4 Ways to Add Value to Your Business Without Lowering Your Prices

I want to give you some powerful insight around the concept of adding value. Adding value is a key component in building deep connections with people. This is true whether we are talking about business or in life. 

When we talk about adding value, our first thought is money. We automatically think I want to add value with money. However, adding value means so much more. As I look back at why I haven't done JTIntheRaw over the last six weeks. I questioned whether I was adding value to you guys? Was I adding value to my friends, family, and colleagues? Was I actually adding value? Sometimes you question whether you actually add value. I received lots of messages asking where I had been. It was important to get that feedback. However, when you get that feedback that makes you feel like you then add value. When we talk about adding value, it's taking a service level and going from here to here. It's that extra bit adding value that differentiates you as a leader. Subsequently, adding value differentiates you as a business.

As leaders, if we have a core value, we can add value to every interaction. Furthermore, we can add value to every relationship we have. Then I believe we lead a much mentally healthier life.

How to Add Value in Your Marketing

Adding value comes across so many of our levels in our business. During a REX marketing round table, one of my members was frustrated. They had done an email blast and only received 5 responses. They did a second blast, they received even less responses. They did a third blast. Same result. So I asked what was in that email blast? And he said it was an offer to join the gym. 

In his book, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World. In marketing, we have to add value to our customer base. If we're trying to attract prospects, we have to add value to the relationship with the prospects. So we jab them with that value, we jab them with that value, and then you throw your right hook. The right hook is your big offer to join.

Never Lower Your Price. Increase Your Value. 

Consequently, coming out of the pandemic, every small business crawls at glacial speed. Shockingly, we keep going after strong price-based offers. When we should be doing is adding value back to your customer. When you understand your customer, you can deliver value to them. Consequently, when you deliver value, you don't need to discount your price. You don't need to run price-based offers. Importantly, price-based offers are big right hooks that will lose your prospects. Thus, every day we should think, how can I add value to my customers and prospects?

2 Ways to Add Value to the People Who Work For You

The Power of the High-Five

If you're a coach of a sporting team, how do you add value to your players? There is a book Leadershift: The 11 Essential Changes Every Leader Must Embrace.  Every REX Roundtable around the world is reading this book at the moment. We’re doing chapter by chapter like a book club. In his book, John Maxwell talks a lot about adding daily value. How do you add daily value to the people working in your team? Personally, I’m lucky that I coach my daughter's netball team. In addition, I coach another team where I don't know any of the girls. Surprisingly, what I've worked out is the power of a high five. The power of a fist bump. Subsequently, it’s taught me that fist bump adds value to the relationship. It creates a connection between me and a player that I don't know well. 

Add Value by Being Specific on a Job Well Done

When trying to become a higher accredited coach, we are often assessed on one area, and that is the feedback loop. In that feedback loop, we're not supposed to tell players well done or good job. Subsequently, we're supposed to be specific. Great job on that pass! Well done with your footwork! Excellent tackle! We’re specific in that feedback. Unsurprisingly, that’s how you add value to your team. So, instead of saying "Great Job!" during a department team meeting, be specific. As effective leaders, we need to go to that next level. We provide real value by saying, "Well done on that sales presentation that you did last week!" 

Adding Value to a Community Before They Are Prospects

In addition, there is a third important group that we miss. That is our community. It can be an online community or physical community. This community is neither a customer nor a prospect. Yet, we can still add value to this community. We add value to our customers, so they sit back and say, "I'm so pleased I'm a customer of this company."  We add value to prospects, so prospects think, "How do I become part of that company? How do i become a customer of theirs?" How do i add value to the wider community, so that when they are ready to buy my widget, they think of me? 

Recap of the 4 Areas Where We Need to Add Value

1. We need to add value in our marketing. We want to add value to our customers, so they think "I love being a customer of this company."

2. We must provide value to our prospects without price-based offers.  We want our prospects to think, I wouldn't mind being a customer! 

3. Strive to add value to our team members daily. How do we add value to the people we work with, the people we play with, and even the people we live with? It can be really small things, like a fist pump!  

4. Don't miss the opportunity to add value to your community. We want the broader community to think of us first when they want to become a prospect.

Whether you are dealing with adults or kids, adding value builds that deep connection. At Active Management, my goal is to add value to your business. Whether you are a department leader, team leader, or owner of a business. I want to add value by sharing my experiences.  As I work with customers and clients, I want to share with you what i learn. And hopefully, I can make you a strong leader. 

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