Increase added value means making the product or service better than that of the competitor. The new way to differentiate your company, attract new clients and boost sales.
In accordance to Michael Avoir, a company’s value-added is shared among two categories: primary actions and support activities. The former involves transforming raw materials in products. These involves https://equyer.com/2021/12/21/how-to-practice-bpm/ providing the after-sales services that ensure that the customer use the product and improve this.
There are many approaches to increase your added value, such as improving their packaging of a merchandise or streamline its technique of use. Apple’s focus on making computers simple to operate, for example , transformed their market and created gigantic added worth. Other ways to incorporate value in order to provide personal services, deliver discounts, or give back to the community.
Upping your added value is specially important in today’s competitive markets just where buyers have become web-savvy and fewer loyal to brands. When a services or products is viewed as a commodity, it is difficult to offer it at a high profit margin.
Customers really want to believe that they’re receiving their money’s worth, therefore putting added benefit before a sale is an important strategy for businesses. If you don’t add value to your product or service, your competition will, and you’ll always be left with almost nothing. Adding value to your product or service also helps to generate trust with potential customers and clients. This kind of trust will warm them up to the brand and make that simpler for you to sell to them down the road.