If you want your business to become wealthy, you will need to look for different ways to add value to everything you do in your company, especially to your products and services.
You are competing in a highly competitive market, and if everyone is offering the same thing, then these products or services become the standard in the marketplace. So, the question is how customers can recognize the value in such a situation.
If you want to stand out as a business, you will need to have “extra” things in whatever you are doing so that your customer recognize your business and your offer as more superior compared to your competitors.
1. Offer Better Quality to Your Customers
The first important element you need to ensure if you want to add more value to your products and services is to offer better quality than your competitors at the same price or different reasonable price.
Quality is how your customers perceive the value of your products and service.
As you can see, the value is directly connected to the quality of your products and services. So, whatever the customer says that the quality is, it is that.
You need to find what your customer wants and give what they want faster than your competitors.
Think about these questions:
- What problems your products and services are solving for your customers?
- How your products and services solve your customer’s problems?
- Are they satisfied with the solution you offer them?
- Is there something more as a value that they want from your products and services?
2. Increase your delivery speed.
You can add more value if you increase the delivery speed of value that you deliver to your customers, and they are willing to pay for.
There is a direct positive correlation between speed and the value of your offer. When a person decides to buy something from you, she is expecting to get it, not today, but yesterday. You need to remember this.
Delivery speed is an important part of the value you are delivering to your customers today. On the other side, you don’t need big investments to increase your delivery speed. You will only need well-organized logistics systems and processes.
Increasing delivery speed, you will not only add more value, but you will differentiate yourself as a reliable person for doing business. As you already know, on time or faster delivery is an essential element for charging the full or maximum price for your value.
Think about following questions:
- How much time my customers wait after they order something from my company?
- Where my company spends the largest time related to the delivery of my products and services?
- What are the biggest reasons for late delivery?
- How can I increase the delivery speed?
3. Provide additional expert advice for your customers.
As you probably know, your total offer is much more than your products or services. You can add more value to your total offer if you provide expert advice to your customers that will enable them smooth installment or use of your product and services. If you want to provide real value, provide a level of advice that is higher, more valuable and sophisticated than what your competitors provide.
My recommendation is to start teaching your customers how to do things they want to know how to do. No matter what it is that they want to do. If you as an entrepreneur have competence as knowledge, skills, and experience, you can add additional value to your customers’ relationship by helping and teaching them how to do something. You will build extraordinary customers experience that will increase the value they perceive related to your company.
If you want to do something related to this value adding activity, please consider following questions:
- Who are my customers? What do they want? What do they need?
- What is my expertise that can help to y customers?
- How can I teach my customers with my expertise?
4. Improve your product’s design and packaging
You can add more value to your products or services by improving their packaging or design. Beautiful design of your products or their packaging will create additional perceived value in the eyes of your customers.
I can not forget the moment when I first receive an Apple product and the feeling of importance their package was giving to me. The same thing was with all next products I bought from Apple. I can not compare these packages with any other product I bought in the past. You can experience the difference only with one touch.
Your customers the first thing that they see and feel is the packaging and design of your product they are interested in. When they have a choice to chose from different products on the shelf, the packaging is something that will make a difference in their subconscious mind. So, it will impact on them in their decision related to purchasing. Your product’s design and the package should be attractive and informative enough to help your customers to decide to buy them.
If you want to add additional value to your products and services, you will need to think more about design and packaging.
- Do I understand the meaning of simplicity mainly related to my product design and packaging?
- Is there some legislation that impacts on how my products are designed and packed?
- Can I go green when it comes to packaging and design?
- What do my current customers think about the design and packaging of my products?
- Are my design and packaging sending the real message to my customers?
- What can I improve when it comes to the product’s design and packaging?
5. Add simplicity to every possible customer’s interaction with your company.
Try to find the ways to simplify the methods how your products and services can be used. But, also think about simplicity in each possible interaction that your customers will have with your company.
The simplicity will need to start from your lead generation process to the after sales support processes. Simplicity can become an enormous source of added value for your company. Simply, if you have more steps in your sales process, you will realize fewer sales.
For example, when new customers come into your sales funnel as a customer, you can help them to ensure better utilization of your products or services that you sell them.
Answer following questions that will help you to simplify your interactions with your customers:
- What are my processes that participate in all possible customer’s interaction?
- What are the steps or activities inside those processes?
- What customers need to do in those processes?
- What can be thrown away without losing the value of your interaction?
- What can be improved to simplify the whole process?
6. Improve Customer Service
Customer service is essential when you want to add more value to your products and services. Many companies are using customer service as a primary source of competitive advantage in a fast changing marketplace.
A quality product or service is only the half way of encouraging customers to do a business with you. So, how you can ensure that they will choose to do business with you over the hundreds of other offers to them for something similar with lesser prices?
The answer is simple: with your customer service.
You can make high differentiation not only by providing the best services to your customers but also by adding different levels of service based upon your customer’s size, buying frequency or amount of money they spend in your business.
For example, you can have various levels of service when customers qualify for. This is tied into the concept that the more someone buys from you, the more valuable service and benefits they receive.
You can simply provide additional services based on customer’s level of purchase, more sophisticated level of service or dedicated personnel, that brings them a greater opportunity to be treated better than other customers.
When it comes to dedicated personnel, this is a great opportunity especially if you have a technical product or service or something that will require additional support. With such an addition, you add value simply by assigning dedicated people to handle your customer’s installment problems personally.
Think about following questions before you start redesigning or introducing additional customers services:
- What I currently offer as additional customers services to my customers before, during the purchase process and after purchasing?
- What do my customers want as additional customers services that I can offer to them?
- What do I need to do to improve my customer services?
You can apply these strategies in your day-to-day business activities. You need to be creative and to innovate if you want to outperform your competitors. Understand that if you continue to work in the way you always work, you will face with competitors that will these ideas and put them into place. So, simply do it before they do it! And again repeat them all to improve how you do business.