Customers stand at the heart of your business operations. Each day, you focus on creating innovative ways to attract their attention and transform that attention into sales lead opportunities. You continually work to gain a competitive advantage in your industry that sets your business apart from the crowd. You devise marketing strategies for increasing your brand awareness, maximizing your sales potential and branching out into new market segments within your industry. One strategy you may be overlooking is adding value to the customer experience.
What is Added Value
Added value is the business approach you take that highlights the benefits your product or service offers your target market audience. Your approach needs to be personal and authentic by showcasing the following characteristics.
Each of these personality attributes works to add value to customer interactions with your company. You can determine the price of a product or service by factoring of noneconomical value it will provide your target market audience. When customers find value in the goods and/or services they receive, they make future purchases based on your brand recognition.
Consider for a moment how successful the Nike brand is in the consumer world. When they release a new shoe, consumers race to the nearest store to purchase that shoe whether they have a need for it or not. The consumer responds in that manner just because they know that Nike adds value to the consumer experience.
Providing Added Value
How you go about adding value to your product or service depends on what your target market audience needs the most. Ask yourself what one aspect of customer service that will place you ahead of the competition is the need to be something that no other company in your industry provides to consumers.
Start with convenience and create ways that make it as easy as possible for consumers to engage in business with you. Look for opportunities to take your products or services to consumers instead of making them come to your location. Simplify the purchase process by establishing accounts for return users. Hold customer appreciation sales where you provide rewards and sales discounts to customers for remaining loyal and consistently returning to your business each time they need to make a new purchase.
Taking the opportunity to create added value situations to your business works to establish brand loyalty with your target market audience. Consumers actively interact with businesses that they trust. You can earn their confidence through added value that comes from being unique, personable, innovative in your approach to the products and services you provide and the customers you serve.