Increase added value means making your product or service superior to that of the competitor. The new way to differentiate your company, attract new customers and improve sales.
Regarding to Michael Tenir, a company’s value-added is shared among two types: primary activities and support activities. The former involves modifying raw materials in to products. These involves providing the after-sales providers that ensure that the customer utilize the product and improve that.
There are many strategies to increase your added value, just like improving their packaging of a merchandise or simplifying its method of use. Apple’s focus on making computers easy to use, for example , transformed their marketplace https://equyer.com/2020/05/16/business-process-management-in-a-virtual-data-room-is-becoming-a-necessity/ and created gigantic added value. Other ways to add value in order to provide personal services, provide discounts, or perhaps give back to the community.
Increasing your added value is particularly important in today’s competitive markets wherever buyers have become web-savvy and fewer loyal to brands. When a goods and services is viewed as a commodity, it is difficult to offer it at a high profit margin.
Customers prefer to feel that they’re getting their money’s worth, and so putting added value before a customer is an essential strategy for businesses. If you don’t add value on your product or service, your competitors will, and you’ll be left with absolutely nothing. Adding value to your services or products also helps to generate trust with potential customers and clients. This kind of trust should warm all of them up to the brand and make that easier for you to sell to them later on.