Everyone talks about value but what does it really mean? Simply put, it means going above and beyond what is expected. For instance, giving out cookies and hot chocolate during the holidays in your business can be considered added value. Cookies add to the festivities and are unexpected by the customers. Will all customers think they are added value? Probably not the people who are on a diet or don’t eat chocolate chips. Value added is a marketing and sales strategy for your business. It helps customers remember you, build repeat and referral business and build differentiation.
Before you can deliver, you have to know your customers, and what they expect. Yes, customers want to be treated with courtesy, feel that prices are fair for the marketplace and expect your place of business to be inviting. If you can’t deliver what’s expected, how can you go above and beyond and deliver the “added value?”
Once you know who they are, then you can go forward trying to figure out what you can do that they would like.
So added value is something the customer gets and finds delightful. Imagine giving your customers a beautiful winter blanket on a beastly hot summer day. The blanket is worsted wool, with horse blanket fringe as well as being soft and warm. Delivered in the summer, it isn’t valued, in fact, becomes a problem. You might say, “I wouldn’t care when I got the blanket, it’s so magnificent. “ Despite your excitement, many of your customers would not be feeling the same. So treating the customers using your standards may not be adding any value nor getting any points from your customers.
Instead of thinking what’s of value to you, find out what’s of value to your customers. For any of this to work, it must be determined within the context of your customers. Of course, we all have fixed budgets, but we still have to look at the customer’s criteria. I go into the gym daily. It has become an important part of my health plan. One of the things, besides all the people I know is the coffee that is served free of charge in the lobby. It makes a huge difference to me; it’s always fresh and somehow signals the end of a good workout. So it’s a big deal to me; no, it’s not rational but value isn’t rational.
I know they make a big deal about wiping down the equipment after it’s used in the gym. (They consider this huge value.) Frankly, this doesn’t really matter to me; I know the best thing I can do is go home and change my clothes. I’ve been told the gym is one of the dirtiest places in the world so I don’t think a simple wipe down will help.
In all of our lives, it’s the simple things that make our own world special.