The essence of business is giving value to your customers and getting compensated for it. In the literal sense, without the customer the business might as well be nonexistent. Customer value can be described as the satisfaction anticipated or experienced by the customer by consuming a product or service. Entrepreneurs would benefit from creating a strong value proposition for their customers. Making an effort to increase customer experience and satisfaction will in turn yield customer loyalty, a healthy market share, price advantage, increased profits, reduced errors and increased efficiency. Here are some tips on how you can improve on value addition for customer satisfaction.
Develop memorable customer experience
It is often the unforgettable customer experiences that more people are likely to give positive reviews, and refer to friends. Building a customer experience encourages businesses to develop relationships with their customers allowing for a connection that goes past simply getting the sale. Most importantly, memorable customer experience models aim to deliver the extra intangible value such as personalized service, attention to detail, and showing a sense of urgency to address concerns as they arise.
Make it convenient
With so much change happening in the world, people have grown impatient. “A person who didn’t realize that they wanted your product or service until today, now wants it yesterday. People perceive a direct correlation between speed and the value of your offering.” Dragan Sutevski You are measured by your efficiency and if you mess that up there may be no next time. On top of speed, your products and services need to be accessible. Customers should make minimum effort to access your product or services. If you put your contact number for them to call you should be prepared to answer.
Add more to your offering
“Whether it’s a free guide, a printable PDF, or a company branded calendar, free resources are a great way to create added value and showcase your brand’s ability to offer ‘a little something extra’ to customers.“ Freebies however make more sense when they are consistent with your brand’s overall purpose and complement the service or product. Another way to offer more is to offer skills or expertise like for example a manual on how customers can make use of the product. You can go an extra mile and install the product for them for free if it’s a replacement.
Maintain good quality
Value is directly related to the quality of your products and services and quality is highly determined by the customer. One other way to add value to your customers is by offering better quality than your competitors at the same price. Find out what your competitors are offering and beat that with better quality without increasing the cost to customers. However it is important to avoid compromising quality in an attempt to offer low prices. Customers always want value for their money.
This goes without saying, how you package your goods and services has an effect on how customers perceive it. People go for what is appealing to them at an attractive cost. Entrepreneurs may need to pay attention to how they present their products and services to customers as this becomes their brand and if done well can be a trusted brand.
The late genius, Steve Jobs once said “Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.“ These five tips can help you get ahead of your game and add value to your customers. Happy customers will return and bring more business that translates to growth and profit. Eight2Five Innovation Hub provides a space that can help you add value to your customers through it’s convenient location, and elite environment for a great experience. Enquire with us today and find out how we can help you add value to your customers.