How to Raise Prices by Creating Added Value

One of the most valuable things you can do for your clients is to make their experience in dealing with you ultra-convenient. Everything from ATMs, half hour pizza deliveries, 24-hour convenience stores, Internet shopping and so on…

In today’s competitive environment it’s a foolhardy business owner who thinks that, by keeping a close eye on the competition and following the same approach of a seemingly successful competitor, they will have a similarly successful business.

If you want to stand out from the crowd you need to fully grasp and implement the concept of adding value to your sales propositions.  Adding value to a sales proposition can be as simple as ensuring your staff is 100% in T.O.U.C.H. with your clients which means:

  • Truthful
  • Open
  • Understanding
  • Caring
  • Honest Added Value

Here are a few ‘entrepreneurial’ ways to add value to your sales propositions in order to truly stand out from the crowd.

The greater the perceived value of a product or service, the greater the amount you can charge for it and the greater value it will have in the eyes of your prospects and current clients.  Adding value simply means increasing the perceived value of what you’re offering the marketplace.

Convenience

One of the most valuable things you can do for your clients is to make their experience in dealing with you ultra-convenient. Everything from ATMs, half hour pizza deliveries, 24-hour convenience stores, Internet shopping and so on…

To stand out from the crowd, start to focus on how you can provide more convenience for your prospects and customers.

Additional Ways to Add Value

Product bundling – grouping together certain products to create ‘packages’ which you then sell to your clients. If you’re in a service-based industry then “discount books” do the exact same thing. At the heart of all value-added propositions lies the need to help make your clients’ decision-making process easier. Bundles also make internet “price shopping” less of a threat.

Trade-in offers are a great way to generate extra sales. Any business that offers anything new could start using trade-ins as a tool to growing their business. You’re lowering your margin on the sale of the new item. People like to trade in something old for new and it definitely makes their buying decision easier. Offer to donate all traded-in goods to a needy charity. They’re paid a trade-in on the old product and helping out a charity as well. Promote that “all traded-in items will be donated to charity” and get a write-up in the local paper. Advertorials are better than paid advertising… you will reach more people and generate positive word-of-mouth.

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