How to make more by giving things away Part 2

Last issue, we gave you four ideas to consider using in your business by adding value rather than discounting. 

Remember, when you add value you are using what is called a soft cost i.e. the cost to you is far less than the value to the customer. 

Here are a few more things to consider;

1. Are you in a handy location? Is there plenty of parking? Are your hours flexible? What’s different about you? If your prospect doesn’t need to worry about parking, odds on he or she will come to you first. And don’t assume that they know. Spell it out for them.
2. Do you have loyalty card? Loyalty cards, or voucher systems which encourage customers to come back are just what you need when competition is fierce. You need to get the balance right between the amount sold and what you give away, and that will depend on your specific product or service. But don’t be stingy – make it worthwhile for the customer.
3. Do you have a referral system in place? Most businesses get 60 – 90% of new business from referrals, depending on whether you are in retail, wholesale or a profession. So why not reward your customers or clients when they give you a referral?
4. What else is there about you that you can add that will differentiate you from the competition? Take time out and think about it. And then make sure that your market knows about it. After all, the best person to advertise your business is you.

I have only scratched the surface, but those points and the ones I gave you last issue will assist you to elevate your business above the rest. When people are looking for a product or service, they have trouble differentiating between the number of suppliers in the market. So you need to help them by telling them what they can gain by dealing with you.

Maybe you might like to bounce some ideas around with me. If so, just give me a call. I would love to be your sounding board.