Adding value to a product can be easy. Let’s create a simple example – If you purchase a bag of carrots the cost can be under 50p. If you purchased a bag of washed and chopped carrots the price will instantly double. This is adding value.
How does this work for your business? You may think you can’t just wash, chop and double the price of your product or service. In actual fact, there are always ways of adding value and increasing profit.
Let’s say your business is IT support and you charge the average market rate for an annual service charge. How can you add value and increase that annual charge? We will look at your service and locate what is important to your clients and where they perceive value. Then area is then boosted as part of the annual contract. You could make contact on a regular basis with updates, tips on what’s new and how to save money on IT.
When moving onto products, the process is even easier. If we imagine a new fragrance with a total cost of £1.50 per bottle. Connect a suitable celebrity, brand it up and create expensive packaging and £75 per bottle isn’t out of the question. This is adding value and happens all the time!
I know what your thinking… “Yes and that is all well and good but what about my product or service? We are different and find it difficult to sell!” Fantastic! This is a clear opportunity for you to get creative. You’ll be selling a new and all improved product or service with added valued in no time at all.