It might be counterintuitive, but price is often not a significant factor to your very best customers. Creating value around your brand and providing great customer service actually tend to be more influential on whether or not people remain customers or decide to go elsewhere.
Creating a positive customer experience can yield more positive results for your business than simply adjusting prices, because the customers you value most will be the ones to stick around for the long term. One study found that 87% of customers felt that brands need to put more effort into their customer experience, showing that it’s an area that businesses can improve upon before they start slashing prices.