How clarity drives value in a business

As a consumer, one of the first things that we will try and establish when we look to make a purchase is the price we are prepared to pay for certain goods or services.

There is a relationship between how quickly this is established and the value we perceive a product to have. The longer we spend thinking about the worth of a product, the more value we attach beyond just the price.

For a business, there are a number of ways to shift a customer's focus away from simply price and help them to realise the full range of benefits your company offers. Here are six of the most valuable.

1. Be clear about what makes you different
Offering the same service as your competitors won't help you to stand out from the crowd. The solution is to know what makes you different and ensure your marketing reflects this in clear and concise language. Use every opportunity to get feedback from your employees, customers or industry networks.

2. Be clear about your values
A business's values can be seen each and every day, no matter what industry they are working in. These are the guiding principles that govern how you conduct business and what your customers can expect from you.

No matter how large or small your business is, or what industry you are working in, the values your company holds will show. Whether it is participation and fun, providing exceptional service or any other core business value, these are instrumental in steering your customer experience.

 
3. Be clear about your brand
Each business has a distinctive brand that permeates each area of the organisation. Your brand is embodied by you as the owner, your products, staff, logo and behaviour. Each one of us is a brand and anything that is a representative of your brand - both good and bad - will affect how customers perceive your business.

The importance of this cannot be understated - your brand is synonymous with the experience of your customers.

4. Be clear about what your team should know  
All your marketing efforts have the potential to bring customers to your door. The challenge now is to match your product offering with their expressed needs.

This means understanding your product features and benefits and presenting them in a way that builds trust. Knowing what to ask, when to ask it and how to persuade in a positive, supportive manner has now become the standard of service that every business should be aiming for.

5. Be clear about what motivates your team
Knowing what motivates each individual in your team goes a long way in creating passion for your business. Linking the aspirations of your staff to business goals ensures higher quality outputs that are consistent with business objectives and values.

For example, if your vision is to provide excellent service, turn that into a tangible action or activity for staff in their day-to-day work. You could also offer an incentives program that allows employees to share these rewards and give them an opportunity to recognise the successes they have had within the business.

6. Be clear in the marketplace
You may have a solid reputation but don't forget to build leverage and momentum on top of this success. Achieving this requires a simple message that informs your potential customers about who you are, what you do and why you are the right choice for them.

Realising this involves letting them know what they should expect to experience by dealing with you, as well as being clear with your message in order to grab their attention and motivate them to act.

Find our more at our Certificate IV in New Small Business.