V

Value

What is value?

When it comes to business, the most basic definition of value is that it’s the amount of money a customer is willing to pay for the goods and services you’re providing.

In other words, what your customers think you’re worth.

When they’re happy with your products and their interactions with your brand through customer service and other touchpoints, they may be willing to pay more for what you provide—and vice versa.

When you focus on ensuring your customer’s success with your products and become indispensible, you build value.

What is added value?

Added value is the experiences, offers, and benefits given to a customer that go above and beyond the basic products and services you offer.

Added value benefits might include “buy one, get one” promotions, surprise upgrades, and other extras that go a long way toward keeping your customers happy and loyal. They may stay in your customers’ memories for years when they think of your company.

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