Making sure customers see the value of your product or service is a key element to making sales and retaining customers.
Value is not just about price – there are 7 elements:
Each of these have different levels of importance to different types of customer, so there are some key considerations when you want to make sure that your customers understand the value of your product or service to them:
Value means different things to different people. It could be seeing a solution to a problem or challenge they have. It could be that they value convenience, quality or price. For some, it could be that they look to buy from businesses that are ethical.
Revisit your customer personas and try to work out which of the elements of value matter most to each one. If you have not completed your customer personas yet, you can get some hints and tips here. This understanding will help you decide what your key messages are to each target customer.
This does mean that you will need to create different communications for different customer personas – it may not be a huge task though as often it is about the order in which you place the features of your product or service. For example, Customer A may value ease of use above everything else, whereas Customer B may value ongoing support and peace of mind first.
Here are some key questions to ask yourself:
This is partly about channel – which are their favoured channels for receiving information? It is also about what format they want to receive the information in. This could be visual (pictures, writing or video), audible (verbally) or a combination of these. Is your customer persona someone who takes time to make a decision and needs detail? If yes, then written communications are normally most effective. Is your customer persona someone who absorbs information quickly and is not interested in detail? If yes, then pictures are most effective. Think about the customer’s age as well – millennials are used to absorbing small blocks of information and tend not to take the time to consider a lot of information.
You want to develop messages that resonate with each different section of your audience and call them into action. Keep your messages simple and consistent, make them stick by telling a story, use visuals, and evoke emotion to inspire and make your story memorable.
Monitor your results and keep looking to improve. You may want to measure response rates and/or sales. Ask for customer feedback and keep making adjustments – try to do one at a time per type of customer as otherwise it is difficult to assess what has worked.
Once you know you are communicating the value of your product/service to your target customers, encourage them to spread the word by referring you, mentioning you on Social Media etc. This builds sales and customer loyalty!
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