A business can only thrive more if its delivery of value is always top-notch.
As a business owner, identifying how your business would add value to your customers. And potential customers alike can ignite your passion to do more.
Business values are determined by calculating the business real assets such as buildings, land, equipment or assets that you can see. This includes unseen assets such as the business intellect, customers list and the business goodwill over the business present liabilities and debts.
All of these can disappear within a twinkle of an eye if proper attention is not paid to the kind of services rendered, how it is done and if there is great customer satisfaction.
Here are things you can do as a business owner to add value to your business;
1.Delivery Time: Logistics is one integral part of business and seeing what is happening with most businesses, delivery is always a problem! Either the delivery man is late or he has catered and tempered with the goods, the stories are too numerous to mention.
So, to stand out, knowing that some customers have little or no patience, you as a business owner should have a carefully thought out plan to achieve a great delivery time.
Even if it’s not intentional, Delivering your products or services late might cost you a lot of customers.
It might not be easy to do in the beginning especially if your business is still a start-up but try as much as possible to increase the speed of delivering your products and services.
2. Be Different: Every product is identified by its uniqueness and it’s so easy these days for customers to spot a copy-cat. This constant competitive market should allow you as a business to create various methods of standing out.
One of the ways to beat competitors and buy the market is to be different. The difference might not be necessarily huge, it might be as little as service delivery method, customer relationship, management of staff and so many others.
Be different in the way you package and render your products and your brand, it could be your selling point.
3. Refund Policy: There will be bad days in business as nobody has 100% guarantee that things will always be smooth and as a business owner there is a need to proffer some basic solutions ahead of time, one of such is the refund policy.
From research it has shown businesses with the ‘no refund policy’ tend to lose more
4. Have Great Customer Service: Generally, people love a happy space where they are sure they would be welcomed with a smile and respectful response, simply put Friendliness keeps people coming.
Your business grows largely from the way you treat your customers because they will tell people who will tell people that will tell people about your business and the chain keeps growing.
Learn to use kind gestures with your customers . Prompt responses to customer questions and a calm attitude during crises are also parts of ways to win over loyal customers .
5. Quality Over Quantity: In the bid to get more profit, sometimes business owners end up losing their customer base because the quality of their product has dropped with time. Customers love that products retain their organility and it is bad branding if businesses do not keep to their promise when it comes to delivering the products they purchase.
A business can lose a maximum number of customers if it continues to provide products that are of less quality to the advertised ones.
Try as much as possible to offer quality products especially when they are online. This will greatly increase your business value in the market.
Adding value to your business does not only keep you ahead of competitors, it retains your status in the market.
Value adding businesses don’t have many headaches when it comes to getting their products and services recognized, they are recognized majorly by referrals from previous clients/customers.