Everyday companies are looking for new and innovative strategies able to enhance the sale of their products or services and help them differentiate themselves from the competition.
However, there are two factors always present that we can identify and develop in our product or service and thereby increase our chances of success: value and satisfaction.
These factors are not mutually exclusive since they cannot be spoken about satisfaction without talking about value.
Value vs. added value
It’s important not to confuse the value with the added value. Kotler established the value as those differences between the benefits that a customer expects to receive from the satisfactory and the total cost to pay.
Meanwhile, the added value is an extra feature given to a product or service in order to get a greater commercial value. Most of the time it is an unusual feature or service, which can give to the company some differentiation from other competitors.
For example, if one person wants to buy the newest model of a cell phone usually goes to the store to get it, but if they only have it in certain color most probably that person will buy it anyway. They are giving you something of value, since they are giving you the benefits expected due to the cost involved.
But, if that person goes to another store and they have the cellphone in many other colors, and the seller is exceptionally kind, able to explain the specifications and functions of the mobile. This is known as added value.
How to generate added value?
It is important to understand that small details are essential for giving value to customers. Here are some tips to achieve it:
- Know the client: Understand and attend to their needs. It is necessary to create empathy with them in order to understand what they consider valuable.
- Curate the image: Both, the personal and the business image, remember that an image says more than a thousand words and can be a decisive factor for the consumer.
- Generate a shopping experience: As mentioned, the added value is in the details, make the purchase process of customer special.
- Humanize: Face the clients in a human way. This must extend to how to handle social media, too.
- Train the staff: People want clients to be grateful. Teach the employees to create added value in their interactions with the customer.
- Be thankful: Make the clients realize that the company and staff are grateful for their purchase. This can go a long way.
- Fast in service: Speedy service can be a decisive factor when making a purchase.
- Be innovative: As mentioned in other articles, competition is growing and distinction is becoming less visible. It’s extremely important to get a differentiation.
A satisfied customer is the best promotional campaign a company can have. Added value will turn them into loyal customers and brand ambassadors.
Don’t forget that at the end of the day everything is about small details, people want to be treated like that, get more personalized and less standardized service.