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Consumers need to be shown that something is good value by comparison, this can be done by developing strong Value-Added Propositions.
We can add value to our services without adding anything physically to what we are selling. The perception of value is created through different things such as – decent service and also the way we present our products or packages. You can add value by creating a strong relationship with your customer, so you become more of a critical friend. It costs us very little and yet many companies ruin relationships and have to sell all the harder as a result.
We can also increase value by helping our clients save money in other areas, or at the very least, point out where you offer value compared to competitors, which could be linked to your package, price or your ease of access. Think about how this translates online. Any product or service that is bought online, saves the customer from venturing outside their door, saving time and money, so why do we offer discounts as well? Of course, digital business is the order of the day in a Coronavirus world, but you should point this saving out in the right way and at the right time.
Value for money is entirely subjective – and will be perceived differently by each individual. We often hear the phrase ‘passing the value on to the customer’ without really knowing what it means. It is marketing speak, of course. It means either they are justifying a bigger discount or showing you what ‘Value for Money’ is being offered.
Consumers need to be shown that something is good value by comparison, this can be done by developing strong Value-Added Propositions.
For example, an advert may list ten ‘bullet points’ about a product. If we take these facts, and translate them into what they mean to the customer, the selling proposition becomes more powerful.
Air conditioning for your car does not translate as ‘enjoy a cooler drive’ – the true advantage is ‘you and your family remain cooler over long journeys, so you enjoy the journey more, have less complaints from children and arrive fresh and awake.’ This may sound like we are spelling it out, but in this time of hardship, buying decisions are made on quite literal translations from facts, into advantages. If we train our salespeople, customer service teams and their managers to understand this and speak with engaging language to potential clients, then the perception of adding value becomes a reality, even though we are giving away nothing more than we already did.
Ask Yourself:
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Written By: Jeremy Blake Source: Reality Training
