Beyond the Product: 9 Ways To Add Value to Your Service
It’s not just about growing your business to hit targets anymore. As we build up a company, we have to remember that in the modern marketplace, so many services and products are viewed as a commodity, the importance of adding value to it is not just something we need to pay mere lip service to. It is an absolute necessity. When you add value to a product or service, this will drive your business in the right direction. The fact is that many businesses are focused purely on the price, but when you are selling an item for a specific price, you need to make sure that it is worth the price tag. What are the ways to add value to your product or service?
A High Level of Professionalism
Expertise will always be the number one signifier of value in service. There are a wide variety of businesses that charge a significant sum for their level of advice. In order to provide value, you’ve got to understand that professionalism is higher and more sophisticated than your competitors. When considering the big picture of all your services, transparency is key. These days, many companies focus on outsourcing so many components which can run the risk of undermining the brand. But this is where you can turn the tides in your favor. For example, when you are working to improve aspects of the supply chain, and need the support of a third party logistics provider, they will always ensure that business, brand, and client are seamless. But you’ve got to make sure that you are as transparent as possible. You may have expertise in certain areas, but you may also need help. The fact is that when it comes to the supply chain, it is an invaluable resource to help parts to your business. This doesn’t mean that you are any less professional. Professionalism will always show that you are exuding value.
High Service Levels
Service levels are a great way for you to differentiate yourself from the competition. It’s not just about providing a certain level of service, but incorporating a wide variety of levels based on an individual’s frequency of purchase. Many businesses offer a silver, gold, or platinum level of service based on what they pay for. And this is a great way for you to differentiate between a “fair-weather customer” and one that is dedicated to your brand. When a customer is willing to pay for a platinum level of service, you have to go the extra mile. As these customers will always demand a certain level of service, this is an ideal way for you to add value to your business. These are the customers that will expect you to bend over backward for them, but they are also the ones that will sing your praises in more influential circles.
The Strength of Your Packaging
Packaging is not just about how your product or service looks, but about making sure that the package your customer buys provides added value. When your customer buys a product, they are buying into an ethos or an ideal. By putting a package that appeals to a certain type of customer, you are going to add significant value to your business and improve the experience from the perspective of the customer. This is going to be more valuable than a product just by itself. While we are looking to push products, this is all about the commodity rather than the value.
When customers come to your business, you can sell a product, or you can sell a product and follow up with high-quality aftercare. You may want to provide additional resources to help your customer make the most of the product or service you have sold. The best example of this is in the automotive industry. You can sell a vehicle, but you can also help them to maintain it better, and give them high-quality services to make sure that they are getting the most out of their car. Because we’ve all experienced that used car dealer that is always looking for a quick buck. We can literally buck this trend by giving customers further education and helping them bond with their products and make the most out of them.
Incorporating Higher Quality Products
Going back to the idea of silver, gold, and platinum services, you can do the same with the products. You can add a more sophisticated service level, incorporate more personnel, or install dedicated phone lines. Many insurance providers have a general contact number, but there are also providers who give an extra level of service to those who pay more for their policies. These will give customers a better opportunity to be treated more importantly than a general run-of-the-mill customer. But this doesn’t give you permission to ignore your basic customer roster. You could use this component as an introductory offer to add value to both sides of the equation. This idea of qualitative preference is a great way to get more customers and improve the bottom line, just as long as you invest the returns back into the business.
Improving the Speed of the Service
If you want to make yourself different from your competitors, you’ve got to guarantee quick delivery. Quick deliveries are a vital component to ensuring that you can charge top dollar. The guarantees of companies like Amazon when it comes to next-day delivery means they are confident in their services and adds extra value. It’s very well known that if you want an item delivered on time, you have to pay extra, and if you want to add value to your services, ensuring that you are giving your customers an advantage by being faster than your competitors will inspire allegiance to your brands.
This is a very important component when you are selling technical products. Whether you are selling computers or airplane engine parts, technical items require hands-on 24/7 support. It is far easier to have a customer stay with you when you have expertise guiding them every step of the way. We’ve all had computer issues, and need to speak to an IT department. When we are liaising with a technical specialist, we are always grateful that they are solving our problems, making the fees we pay worthwhile. When you have dedicated personnel, this is an extra layer of hands-on service. It works in the insurance industry, where one individual is classed as a case handler, working through an individual’s claim, ensuring that the customer has a consistent service from beginning to end.
This is something that many businesses do, especially airlines. The more that somebody buys from you, the more value you can add to the service. When somebody flies with a specific airline all the time, they may only stay with them because they want to build up their air miles. And this is no bad thing because if you are able to give them value because of a buyer program offer, they could be a customer for life.
Providing Insider Information
This works very well if you are a very industry-specific organization. When you are selling information, you can utilize this process through something as simple as a regular newsletter. When you are trying to incorporate services that are time-sensitive, inside information will help to speed up the process guaranteeing that your customers are kept abreast of any changes.
Adding value to your business is something you need to focus on. When you grow your business, you must remember that as it begins to expand, the value needs to improve alongside it. By following any of these methods, you can immediately see the benefits. Because if you continue to sell your services in the ways that you always have, focusing on price, but knowing the value behind it, you will see people turn away. Sell items, but make sure they have value.
Categories: Outside Contributors