Well! We think a better question is “How can I add more value for my customers, so they spend more – but without adding to my costs?”
It’s something we’ve been thinking about a lot this week.
We’ve been away at the quarterly Entrepreneur’s Network event, in Milton Keynes. They’re awesome events. We love catching up with old friends + learning from super-smart people.
There was a LOT of content to take in.
But this is the one point that’s really stuck in my mind.
What else can we package in to our products or services – so our customers perceive them to be much higher value – without adding much to the cost of delivering the product or service?
And we think there’s a lot of stuff that most of us do, as a matter of course, that we just don’t mention.
Stuff that has REAL value for our customers or clients – but that we neglect to focus on.
If you’re B2B, you might naturally refer your clients to one another, because you know them well & you know they do a great job. The potential for new leads is highly valuable to your clients. But you don’t mention it in your sales conversations, because it’s just something you do routinely.
Maybe you have real expertise within your team, or people you partner with. Like a great designer or HR expert. You’d use these skills anyway for your clients. But if you don’t TELL them that additional resources are there & available for them, then you’re missing a real chance to add perceived value.
Or maybe – like us – you’d do anything to put it right for your client, if something went wrong. Maybe you’d refund their money, or revise the project until they were 100% happy. It’s just what you do. But if you don’t TELL your clients this, and make it clear in your product copy + website content, then (again) you’re missing a real chance to add value.
The more perceived value you can add, the more you can charge. And the more business you’ll attract, because it’s such good value (and you can guarantee most companies in your space won’t be doing this).
And as well as looking deeply at what you already do…
What additional products or services could you bundle into a package?
What else do your customers buy, before or after they come to you?
Is there a way you could bundle these additional things into a higher-cost package, so you get those sales too?
If you create branded workwear for businesses – you’re already digitising their logo. Could you bundle in business cards or branded mugs or other personalised business products?
If you’re a photographer – you probably already bundle in frames + canvasses. But could you team with a local salon, and bundle in a hair + make-up package, on a commission basis? So your clients can come for their family sessions looking & feeling amazing?
Could you bundle in a webinar? Membership to a secret Facebook group, for mutual support? Exclusive access to highly valuable content? Anything that’s very low-cost to produce, but which FEELS high-value to your clients. And which you can sell again + again, once you’ve created it once.
It really is win-win. Increased perceived value = more, higher-ticket sales. Your customers leave feeling happier with the extra value you’ve given them. They get more of their problems solved + don’t have to shop around.
And you can bask in the satisfaction that you’ve truly served your clients well. A job well done.
I’m off to discover more ways we can add value for our clients. Happy days!
Until next time
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