Value Added – 5 Minutes to Better Marketing
I’ve written in the past about selling the benefits of your product or service to your customer. What problem does it solve? This article goes a bit further with that concept into value added features of your business and how they can help you sell. Value added benefits can be especially useful in the more crowded marketing places out there.
If we’re talking about crowded marketplaces in the Buffalo area, we should talk about pizza. There seems to be a pizza place on every corner in my neighborhood. So, how do they all survive? What would lead me to pick one over the other? It’s mostly a proximity and quality game, and there may be some decisions made on price. For the most part, your pizza place is your pizza place. So, if you own a pizza place, how do you bring in new customers? This is where value added concept can make an impact (and has been for some time). Delivery is an expected service of any pizza place, but there was a time when this was the value added feature that separated one pizza place from another. A national chain used to take it one step further and guarantee delivery within an hour. Does delivery appeal to every customer? No. But, it does appeal to the parents that can’t leave the house because they are hosting a toddler’s birthday party. Fast delivery? Not everyone. Maybe the people who just had unexpected and hungry family stop by. That is the essence of the value added feature. You are giving your customers something useful needed or not. The feature is probably not a pillar of your business, but an aspect of your product or service that brings value to some part of your customer base.
There are many examples. Something as simple as a free cookie in the lobby of a Hilton to the often overlooked travel insurance on your credit card. It’s another way to appeal to your customer with your product or service in a unique way.
At Nickel City Graphics, our main value added feature is guaranteed views for our video projects. It is not something that is often requested, but it is something that our clients appreciate, even if they didn’t know they wanted it. Our explanation during the sales cycle usually goes a lot like this – ‘Our clients spend a lot of money and we spend a lot of time and effort to create these videos. At the end of a project we want to ensure that people see them. That is why we always include guaranteed views’. Guess what? The client usually wants people to see their video too.
What value added feature can you add to your product or service?
Takeaway – Value added features of your product or service appeal to specific customers and set your business apart.