GIVING YOUR CUSTOMERS MORE SERVICES THAN THEY HAVE PAID FOR
One glance at the title of this article and you have had a quizzical look on your face and wonder how possible this can be. Everybody loves freebies and your customers are no exception. Everyone has what I call the ‘Oliver Twist Syndrome.’ In this actual sense, this does not look feasible because you are scared that you won’t make profit. You can give your customers more services than they have paid for without derailing the total value proposition.
Your customers, clients or users want to be lost in your amazement and you have to keep them thrilled. You can’t afford to give them all your products and services for free but you can afford to build a relationship with them. It costs zero dollars but remains priceless to them because humans tend to want to be made to feel important at one point or the other.
Your customers silently crave entertainment but how do you go about this. Storytelling! They want to be able to relate with your business on a personal level. It could be simply getting hints on how you started your business or how you run your business on a daily basis.
What value does your product or service create for them? Different customers will have varying perceptions of your value relative to your competitors, based on geographic proximity, for example, or a product attribute that one segment may find particularly attractive. Different customers will have varying perceptions of your value relative to your competitors, based on geographic proximity, for example, or a product attribute that one segment may find particularly attractive.
Set a price that makes it clear that customers are receiving value but also maximizes your “take.” Satisfied customers that perceive a lot of value in your offering are usually willing to pay more. Mind you that unsatisfied customers will leave, even at a low price.