Value added services are critical for all companies. Do not think that as a small company you cannot benefit from value-added services, as this is simply untrue.
What are Value Added Services?
Value added services are perfect for companies that have a homogenous product. Of course, it would not do for us all to be the same. This is where you can utilise value-added services by ensuring that your product is enhanced. This means that the service you then give to your clients is different. You want to be a leader in your chosen industry, not a follower. Your subtle differences will make you stand out against your competitors and will give your customers a greater sense of belief in your product. The value that they can gain from your company providing an excellent product, with an unique edge, will see a positive return on investment.
Value added services, in short, are extra items that compliment your existing core services. They are great for making your product distinguishable in a homogenised market. By making sure that your product is slightly different from that of your competitors, you are making sure that you have the edge in a tough economy. Your competitors will be left trailing behind.
The Benefits: For Businesses
For businesses that want to utilise value-added services within their organisation, there are proven advantages:
- A better rapport with the client
- Increased revenue due to customer engagement
- Enhance your company’s profile
- Enhances reputation of your company
- Increased sales
The Benefits: For Customers
Customers love the feeling that they are getting more for their money. When businesses utilise value added services, they are making sure that their customers are receiving a lot more bang for their buck.
Giving customers more than their basic needs may cost a nominal sum, but their customers will keep returning to their great product time and time again. Building customer trust is important, especially in the current economic climate. Learn more about value added services at comverse.com.
How Much Does This Kind of Service Cost?
Value added services can vary depending on your provider. Of course, for the customer there should be no additional charge for their extra services. Typically, the cost is picked up by the organisation. On some occasions, the service may be charged a small fee to an existing customer if they wish to upgrade their existing service. This is down to the organisation and how they see fit to operate.
Pricing structures for businesses, however, will very much depend upon their provider. They may want to seek cheaper services, but this may result in their customers getting a lesser quality product. The services that they provide for their customers should be used as a customer retention tool and not as a way to increase sales and profits. However, as a start-up company, or small business, you can utilise value-added services as a way to positively enforce sales. The return on investment can be significant if value added services are utilised in the right way.