Running your own business isn’t always all about what you want to do; sometimes (most of the time) it’s about what your customers want, which means that you need to work out how to give them everything they need in such a way that they will return time and again. Offering something of added value, whether online or in a physical store, is one way to do that.
Giving your customers added value will be hard work initially, but once you have done it (and you have systems in place to allow you to continue to do it) you will make more money, have better profits, and your business will thrive because of it. Not only that, but you will be ahead of your competition, which is always a good thing. Take a look at the following ways of adding value to your business and see which ones you can implement.
Quick And Efficient
It used to be the case that people were happy to wait for whatever it was they had ordered. It could take weeks, perhaps even months, for their purchase to be ready and for it to be dispatched. Today, no one wants to wait that long – no one really wants to wait at all. Therefore, when someone orders something from you, whether it’s a product or a service, they expect it as soon as possible. Some even require it on the same day, and most would prefer next day delivery where they can get it. If you can promise that you will deliver on the next working day, your business will stand out and you will find that more people choose to use your services.
What will really add value for your customers is getting this speedy service without having to pay for it. Whereas some companies will charge for next day delivery, you could take on those costs yourself. Although it would be a higher initial cost, over time you will find more customers so it would be canceled out. It’s important to do this because you are equating your business with efficient, inexpensive service.
The Best Quality
It’s not always possible to beat your competitors when it comes to pricing; if you start to price your goods too low, you will stop making a profit (and you might even make a loss). So if you can’t stand out due to your pricing, you will need to look at other ways to do it and the best way is to provide items or services that are of exceptional quality. If you do this, the higher price won’t matter because people will be willing to pay for something that is above average.
Remember that determining something’s quality is all down to the customer; if something is of high quality it is because the customer believes it to be do. Therefore, you will need to carry out market research to work out what it is that your customers want (and need).
Give Them A Gift
Everyone loves a free gift and if that gift happens to be able to do some advertising for you at the same time, then it is doubly useful. You don’t have to give something away to every customer who buys something from you, but if you choose to give, for example, iPhone cases to the customers who spend the most with you, or who refer their friends, or even who write a glowing testimonial, then they are going to receive even more value for money. This will go a long way and although you will need to spend at first, the return you get on this kind of investment should be excellent, and well worth the initial cost.
Choose something that has your name and logo on it, and the more the gift is used, the more your name will be noticed. This adds value to the process for you too, which will help you with lowering your marketing costs.
If you can be available as much of the time as possible, you are automatically offering your customers even more added value. You will need to be as responsive to emails as possible, and reply to comments on social media as quickly as you can. Answer the telephone within two or three rings and this will all ensure that your business appears to put the customer first. These may only be small acts when you look at the big picture, but these are the ones that can make the biggest difference.
Of course, you can’t possibly be around 24 hours a day to answer emails and comments quickly, and this is where you can utilize new technology to your advantage. You could include a chat bot on your website so that questions can be answered at all times of the day and night, or you could make an app that is intuitive and allows customers to work through the process without having to get in touch in the first place (another bonus for them).
Added value comes in many forms, and one of those forms is being able to fix problems when they occur. No one is perfect, and issues will arise through no one’s fault (or sometimes a genuine mistake has occurred). What the problem is is far less important than how it is solved and what happens afterwards.
Every company is going to work hard towards fixing any problems that occur, but will every company offer something to any customer who has been inconvenienced by the problem? The answer is probably not, but you can and that will make you stand out and give your customers added value. You could give them a discount on their next purchase, or coupons that they can use or give away to their friends, for example. You might go even further and ask them to come in to take a look around your workspace to see how things are done, if that is something that would interest them.