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Value over price, don't forget that

Value propositions and USPs are important to your business, of course. But did you know that it’s even more important to deliver MORE value than your customers expect and pay for? It’s true. And you can do exactly that, without losing a thing, only gaining, in the end. Many business executives don’t know this, and it is a huge mistake. Under-promise, and over-deliver.

Customers are delighted when they receive more than they paid for. If you order two scoops of ice cream, and end up getting an extra one, or a free topping, you’re very likely to go back to that ice cream shop. It is simple human nature.

If you buy a suit, and the salesman offers you a tie to go with it, at no extra charge and without your having asked for any special discount or deal, you will be thrilled. Then, you will recommend that store to all your friends and family.

If you place a sizeable order with an online business, and the product arrives with a $100 gift voucher, will you be doing more business with that company? Of course. In each of these cases, you’ve gotten more than you paid for. And of course, the business that just sent you the $100 voucher, just guaranteed you will make another purchase from them.

There are lots of ways to deliver more than the customer expects – and they aren’t all necessarily just “free stuff.” This is a great area for inventiveness and creativity, to really make your company stand out.

To determine their needs and priorities, you can ask prospective customers the following: Which is most important to you:

  1. The lowest price or
  2. The highest value?

It is worth your time and effort to explain the difference to your potential customers.

Happy customers make loyal customers, and loyal customers are priceless: you have their continued business, and they send new customers your way. Few marketing strategies are as efficient and effective as word of mouth. That’s why you should focus on how to deliver maximum value – more value than is expected. It’s the surest way to optimize customer flow.

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