HOW TO ADD VALUE TO YOUR BUSINESS
Value (a fair return in goods, services, or money for something exchanged) is what will keep you outstanding in today’s competitive world. As Jim Rohn once said “We get paid for bringing value to the marketplace”. Therefore, the more value you add, the more profit you get, being it business, job, or craft. Once I learned about this I have kept on increasing more value to myself (personal development) and to my business. And it pays me off big time.
In customer service, for example, it is always important to out-think rather than outspend the competition. One of the best ways to do this is to add value to the experience you create for your customers without spending too much in the process.
Related: 7 Keys to Excellent Customer Service
Value can be added by following 6 simple principles:
This is about quantity; it means giving your customers more of what they want especially if it doesn’t cost too much to provide it. For example, I love salads, and every morning, on the way to my office I usually pass by a certain super market at Oysterbay Shopping center for to buy my salad. One of the reasons that kept me going the same place is due to their royalty card system that if you purchase 9 bowls of salads the 10th one you get it for free.
This is about quality; you can create the perception of better quality in your business through aesthetics or appearances. If you are owning a shop or restaurant, for example, how do your employees appear (in terms of their uniforms) how do you package your products? I like the way Apple Computers are packaged, even if they seems expensive but once you see that box you have the feelings that the product inside is worthy your money.
In personal life, how do you package yourself? Your mind, spirit and body. Les Brown says “Dress Like a Prospect not like a Suspect“. You can simply add value by keep on improving on the quality of products or services your offer.
Customers don’t have any time to waste. If you are able to provide consistently reliable and speedy services, your customers will have more trust in your business and you will develop an excellent reputation hence more value. An excellent example is Domino Pizzas, an American pizza delivery service that delivers hot pizzas in thirty minutes or less. They are renowned for their fast and reliable services.
This is about doing something different or novel (new). Customers are always drawn to unique products that are distinct from anything else on the market. This is why in Tanzania, network service providers are scrambling to offer their customers 4G internet, a relatively new and much faster internet service in East Africa because 4G internet is miles ahead of anything else currently in the telecom market and increases more value to the end user.
Adding fun to the equation is very important because it allows your customers to relax and enjoy themselves and gives them the opportunity to unwind. This is why most of the beach hotels in Tanzania now have water parks which have proven to be very popular with kids. They add value to their services by providing their patrons with several fun options.