If you want your business to become wealthy, you will need to look for different ways to add more 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 significant 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 at a reasonable price.
Quality is how your customers perceive the value of your products and services.
As you can see, the value is directly related 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 customers want and give what they want faster than your competitors.
Questions to Offer Better Quality
Think about these questions:
- What problems are your products and services solving for your customers?
- How do 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?
Remember that you can use the innovation and creativity tool called “jobs to be done” to discover what your customers want to achieve. Also, validate your ideas for better quality to ensure that you will succeed.
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 it.
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 essential to the value you deliver to your customers today. On the other side, you don’t need significant investments to increase your delivery speed. You will only need well-organized logistics systems and processes. Outsource tasks that need expert knowledge, such as IT services.
By increasing delivery speed, you will not only add more value but also 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.
Questions to Increase Delivery Speed to Add More Value to Your Products and Services
Think about the following questions:
- How much time do my customers wait after they order something from my company?
- Where does my company spend the most 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 to 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, enabling them to install or use your product and services smoothly. If you want to deliver real value, provide a level of advice that is higher, more valuable, and sophisticated than what your competitors offer.
I recommend 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, knowledge, skills, and experience, you can add additional value to your customers’ relationships by helping and teaching them how to do something. You will build an extraordinary customer experience that will increase the value they perceive related to your company.
How to Provide Additional Expert Advice
If you want to do something related to this value-adding activity, please consider the following questions:
- Who are my customers? What do they want and need?
- What is my expertise that can help my 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. The 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 received an Apple product and the feeling of the importance of their package being given to me. The same thing was with all the next products I bought from Apple. I can not compare these packages with any other product I purchased in the past. You can experience the difference only with one touch.
The first thing that your customers see and feel is the packaging and design of the product that they are interested in. When they have a choice to choose from different products on the shelf, the packaging is something that will make a difference in their subconscious mind. So, it will impact them in their decision related to purchasing. Your product’s design and the package should be attractive and informative enough to help your customers decide to buy them.
The Design and Packaging of Your Products and Services
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 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 ways to simplify the ways your customers can use your products and services. But, also think about the 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 customers, you can help them to ensure better utilization of the products or services that you sell them.
Simplifying Interactions With Customers to Add More Value to Your Products and Services
Answer the following questions that will help you to simplify your interactions with your customers:
- What are my processes that participate in all possible customer interaction?
- What are the steps or activities of those processes?
- Is there something that 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 For Your Products and Services
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 halfway to encouraging customers to do 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 to lesser prices?
The answer is simple: with your customer service.
How You Can Improve 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 it. This is attached to the concept that the more someone purchases from you, the more valuable service and benefits they receive.
You can simply provide additional services based on the customer’s level of purchase. A more sophisticated level of service or dedicated personnel will bring the 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 extension, you add value simply by assigning dedicated people to handle your customer’s installment problems personally.
Introducing Customers Service to Add More Value
Think about following questions before you start redesigning or introducing additional customers services:
- What I currently offer as additional customer services to my customers before, during the purchase process, and after purchase?
- Is there something specific that my customers want as additional customer services that I can offer to them?
- What do I need to do to improve my customer services?
You can apply these strategies to 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 competitors that will use 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.