October 25th, 2012
Last week I discussed the importance of developing a strong, positive brand to differentiate your business from the pack and create growth. Today, I want to focus on an area of differentiation that has emerged from the economic difficulties of the past several years: Added Value.
Whether you are a B2B or B2C business, potential customers have changed their buying habits and requirements since 2008. A solid product and competitive price are not necessarily enough to win over a client who can do a quick online search and find similar options. It’s up to you to show them your product is a value-add to their business or everyday lives.
One of the best ways to show added value is with video. Determine which areas of added value apply to your product, and then cut videos that make a compelling case for the customer to buy. Product-in-action videos or testimonials from satisfied customers are time-tested, winning formulas. Embed the videos on your website, send as personalized emails or include in email campaigns.
So what comprises added value?
1) Cost Savings – How does your product save the customer money? Examples include: lower utility usage, extended product life, reduced labor requirements, etc.)
2) Time Savings – Does your product save customers time? Demonstrate features that give customers more time to pursue other activities.
3) Revenue Generation – Will your product help customers improve sales? Business customers are always looking for ways to increase sales. A convincing exhibit of your product doing just that will turn heads and open checkbooks.
4) Comfort and Security – Does your product give customers a sense of security or well-being? Make a video that features your product creating a safer environment for customers. If your company offers quality, dedicated customer support, shoot video of support team members actively responding to customer needs. Knowing there’s a friendly person to call when things go awry gives customers ease of mind that no amount of money can buy.
Adding value to your products can preempt common objections and give customers solid reasons to make a purchase. So before distributing your videos, be sure that value-add claims are realistic representations of your product.
Jamie Bidwell is a team member at www.covideo.com. Covideo provides video email software that helps companies build relationships quickly and reinforce their brands more effectively with easy-to-make video emails that truly communicate. email@example.com.