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Wednesday, April 17, 2024

4 Ways to Provide Value to Customers

Businesses today have an onus on them to differentiate themselves amid the increasingly competitive industry landscape. As more and more businesses come and go in all industries, it’s never been more important to stand out from the crowd – and that applies to both prospects and current customers. The selling doesn’t stop at the close of a deal.

Especially as it costs six times more to acquire new customers than retain your current ones, it’s vital to make sure they are happy. Here are our 4 top tips for providing value to customers:

1. Become a trusted advisor and partner

Becoming more of a partner and advisor than simply a sales consultant is a great way to build long-term trust and add ongoing value to your customers. This is especially the case given that many businesses won’t have the technical expertise or knowledge of your product to know exactly what they need. Depending on your product, advice can range on implementing new technology, helping identify their needs, and how much they should be spending to resolve their pain. For those starting small, providing advice early on could see them remain loyal to you as their business grows.

2. Focus on stand-out support

Customer experience is a vital differentiator in standing out from the competition. It’s become the buzzword of modern business. That’s because the modern customer demands that any concerns are answered or resolved immediately, and any delay in response could lead to a loss of business. While you might be quick to hand this over to your support team, quite often it is you as the salesperson that they want to deal with. So, ensure you’re on hand to speedily remedy anything from issues with billing through to questions regarding technical help at all times. Or point them in the right direction for help. Again, don’t cut contact with customers once you’ve closed a deal.

3. Upsell services

If you’ve done the first two points well, you will be in a good place to offer additional services or products that provide further value to customers. Upselling is a great way to add more revenue from your current customer base and enhance your relationship. For example, think about relevant add-on products, complimentary services, additional quantities of the existing product, partnership integrations, new features, and so on.

Just remember to consider the specific needs and requirements of your customers to assess where you can add the most value. Don’t just try to upsell because you need to hit a monthly target.

4. Inspire loyalty

Despite the amount of competition out there, businesses want to buy from businesses they can trust and, when they find it, they’re unlikely to want to jump ship. Inspire loyalty in customers by committing to understanding their business and unique pain points, demonstrating that you care about helping them grow their business and aiming to meet and exceed their expectations. The goal is to build long-term customers that want to buy again and advocate your product and business to others. Word-of-mouth recommendations are one of the most powerful sales tools you have.

Always deliver value to beat the competition

While customers might not be your priority, they can be a goldmine if managed properly. Businesses are increasingly looking for partners they can stay with for the long haul, but they also aren’t afraid to jump ship if they don’t receive the service they expect. There are plenty of competitors looking to poach your customers by offering a better service, product, or price. Always focus on value, take the time to understand your customers’ needs and build their trust with excellent customer support. The more value and trust you build with your customer base, the more you will see your sales flourish.


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