Added Value as a Marketing Strategy by Michelle Barry - Updated September 26, Added value does not necessarily mean monetary value, though it can. Added value in marketing means customers receive something that has value to them. This can be true even if it is no cost to you or the company.
Leave a comment The hyper-saturation of advertising and marketing we see today has many negative consequences. The following two, however, are chief among them.
First, people are becoming increasingly annoyed with brands trying to sell them just about everything—constantly. Second but closely related to the firstit is becoming increasingly hard for brands to get noticed, heard, and remembered. Long story short, the current state of marketing leaves much to be desired.
The good news is that we already see a slight yet significant shift toward better marketing. Call it a customer-first approach, empathetic marketing, or marketing with meaning. The idea behind it remains the same: Value-added marketing brings marketing to an entirely new level by turning marketing content into a product of its own.
Added value in marketing can be either financial or not. This could be anything from free shipping to referral rewards, even discounts on related materials. To master the art of value-added marketing, a company needs to understand its buyer persona most typical customer and what might be important to that persona.
This step is crucial for deciding what of value a brand can give customers. Once a potential value-add is defined, it should be well-integrated into the heart of a business concept.
What is offered as a value-add should never contradict with the major product or service a business provides.
For instance, a dental health center should not give its returning customers a free family package of chocolate candies, assuming the role of dental healthcare practitioners is to help people take care of their teeth.
Neither would it be smart for a gym to sell cinnamon rolls and double-chocolate, king-size donuts in their cafeteria. Most of us go to the gym to lose weight and get in shape, not to fall for another portion of sugary, fast carbs! Contradictions are confusing, confusion is not what drives sales.
Consistency should be the foundation for any value-added marketing initiative. LEGO created an online community for its customers where they can submit their ideas for new LEGO sets and vote for the ideas of others.
Such interaction and gamification is an value-add in its own right, but LEGO has taken it one step further. The brand decided to grant idea-contributors a percentage of sale revenue as well as recognition on the packaging.
One more telling example of a company that knows how to leverage value-adds is Nike. Apart from being one of the top sportswear manufacturers on the market, the company has grown into an ambassador of active lifestyle.
They also have a free app with guided workouts, so customers can stay active and fit regardless of their schedule and ability to attend a gym.
Virgin is yet another good example. The company has gone so far in terms of value-added marketing it can no longer be considered just a product or service.Nov 25, · Those in the retail marketing and advertising and branding space will be thankful for for many things I'm sure.
When companies offer value- added services, they . Value-Added Services: A strategy for growth A Multi-Client Study. Direct Marketing Production Printing & Value-Added Services: A strategy for growth With advances in technology, this benchmark InfoTrends about direct marketing production printing and value-added services.
In our report OneAPI - Next Generation Value Added Services in the Mobile industry Strand Consult describes how operators and others can take advantage of APIs to improve their value added services (VAS) offerings.
Here are 10 tips from the report. Value Added Content is your secret weapon in two respects: It helps you to showcase your expertise and build the KNOW-LIKE-TRUST factor It gives you a larger stock of fit-for-sale products.
This is the person that will get to know you, understand how you do business, and what value-added services you provide. Our consultative approach will ensure that we deliver spot-on representation of your company across every marketing platform.
Because of the complexity of specialty pharmaceuticals — along with the financial investment they required — the rise of value-added services was inevitable. Promoting behavior change, not policing or lecturing patients, is more effective in managing conditions over time, believes Dexter Shurney, MD, .