This is because digital transformation, in addition to facilitating the opening of a profitable business, has also placed an important weapon as an ally of the consumer: knowledge.
Today, with just a few clicks, you can evaluate several competitors through a simple Google search or comments on social media.
The direct consequence of this is increasingly demanding customers who seek a complete and enjoyable purchasing journey that meets their expectations. After all, in many cases, the differences between one market solution and another may be minimal, but it is precisely customer success that can make the difference.
This new trend has long been noticed by managers. 83% of executives believe that underinvestment in improving customer experience can pose serious risks to the company's profits and market share , according to Forbes .
With that in mind, how about learning a little more about the topic? Check out five tips on how to create value for customers and the concept and importance of this practice.
What is creating value for customers?
The concept behind the expression “customer value” derives from a mere mathematical conception.
One of the first marketing theorists to address this issue in scientific terms was the famous Philip Kotler, who, among other achievements, popularized concepts such as the marketing mix.
According to Kotler's concept, the value that the customer sees in a purchase can be approximately calculated from a simple subtraction operation.
In this analysis, we will take into account all the costs that the consumer will have to acquire and enjoy a certain product/service to its fullest. This takes into account:
the price;
the ease of payment;
the existence of some bureaucratic barrier;
locomotion;
the time it will take to enjoy the purchase, among other possible factors.
This series of costs will be subtracted from the ireland business fax list customer's total purchase value. According to Kotler, this total value is made up of four subcategories that can be classified according to the benefits that the product/service will generate for the buyer. There are four:
Staff value
It deals with the business's ability to provide personalized and targeted customer service that addresses their needs. Here, the company shows the importance of its product/service and how the brand's expertise can solve consumer demands.
Image value
It concerns the brand's reputation and the historically renowned quality of a product or service. The image is an added bonus to convince the customer to pay (even more) for something. It should be worked on both in the values of the products and also in the success of corporate communication .
Value of services
It takes into account customer service and the agility and accessibility of processes between the consumer and the brand. The better it is, the more pleasant the purchasing journey and the customer's success will be.
Product value
What sets your product apart from its competitors? How is it innovative? Can it satisfy customer needs? Having a product/service that perfectly matches consumer pain points is half the battle for anyone who wants to learn how to generate value for customers.
How to generate value for customers? 3 tips
With these elements and the equation in mind, how do you generate value for the customer?
We have put together three incredible tips for implementing a successful strategy to attract more consumers and make them satisfied with the brand. Check it out!
1. Know your target audience well
Want to know how to generate value for your customers? Know your target audience well! After all, it is impossible to create an efficient strategy that includes an excellent purchasing journey for the consumer without knowing them in depth.
Know what your main needs are, as well as more specific details, such as:
age group;
main communication channels used;
consumption profile;
and economic conditions…
… It is essential for your sales team to have support and know which path to take to capture your attention.
2. Position your brand on the internet
We mentioned above the factors that generate value for customers, and one of them concerns the topic of image and reputation. In this sense, knowing how to position your brand in the digital environment is essential for the authority of your business in the segment in which it operates.
This means that one of the main ways to consolidate this positioning is through content marketing, which consists of a strategy of creating articles, videos, ebooks and other rich and informative materials on topics related to your business environment.
For example, if you run an online English course , you can create content such as blog articles or YouTube videos. This will help your company rank better in search engines and make it more well-known.
>>> Creating quality content to increase brand authority is not the only way to delight your customers. See more in this special video from EAD Plataforma:
3. Make your customer's life easier
As we mentioned in the introduction, faced with broad competition and availability of solutions, customers are increasingly demanding and are increasingly looking for flexibility and comfort before closing a deal and feeling satisfied with a brand.
Therefore, some tips that should be taken into consideration for those who want to know how to create value for the customer are:
offer diversified payment methods and conditions;
have an agile customer support and service system, always operational and on strategic channels;
make the purchase accessible to your consumer and ensure that it is completed, preferably, intuitively and with just a few clicks;
provide assertive service and interactions that directly address the customer's needs so that they are not bombarded with unnecessary information and offers;
and, finally, explore the product/service’s unique features and make it clear why it will solve the consumer’s needs.
So, do you understand what it means to generate value for customers? We hope so! We at EAD Plataforma are proud to generate quality content to improve the knowledge of digital entrepreneurs .
