Don’t you hate wasting time and money? I know I do. You may be doing just that with some of the services or products that you consider “value adds” for your customers.
Why? What you may consider as providing more value, may not be seen as VALUABLE by your clients. Such things as newsletters – nobody reads them – or at least maybe 1% tops – and you can spend HOURS writing them, and in some cases printing and sending them.
Other companies provide consulting, or simple low cost services in a bundled package with a larger service. Many times your customers simply want what they paid for and don’t see the extras as valuable.
In some cases the extra value upsell, isn’t providing the returns they were expecting.
Another example. I am a member of a regional business organization. They upsell that new members who attend the monthly business breakfast will get a chance to introduce to the entire crowd – normally 200 -300. What ACTUALLY happened was that all the new members were asked to stand, and their names and company names were read. Then we all sat down.
What would have been VALUABLE to me was to let each of the new members intro THEMSLVES and give us each 10 seconds to tell people what we do. That would have provided REAL true value (and happier customers for simply adding 90 seconds into the agenda.)
How do you know what if you are wasting time and or money?
Do a survey to see if people are truly USING the extras, or enjoying the insights. What would they like to see more of – or less of. What are you NOT doing that they would appreciate? This is best done by a 3rd party that can provide the feedback to you – and get more honest answers from your clients.
You will never know unless you ask. It could save you from wasting valuable resources you can put towards more profitable initiatives.
Steven Placey is the President of Rock Your Business Inc. an Business Growth Firm that focuses on Innovation, Strategy and Marketing for Small and Medium Companies.