Value is the essential perception which underpins and makes possible all successful commercial transactions. It’s the reason that your customers buy from you or your competitors! Without delivering value to your customers you will not succeed in business or get that start up off the ground.
Value is usually articulated as benefits or savings for a customer and is typically defined as the performance characteristics or attributes that a customer is actually willing to part with their cold hard cash for.
Do you know what it actually is that your customers pay for?
Do you understand the value that your competitors provide?
In terms of understanding the value that you provide or when creating services or products for your customers it can often be helpful to start by asking yourself what problems you solve for your customers or what the outcome of a successful interaction is.
In most marketplaces value is typically the result of creativity which involves doing something differently – otherwise you’re just like everyone else. Those who truly succeed innovate and create real value and therefore a significant strategic competitive advantage, which is now temporary so don’t take your eye off the ball!
When it comes to value perception is reality and sometimes your customers may not understand holistically the value that your business can actually provide. Often this arises due to ineffective communication or a failure to achieve synergy during the sales process. Remember, the quality of your communication determines the quality of your relationships and it’s through communication that you get the chance to build lucrative relationships and position and define the value that you can provide.
Want more sales? Create more value!
But don’t just create homogeneous value! This is what you’re paid for – if you’re lucky…
In today’s hyper competitive marketplace deliver just the value that you’re paid for and don’t expect to achieve significant long lasting success!
You need to innovate, work harder, communicate better and find ways to do more than your competitors. That’s how you create real value and win!