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Raising the Value Proposition - Scott's Perspective
Share this: Every business is in competition, trying to outdo the other and bring more customers in the door. Product is typically the first aspect that draws attention, price is usually another major factor, service a huge one, but added value is the piece of the puzzle that truly wows customers and keeps them coming back. Innovating and relentlessly looking for ways to up the value proposition are imperative to staying ahead of the pack and remaining relevant. At times this can seem like a tedious, never-ending battle, but creative teams that love what they do seem to effortlessly stay ahead of the curve, repeatedly topping the sundae with an even bigger cherry. But how does one continually add value when available budget isn’t infinite? The good news – major impressions are often achieved via touches that are free or nearly free. These memorable moments tend to be thoughtful, show customers you’ve put yourself in the their shoes and are things you would do for a friend. Their greatest value – they take time and a bit of caring effort – things money can’t buy. That’s where prime value impressions intersect. Some examples: In a former life, while running a travel company in SE Asia, we were constantly upping our game. Take the ‘$50 Newspaper’ as we called it. When guests arrived from abroad, tired from the transcontinental journey, their host greeted them at the airport with the local newspaper of the day. Hard cost – $0.75. To an educated, …