How to incorporate added value to your Business
Want to increase the profits of their business but find it difficult due to the strong competition that exists? You should know that to make a business add value, you must make your business competitive in the market.
Value added is a feature or extra service that is given to a product or service, in order to provide greater value. It must be an unusual feature or service that differentiates your business or company from the competition.
Many times we try to increase sales by making offering incentives such as discounts; however a good way to not compromise on price is to offer added value. This will make your customers feel fulfilled and satisfied to have got something more from their purchase.
Here are some suggestions and recommendations on how to make a business more profitable through adding value:
- Try to give something to those who visit your business: keep in mind that whenever someone crosses your door and visits your company, this is a golden opportunity to make the business more profitable by adding value. You can offer gifts for visitors that needn`t be anything expensive, such as chocolates, calendars, or a simple reminder to make the visit more enjoyable.
- Encourage your employees to uphold the proper treatment of clients: it`s good to take care to train and motivate your employees so that they always provide a smile and friendly service to customers. You can be sure they will appreciate it and increase the chances that they make purchases, return in the future and give good recommendations on your business.
- You can provide service delivery. If this is not part of your policy, then it relates to the possibility of offering home delivery of your products. Although it is clear that the implementation of this service represent a higher cost and you should evaluate it before offering it, it could represent a significant edge over your competition.
- Try to reduce the waiting time of your customers. If your business is such that people have to wait for treatment or for your products, you can make a business more profitable by adding value in the reduction of time. You could offer a more comfortable way of waiting by introducing coffee, a glass of water, a magazine or newspaper of the day` all to make your customers feel more relaxed when waiting to be served.
- You can send notes or calls of thanks: a good way to add value to your products or services is to express how important it is to have customers like them and they will appreciate the confidence in your business.
Here are some examples of how to a business can be more profitable by adding value:
- A restaurant that offers customers a special area for children, where free child care is provided and there are different games for children.
- A supermarket supplying fruits and vegetables can be offered previously cleaned, peeled, cut, and presented in special packaging to be consumed in an easier way for customer.
- A gift shop that not only sells but also handles wrapped goods and sends it to the person who`s made the order.
- A machine shop that not only gives us the car repaired, but completely cleans it and undergoes basic maintenance.
Final recommendations for adding value:
Adding value in your company is not just about offering anything, making arbitrary decisions or offering it just as a giveaway, but should be a carefully planned strategy and focused purely on customer satisfaction. It should be noted that you need to handle the added value sparingly because when you offer a gift or something extra the first time, your customers will expect it as an integral part of your service every time they visit your business.
Your Virtual Office London can help create your company and provide the right tools for you to manage it efficiently. We provide leading mail forwarding, registered office address and company formation services to start up businesses. Having worked in the small business sector for over 30 years, YourVirtualOfficeLondon.co.uk are experts in providing advice when and where its needed. If you need help or advice please get in touch with us or please read our informative business blog.