I’ve been thinking a lot about value recently, and how we create it, or reduce it.
I’ve been trying really hard to keep in touch with customers over the last few days, because I feel that this somehow creates value for them. The service has been sold, and now they are left waiting for results. To hear from me, I think, creates value for them. It’s part of the deal.
I think value is important. And the more I look into the value I think I deliver, the more I realise that I still have work to do. All businesses do. And in these times of financial constraint, offering more value for the price a customer pays is crucial.
So how can we offer more value? What strategies can we put in place to ensure that the customer feels they have experienced good – or great – value for money?
- One thing you can try and do is talk to your customers, ether literally or through a survey. Ask them directly about value. Ask them what aspects of your offering they enjoy or appreciate, and value the most. Then ensure you deliver on these value-points for all your customers.
- Work on your pricing. If you set a price for your products and services that seems to offer value in the sense that the cost is sensible, and the customer perceives value after buying the products or services, then they will be willing to pay more. But if they don’t perceive value, they won’t buy anymore, even at a low cost.
- Always show complete integrity. If you promise that your product and service will bring about a certain result or benefit, it had better do so. The more you do this; the more people will trust you, and perceive value.
- Call them. Obviously, if you sell millions of products a year, calling each customer is difficult. But emailing them isn’t. Keep in touch and show that they weren’t just a ’sale’, and your customers will feel valued. And their value perception will increase.
Above all, remember that perception of value is perhaps more important than any other aspect of your customer relations. If they don’t feel you are bringing value to them, why should they even consider coming back?
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