We talk about “adding value” to the market, but what does that mean?
Providing value is one of our core values at SalesPartners. But we believe that this phrase, “adding value,” has become almost cliche in the marketplace. As a business, how do you focus on adding value to your clients and customers?
We’ll point to Buckminster Fuller again, who used to say that we need to do “evermore” with “ever less.” This is a pretty good model for adding value. Even still, we could be more specific.
We want to give you two ways to think about the concept of adding value:
1. Increase Pleasure
Increase the pleasure associated with your product or service, or the pleasure associated with your clients’ efforts.
- Have you made something more useful?
- Have you made a process more enjoyable?
- Have you added elements of surprise or delight?
The other side of the coin is somewhat predictable: pain.
2. Decrease Pain
Can you decrease your clients’ or customers’ pain?
What kind of pain are we talking about? Maybe the first example that comes to mind is the cost factor. It’s true that reducing the price of your product or service is one way to reduce “pain.”
But pain can come in a lot of different ways… “pain” can also be frustration or the time and energy it takes to do something. People are often willing to pay more for something that will save them time, energy, and frustration.
For example, our President Will Dukes buys pre-chopped and pre-washed collard greens because he has an appreciation for the time and effort it takes to chop and wash the veggies. Do the bagged collard greens taste any better? Not necessarily. Will doesn’t pay for increased pleasure, but to save himself time and energy (decreased “pain”).
Adding Value Sustainably
When you’re thinking about how your business could provide value to clients or customers, ask yourself:
- How can I increase a client’s pleasure or enjoyment?
- How can I decrease a client’s pain?
The other key piece of the puzzle is sustainability. There are plenty of products and services in the marketplace that can increase a person’s pleasure or decrease their pain, but it’s short-lived. Some people are only looking for a quick fix, a Band-Aid.
We need to be more aware of how we add value. Is the value that you provide to clients long-lasting and sustainable? Are your solutions effective or ineffective?
To recap, we add value by increasing pleasure or decreasing pain in a way that’s sustainable for clients and customers. If we can help you provide value to your clients and customers, reach out to let us know.
