How to Provide Value to Your Customers
If you want people in your target audience to choose you before any of your competitors, they will need to perceive that you’re giving them real value. Let’s start from the beginning, with the definition of value.
What is Value?
Value are those benefits that people are expecting to have by using your product or service.
The expecting visitors will be defined only by the client and where psychological, emotional and cultural aspects will be a very important part.
Therefore each client defines themselves what is the benefit. This will be really important, but I’ll deepen later.
Since value perceptions are what determines people's decisions, is why all the marketing strategies are aimed at the creation of value.
How Do You Create Value?
Now that we know why the creation of value is the vital importance for your business let’s take a look at the 4 different ways to do it:
1. Understanding the Customer
Consists in understand and meet people’s needs, as well as comprehend what they consider valuable. It also involves knowing the environmental and structural characteristics that define their behavior.
2. Find Opportunities
This involves finding existing needs or desires in the market that are not being met and that the company has the ability to do.
It’s directly related to understanding the customer because much better your understand your customers, better chances of detecting more and better opportunities you will have.
3. Always be Innovating
Try to solve customers needs and problems with completely new and different ways.
Innovation must be given not only to your products or services but also regarding the use and interaction between the customer and the product.
When a disruptive innovation occurs you can solve problems that consumers didn’t even know they had.
4. Real Differentiation
Is the importance of having and exploit a unique differentiator that can’t be easily offer by someone else.
It implies knowing what your competition does and how to compete with other products in the market, translating so that the customer perceives that it in terms of a higher value.
We can summarize two important keys:
- Build value means talking about perception and its primary purpose is to attract new customers.
- Generate satisfaction means to speak about expectations and its primary purpose it is to retain existing customers.
Companies and businesses should stop focusing on being the best, and try to be unique.
For The key is creating effective strategies to captivate new customers and offer added value that makes them continue investing in our products or services.