the Spanish Association of Executive Coaching (AECOP) and the Spanish Association of Neurolinguistic Programming (AEPNL). More

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