Liz Ranger discusses the importance of providing added value to clients and what it can mean for your business.
When studying for my master’s degree in public health much of the research I conducted looked at how people feel, rather than numbers. The value of it was therefore difficult to quantify and this can be the case for us within our business.
When we’re helping our clients with our products, we need to consider what value they will receive. What is the added value that you are providing – your cherry on top?
Working in finance, I’ve taken this into consideration when helping people with Funeral Plans and I’m sure many of the principles can be the same for your business.
Firstly, I take time to understand my clients and what their particular needs are, and I answer their questions with my knowledge and expertise. I give them written information about the products and a checklist/flowchart that can help them make key decisions in an easy way.
I give them examples of how other clients have found the products beneficial and the benefits that it can give their particular situation. I’m aware that discussing a funeral is extremely personal, so reassuring my clients about confidentiality is essential. Allowing the clients to make their individual choices for their funeral wishes values them as an individual.
Understanding and knowing the different payment options allows the client to have choices. Finally, it’s important for me to know that the purchasing of a funeral plan has huge value for my clients… a ‘value stack’. This can include for them;
- Peace of mind that their funeral is paid for and planned
- Peace of mind that their loved ones have everything in place
- Good financial planning
- One single phone call to activate the plan.
This provides both emotional and physical value.
So, having seen my example consider what value you can add with the solution that you provide – write it down and use it to benefit your clients and your business.
The cake with the cherry on top looks all the more appealing, and so does the person with added value.
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