THE DEFINITIVE GUIDE II: VALUE ADDED SERVICES.
This guide was written by myself. This is some info I gained out of my high school marketing class around 2-3 years ago that I hope you will find helpful. Man... I should have taken notes.
It's no lie, there will be competition when entering into any type of business. How do you keep or attract potential customers? Now that you've got products to sell, or a service to provide, you could spend thousands of dollars on advertising, marketing, and waste many man hours and see little yield for your dollar. Its all about conversion. Conversion is simply how many people actually buy, as opposed to actual visitors you gain to your store or website. The average conversion for an online store can range from
0.5-2% you would be extremely lucky to get 2% of your visitors actually purchasing something.
So how do you increase that conversion? You need value added services or products!
Definition (Value Added): "A process or operation that increases the worth of a good or service as perceived by the internal or external customer, as opposed to an operation that may simply incur costs due to the performance of an activity."
What exactly does that mean? It means you Increase the value of an item, whether it be by providing an accompanying product, or service without increasing the cost to the customer.
For example:
1.) If you run a car cleaning business, you can entice customers to you by giving them a free car care kit after your work is done. This not only makes the customer feel like you really care for their vehicle, but gives them something to remember you by, which may lead to repeat business. Even something as simple as a 10% discount card may be considered value added.
2.) If you sell digital cameras, give you customer a free lens cleaning kit!
3.) Real life example: there are several people selling birdhouses/bird feeders on eBay, but one seller is outselling everyone else. How? It's not because she cut prices to undermark the other sellers, in fact, her prices were about the same as everyone else's. She gained more customers than everyone else because she simply provided a value added product. That product was a digital e-book on how to attract songbirds to your yard. A simple no cost item that skyrocketed her sales.
Value added not only comes in the form of products or service, but also guarantees or promises. Please be aware, you definitely do not want to make a guarantee you cannot keep. If you sell Televisions, don't say you will provide nationwide on-site service, if you are only a 1 or 2 man operation. it is not feasible, and it becomes a lie that by word of mouth, can exponentially hurt your business.
When you use value added products, services, or guarantees, you make yourself distinguishable between the hundreds of other people providing the same service or selling the same product you are.
Thanks for the read. Good Luck!
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