Accelerate your business with these expert tips on "Putting value on the table".
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Many times we bring a benefit to the customer which is not sufficiently explicit in our proposal. Enhancing value means highlighting the characteristics and the best ways to promote a product or service. This can involve both show the unique characteristics and descriptions who do so different from other products on the market, as well as finding new uses and functionalities that they do so more valuable to potential customers.
Enhancing the value of the project:
Value creation is creating a positive perception in the public mind about a product or service, with the aim of attracting more customers and improving sales.
The concept of "valorisation covers a a range of strategies and tactics intended for highlighting unique and differentiating qualities of a product, service or even an entire brand. This action goes beyond simply selling something; it's about showing the target audience why they should be interested and is therefore offered and how it could benefit yous in ways they may not have considered.
- Clarity and Transparency: It is not just about highlighting positive features, but doing so in an honest and transparent way to build trust with the customer.
- Identification of Unique Value Propositions: Every product or service has something that makes it unique. Valorising means identifying this element and communicating it effectively to the potential customer.
- Contextualisation: Depending on the target market, a feature may have more or less value. Knowing the audience and adapting the value proposition to their specific needs is crucial.
- Innovation and Versatility: Valorisation may involve discovering and promoting new uses for a product, which could open up new markets or customer segments.
- Client experience: Value is not only about the product or service itself, but also about how it is delivered and the customer service that accompanies it. A good experience can significantly increase perceived value.
- Effective Communication: This involves the strategic use of different communication channels, from digital marketing to direct sales, to get the message to the customer.
Imagine a company that sells high efficiency hoovers. While its product can be more expensive than others on the market, the company decides to "showcase" its hoover by demonstrating how its superior filtering technology can contribute to a healthier home environment, removing allergens and particles that other hoovers cannot. They publish studies, testimonies and comparisons to support its value proposition and thus appeal to a market segment willing to pay more for additional health benefits.
In this sense, "to put in value". functions as a lever which helps changing customer perception about the product, aligning it more closely with the advantages and benefits that the product or service really offers. This change in perception can be instrumental in increase competitiveness, attract more customers and ultimately, boost sales and profitability.
Artificial intelligence can help to enhance the value of a proposition in a number of ways:
- Content Generation: It can help in creating relevant content such as blog articles, whitepapers, or even product descriptions that highlight the unique features and benefits of your proposition.
- Communication Strategy: It can provide ideas for marketing messages that highlight the most valuable aspects of your product or service, thus assisting in the creation of an effective narrative that attracts more customers.
- Competitive Analysis: It can provide a framework for analysing the competition and highlighting the elements that make your offer unique, thus enhancing its perceived value.
- Pricing Consultancy: Provide guidance on how the perception of value can affect your pricing structure, and how pricing strategy can in turn affect the perception of value.
- Decision Support: Help you weigh different aspects of a value proposition to decide which is most critical to your target customer, and how to communicate it effectively.
- Sales Training: It could generate scripts for the sales team, focused on highlighting the value of the product or service during conversations with potential customers.
- Customer Service: It can be programmed to provide highly informative and helpful customer support, which in turn increases the perceived value of your service or product.
- Market research: Although it cannot browse the internet, artificial intelligence can help you design surveys or questionnaires that help you better understand what your customers value most, so you can put those elements at the heart of your value proposition.
- Feedback and Continuous Improvement: It can help you collect and analyse customer feedback to continuously adjust and improve your value proposition.
By using artificial intelligence in these ways, you will be able to improve the way in which communicate the value of your product or service, which could result in a increased sales, higher profit margins and better customer retention.
Maria and her Nutritional Consulting Company
Background: Maria is a certified nutritionist with years of experience in hospitals and clinics. She decided to start her own online nutritional consulting company. Despite the high quality of her service, she was having trouble attracting new clients. She decided to join a startup accelerator programme to get guidance and mentoring.
Initial problem: Despite her vast knowledge and experience, Maria failed to differentiate herself from other nutritional consultants in the market. Her potential clients saw her service as just another generic nutritional advice, and were therefore unwilling to pay a premium for it.
Acceleration process: During the acceleration programme, they were assigned a mentor specialised in marketing and business strategy. They worked on analysing her value proposition and how to "value it" to attract more customers. They discovered that Maria had a unique approach to treating chronic digestive problems through nutrition, something that many people suffered from but could not find effective solutions to.
Actions to Enhance Value:
- Refocusing the Value Proposition: Maria decided to specialise in nutritional consultancy for chronic digestive problems, an under-served market need.
- Testimonials and Case Studies: He collected testimonials from previous clients who had seen significant improvements in their digestive problems. He posted these testimonials on his website and social media.
- Educational Content: He began publishing articles and videos explaining how nutrition affects digestive health, validating his experience and knowledge on the subject.
- Strategic Alliances: He partnered with gastroenterologists who could refer patients to his consultancy, offering added value to his own medical services.
- Pricing Strategy: It implemented a tiered pricing structure, offering free initial consultations but with more comprehensive and personalised follow-up plans as premium services.
Thanks to these strategies, Maria was able to "highlighting" its specialised service. Your customer base grew by 250% in the following three months and was able to increase their fares by 20% due to high demand. In addition, your customer retention rate significantly improved, as the customers saw real and differentiated value in their service.
Through the acceleration programmeMaria learned to articulating and "valorising" the unique and specialised characteristics of its service. This not only helped him to attract more customers but also enabled it to to position herself as an expert in the field of nutrition for chronic digestive problems.
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