Customer value is the level of a customer’s satisfaction with your business. The term “value” can have several different meanings or definitions. But in business as well as for many customers, it is often related to a price. It is related to things like when you are asked about the value of the house you purchased, or it can also be interpreted as the worth of something, not necessarily a tangible product but can be both products and services. So, what strategies can be used in creating value for customers? In this article, we listed 5 strategies for creating value for customers.
Creating and producing a perfect product is not enough, given a set of reasonable prices because customers have many great options. That is why they will look for additional value when making their choice. Most of the time, customers want to feel appreciated while they are making conversations with a brand. They seek valuable experience. Customers also want to rely on true experts who listen and understand them.
The Importance of Creating Value for Customers
Customer value is the idea of what a product or services are worth to a customer. Worth can mean a customer feels that one’s received benefits and services over what was paid. Through the development and improvement of processes, value is created.
Creating strong ties with your customers or target users and your brand is a crucial matter. There is a possibility that the brand or business may provide not only quality services and its functionality but something, even more, something like ethics, the feeling of confidence, and the reliability of the brand. Positive emotions that can make your brand’s communication enjoyable and worthwhile are also included.
1.Create motivational programs.
There are many motivational programs like discounts, special offers, subscription services, partnering with another brand. In discounts, you can offer it to your high-spending customers. It can cover multiple purchases, regular purchases, or complementary products and services to your proposition. You can also propose discounts during the holidays. Special offers like free goods that serve as a special service level. When you offer a subscription service, it does not always mean that it is a paid software plan but a monthly delivery of your retail products. In partnering with another brand, you can start by creating value for your customers with your co-branded offers. You can choose a company that best suits your brand.
2.Consistently work to improve customer satisfaction.
Lack of customer satisfaction is one of the factors to keep customers from coming back. Allow your brand to solicit honest feedback through customer satisfaction surveys regularly so that you can keep your finger on the pulse of your customer’s needs together with the journey of your business. It is also an opportunity to monitor your business identity in the marketplace.
There are free survey tools like SurveyPlanet and Survey Monkey. These tools are offering easy to use templates. They also have unlimited responses that ensure you can collect feedback and create an action plan based on the results. By this method, you can capture data to understand what is important to your customers and what are the opportunities you can do to help them.
3. Sharing valuable content.
To get a positive response from your customers, you should share knowledge in your area of expertise that is useful. Content that is value-driven establishes brand credibility and customer loyalty improvements. In establishing valuable content, you should know the three basic types so that you can use them.
Nowadays, celebrities, experts, and authority’s recommendations are a popular way to promote a product. Based on research, companies gain over $5.20 per day spend on influencer marketing. One of the ways to collaborate with an influencer is to provide a free sample of your product or a trial sample of your services. Selected influencers then publish reviews about the product and recommendations of how you use it by writing and recording.
Another method is by sponsoring content or giveaway a blogger holds so that they can use your product as their prize. It is a win-win situation between the brand and influencer because they have a chance to give themselves more traffic by showcasing your brand’s products or services.
Any content generated by a user is called UGC or user-generated content. Publications derived from users make them feel appreciated and listened to. User-generated content may feature a brand to a relevant topic. It can be photos of customers wearing the company’s product.
For people to create UGC, the brand will hold a contest and ask customers to share their experience through the Thank you emails or on packaging inserts. Users can either publish their content on their own, and the company will share it, or directly through the brand’s pages.
You can have your own original content by creating educational content like infographics, articles, recommendations, videos, podcasts, and guides on how to use your products. Your customers can also be invited to your relevant educational events that you organized like, webinars, forums, and seminars.
A great tip for personalization is to keep your customers’ data and use it. Knowing their birthdays can let you congratulate them on time. If you are able to monitor their online behavior purchase history, you can adapt it in your own emails, suggesting or including their favorite products. You can also send milestone emails to your subscribers if you have the information about the start date of their membership.
5. Developing a memorable customer experience.
Having a memorable customer experience, your brand likely to benefit from referrals, a higher retention rate, and positive online reviews. When getting started, you will need to consider all the touchpoints of your brand or business, from getting leads to post-purchase, and maximizing the added value properly for the customer throughout the process. Building a great customer experience allows you to develop relationships with them.
Having a strong relationship with customers helps connect to labels that go past simply getting a sale from your brand. It also aims to deliver intangible value that cannot be packed or sold, which includes attention to details, personalized details, and showing urgency to address concerns that are arising.
The purpose of this strategy for your brand to be caring rather than hard-selling to your target customers. Think about the benefits that make them happy and what your customers really value. Think what information about your product is lacking and what are the things that are considered fun for them, and use it to your own advantage to provide value.
Given all the strategies for creating value for customers above, it will surely help you to create a positive image for your brand among your potential customers or clients.