Five Tips on How to add Value to your Business

Five Tips on How to add Value to your Business

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Today, we will discuss the subject of added value and how to add value to your business. Simply defined, the term value identifies what a thing is worth. While in most cases this is an intrinsic trait, in other cases, it is perceived value. For example, if enough people believe iPhones are better than Android phones, they will ultimately cost more. Regardless, added value is what truly runs the world. To put it differently, people will only purchase a product when they understand its added value to their lives. For example, today, when you buy a phone, you are actually buying connectivity to people and to the internet. So as a business owner, its important to identify what unique value you can add to your customers. In addition, finding ways to add value to your business that translates into added value for customers is equally important. So, like we said earlier, we will take a look at what it means to add value to your business. We will then conclude with five helpful tips on how to add value to your business.

We live in a very fast paced world today. For the right price, almost anything can be made available quickly and with minimal effort. And while such speed is great for things like technology, it is not applicable to everything in life. There are just certain things in life that require time and effort to produce lasting success. One of such things is value.

Before we proceed, we invite you to check out these related posts on the subject. We believe you might find them equally inspiring:

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  2. Fifteen Inspiring Mother Theresa Quotes about Life
  3. How to Succeed in Life: Ten things to give up
  4. Five ways Brand Marketing will benefit your Business
  5. Fifteen Motivational Zig Ziglar Quotes on Success
  6. Top Five Reasons Why Small Businesses Fail
  7. Five Benefits of Good Customer Service

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In the next section, we will discuss what it means to add value and why it is important.

What it means to Add Value

Like we said earlier, there are different types of value. For this post, we will assume that there are two types: intrinsic value and perceived value. Intrinsic value is what your product or service is worth in terms of cost to produce. On the other hand, Perceived value is the value your product or service adds to a customer.

In discussing the subject of business value, we must ask ourselves several questions. For example, we must ask if customers can get the value we provide without the use of our product. And if so, how convenient is it to the customer and at what cost.

So, what does it mean to add value to your business or to customers? In simple terms, it means running your business with a contribution mentality. It means understanding that the true purpose of business is not to make money but to contribute to society.

Five ways to Add Value to your Business

Here are five useful tips on how to add value to your business.

  1. Offer Better Quality: One excellent way to add value to your business is by offering better quality products and services to customers. When your business provides quality products and services every time, you create a standard customers and competitors can expect. It is interesting to note that for the right customer, quality is of greater importance than price. And eventually, quality products and services will create unwavering customer loyalty that increased customer leads. 
  2. Improve Customer Service: These days, it’s no longer enough to simply provide excellent service or quality products. To run an exceptional business, one must also provide good customer service and support. Such support usually creates brand loyalty that guarantees continued purchases from happy customers.
  3. Improve Product Design and Packaging: Another way to add value to your business is through branding and marketing campaigns. Of course, this includes product repackaging and eye-catching advertisements. Such campaigns have the potential to change the way a product or service is perceived and increase its value.
  4. Speed of Service or Delivery: Sometimes, the distinguishing factor that can gain a customer is speed of service or delivery. Chances are that if you can delivery your product or service faster than competitors, customers will engage with you.
  5. Offer Planned Discounts: Offering discounts on purchases and providing rewards for loyal customers is useful for generating return sales. This is because all customers instinctively want to save money, even if it means spending money. Additionally, such discounts and reward programs can be used to attract new customers resulting in increased sales.

How have you added value to your business over the years? Are there any specific techniques you’ve used that have resulted in greater sales? Let us know by leaving a comment at the end of this post. As we like to say, we would love to hear from you.

Today’s Funny Quote

High heels were invented by a woman who had been kissed on the forehead. Christopher Morley

Our funny quote today is by Christopher Morley, the American Novelist and Poet. He said:

High heels were invented by a woman who had been kissed on the forehead.

Do you agree? As a woman, what are your thoughts on why high heels were invented? Let us know in the comments section.

Did you know that Innovate Today is a part of Innovate Design Studios Ltd? We are a web design company that provide premium web design, website maintenance and graphics services. If you’d like to know more about the service we provide, feel free to check out our Services page. On the other hand, if you’d like to get a free, no obligation quote for your web design project, contact us to submit a quote request.

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Have a great weekend, stay safe and we will see you next week with more inspiring posts.

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