"Value Added" - That Little Extra Something Makes The Difference

What do you sell?

Are you the only onewho sells it?

Why should I buy it from you instead of from someone else?

Seriously... what makes people buy from you instead of buying the identical item from someone else? All things being equal, the answer is price... and when you compete on price no one wins.

Let's say you reduce your price to beat your competitor, he will just reduce his... then it's your turn. It's a vicious cycle with no winner... not even the consumer wins, because in order to reduce your price to compete, you will also probably have to reduce your level of service.

The solution to the problem is to create a "value added service" that sets you apart from your competition.

Do you provide a guarantee? Do you deliver? Will you sell re-orders (at reduced quantities) for the same price as the original order? Do you provide free shipping? Do you get free fries with your meal? Do you reward repeat customers for their loyalty? Do you have a "frequent buyer's card?"

Find something to set yourself apart from your competition and you will reap big rewards.

I have an associate in the flooring business who would take his large customers on a cruise every year. When he first told me about the idea, I asked him how he could possibly afford to do something so extreme, and he simply told me that his customers "are willing to pay more because they know that they are going to get a trip out of the deal."

What is your "point of difference?"

Whenever I shop online I always look at the shipping costs... actually, I look at the shipping and handling costs. I've found that some businesses charge an extra $5- $10 (for some reason) as a "handling fee." Apparently they "handle" things differently than their competitor (who only charges for shipping). If you want to "handle" my money (and the business of several thousand other frugal shoppers out there), start by not trying to nickel-and-dime-me to death. If you want to set yourself apart, provide free shipping... it's an easy start.

And what about your repeat customers? Are you doing anything special for them? Are you giving them an "Oh, I'd really miss it if I couldn't find someone else who (fill in the blank)s for me" reason to stay with you? If not, find one. Do you send your customers Christmas cards? Birthday cards? Well so does everyone else! Do you send your customers Ground Hog's Day cards? No? I can guarantee that if you got a Ground Hog's Day card you'd remember it... and isn't that what you want?

Find a "something" that adds value to your product or service and you will not only set yourself apart from your competition, you will also give your customers a reason to buy from you!

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