Questions

Would love thoughts on increasing the perceived (or value overall) Example: packaging, 24/7 customer service, celebrity or expert endorsement.

Start by figuring out what value your product gives to your customers and then see how you can improve each of these areas.

According to Builtvisible, there are nine factors to consider when determining the value your product or service provides your customers:

* Product function: What will your product or service do for your customer? What effect will it have on their life?
* Points of differentiation: What is your product’s unique selling point? What sets it apart from similar products on the market?
* Quality: Is your product durable? Is it made to last? Will the services you provide continue to benefit your customers over time?
* Service: What “extras” do you provide your customers once they’ve paid for your product or service?
* Marketing: Have you created a “buzz” around your product or service? Are the benefits of your product well-known?
* Branding: Is your brand a true representation of the level of quality you provide, and of the values your company stands for?
* Customers’ existing relationship with your company: What have your customers’ experiences been when interacting with your company in the past
* Personal bias from experience: Unrelated to your company specifically, what does your target customer think about the product you offer?
* Price: How much do you sell your product or service for? How does the price of your product compare to that competing companies’?

You can find more tips in this blog: http://www.fieldboom.com/blog/customer-value/.


Answered 4 years ago

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