When you own a business, you want it to grow and thrive. You want it to succeed so that you can make money and perhaps even retire early and allow someone else to take over the reins. Before that can happen, however, there is a lot of hard work to do.
One job that is essential if you want to be able to create a business that will one day work without you needing to be at the helm at all times is to create added value. This will gain you more customers and sales, but it will also put you ahead of the competition. Here are some ways to add that value to your business.
In the past, people were more than happy to wait for their goods to be delivered. They might wait a week, even two, secure in the knowledge that the cogs of business and delivery move slowly. This is no longer the case, and when someone orders something from a business, whether online, over the phone, or in person, they expect it sooner rather than later, usually within 24 hours. If you can ensure that your business can be fast like your customers want, you will stand out.
If you can be fast and not ask them to pay for it, by not adding extra costs for next day delivery, for example, then that is even better. Customers will see this as an added value to already excellent service. For a customer, there is a direct relationship between the speed of delivery and the quality of your service, and perhaps even the goods themselves. It is important to get this right.
Maintain Good Quality
Sometimes it’s not possible to beat your competitors on price – you do have to make a profit, after all. If this is the case then you will need to give your customers added value; they will pay the same price, or perhaps a little more to you as they would to your competitors. Because the perceived quality of the goods they are receiving in return is better, they won’t mind. In fact, they will even be pleased to.
Quality is whatever the customer thinks it is. Conducting some market research first to find out what quality means to the people you are selling your products to is a great way to make sure you are giving them what they want. Quality won’t necessarily mean greater durability or a better design, although it can certainly mean these things, of course. Quality simply means that someone is able to use the item as they want to use it for as long as they want to use it.
One aspect of adding value to your business is to ensure you are always available. Being responsive to emails and messages or comments on social media, as well as answering the telephone quickly when it rings, can all make your business seem much better than your competitors. It is these small acts that mean you are adding value to your business by simply doing something that you would be doing anyway.
Of course, you won’t always be available to answer the phone or reply to emails, but if you can include a chatbot on your website, for example, or you can create an app that allows customers to get the answers they need. You can learn more about app creation here. Implementing these strategies could help hugely, ensuring that your customers feel that you are an extremely responsive company, even if you aren’t available 24/7.
Make Things Better
Whatever you’re doing, whatever your company is selling or offering, always strive to make elements better. This will give you added value. You might, for instance, design more attractive packaging, or packaging that is especially environmentally friendly. You could add discount coupons to every order, or you could send emails on your customer’s birthdays to wish them a lovely day. These all give a great impression of your business, and they add value too.
Whatever it is you are able to add value to, it will make you stand out against your competitors and show customers, and potential customers also, why you are the person they should be coming to, rather than anyone else. They know that if they buy from you, they will get something different, something special, and something more than they would get anywhere else.
People love convenience, and will often choose a company due to this factor over and above other considerations. If you can make yourself more convenient, then you will be adding value. As a net result of this, more customers will use your service. You can add convenience by staying open longer if you are a physical store, for instance, so that customer who is at work can shop afterward and not feel rushed because you are hoping to close up soon.
You can also add convenience simply by opening a store in the first place. If there is nowhere else nearby that can offer what you do, then opening your store will give them what they want nearer to home, and they will certainly come to you instead of anyone else. Doing your research here, again, will most certainly help in terms of working out what you can offer that other company cannot.
Have Excellent Customer Service
Something that can often be forgotten when trying to think of ways to add value to a company is the customer service aspect. Good customer service, as well as a good product, can make all the difference. Being warm and friendly, greeting people as they enter the store, enjoying a short conversation with them as they check out, and generally being as helpful as possible will make the experience of shopping at your store so much better.
If you are an online service, you can still offer excellent customer service. Send follow up emails to ensure that the goods arrive on time and that the customer was happy with them, for example, or add a handwritten note to each order saying how pleased you are to serve them.
By implementing these simple strategies, you can be one step closer to giving your business added value. Taking time to do your research can be worth it in the long run, and you may see results sooner than you think.