There are a few important myths that first-time business owners or naive entrepreneurs can fall into, and it’s a shame, because they may really hinder the success those competent individuals could have been enjoying otherwise. 

Offering more value to your customers makes you a better business, which runs counter to the conventional wisdom that nickel-and-diming every encounter is the best way to gain revenue.

While cutting costs and being as economical as you reasonably can is essential, but just like money management in our personal lives, good financial handling is not always about knowing what to save as it is knowing what to spend on.

For that reason, being proactive and taking that good first-step, great-faith approach to increasing value your customers get can not only help you spread your business name and retain loyal customers, but it helps you become a stronger, better, more intelligent, more capable firm.

In this post, we hope to discuss how and why this happens, what putting that first step forward can get you, and what techniques you may wish to use when pursuing that goal. Without further ado, let’s get started:

UX Is King

Understanding the UX design process and utilizing companies that can help you optimize and implement it is essential.

From figuring out how your customers can be best aided when interacting with your product, to formatting the installation or setup process appropriately, to making sure maintenance tasks can be carried out, UX is king, and it must be properly invested in.

UX can also relate to your branding in terms of how its proper development speaks to the values of your firm.

In that respect, it’s worth prioritizing and curating depending on the products you’re selling. It might involve making sure a certain product is more ergonomic, or that it can be made accessible to the most amount of people. It may mean balancing raw practicality with aesthetics, but certainly not prioritizing the latter over the former.

UX is also concerned with how safety features operate, and what the long-term implication of a product’s usage is. For that reason, using professional services to help consult with you every step of the way means every single product you release is up to the standards expected from you.

It’s not hard to see how hitting that standard helps you become a better, more reliable, and ultimately more interesting business.

Goodwill Is Priceless

Goodwill is of priceless value to your firm, for obvious reasons. Yet we cannot force it or artificially invest in it. Goodwill must be a process of carefully overdelivering on customer expectations, and reliably doing so, and then treating your customers well when they retain their use of your services or continue to purchase your products.

Goodwill is tantamount to trust, but trust that can work as its own marketing tool and even convince your customer to pre-order products before you’ve released them. Great goodwill helps ensure your word-of-mouth marketing functions perfectly without a dime spent on your behalf.

It can also ensure you become more of a noticed heavy-hitter in your industry, and some may recommend your products or services over the mainstream alternatives.

Goodwill comes from ensuring value is regularly delivered, no matter how you curate that. It might mean by offering more bang for the buck than the competition when selling your products, or it might mean curating world-class customer support aimed at getting to the heart of any issue.

However, for how beneficial goodwill is, it’s important to remember that it’s also fickle, and it can be lost quickly. Look to the recent example of CD Projekt Red, one of Poland’s most profitable companies.

Pushing The Industry In Your Direction

There are many ways to compete, as seen in geopolitics. You can offer a great array of products with intense innovative might. You can invest in the future with visionary interest. Or, like many countries, you can spread your ‘soft power’ within your industry by spreading your culture and making sure that you influence standards in your direction.

For instance, think about how certain companies take this initiative. McDonald’s have rebranded as serving as a champion for farmer’s rights in recent years, which should be one of the strongest examples to consider.

Think of how Uber switched up the standards for an entire industry by revolutionizing how they interacted with and conducted the business transaction alongside their clients and gig workers.

It could be that focusing on value helps you gain cultural significance in your industry, which then helps you slowly push the narrative in your direction.

Staff Motivation

Investing in value and taking that proactive step to offer more than the competition not only benefits your customers, but it also helps your staff culture, as they begin to feel thoroughly proud of where they work.

Employees are often all too familiar with working for firms that do their best to gain the utmost revenue from each customer, squeezing out their value by offering somewhat predatory subscription offers, using underhanded tactics like hefty early termination fees, and more.

Staff want to feel as though they’re making a difference, and that they can be proud to work at your firm. This is why offering value is important. Remember that this doesn’t necessarily mean making products cheaper or using arbitrary spending choices to make your product the most valuable option.

It might be that a renewed dedication to making sure your company is as carbon-neutral and sustainable as possible helps to achieve this aim.

Sometimes, the value might be simply paying your staff a living wage, as many companies are starting to do this as standard and are reaping the positive PR and renewed application drives thanks to it. Staff motivation counts for a lot, as they are the literal lifeblood of your firm, and so it’s best to direct that energy in a positive direction.

With this advice, we hope you can understand how offering more value to your customers helps you become a better and more competent business.