Provide Exceptional Value - Grow Your Business

By: Steve Brunkhorst
Submitted: 2007-01-17 11:49:29
Print this article | Tell a friend | For publisher | Social Bookmarking
Rating:
 

The primary objective of a business is to get and keep customers. Growing a profitable business requires providing exemplary customer service and products or services of exceptional value.

In the classic book, The Science of Getting Rich, Wallace D. Wattles writes that it is essential to provide customers with more in use value than you receive from them in cash value. Exactly what does that mean?

Imagine purchasing a training course contained on a set of CDs, and that its price is $1,200. Some would consider this rather expensive, especially if they are working with a small budget. The costs of copying a few CDs, and the packaging and shipping costs would not nearly be worth $1,200!

However, suppose you used the knowledge and resources contained in the course to generate several million dollars of income during your lifetime. In this case, you have obtained far more in use value than you paid in cash value. In fact, you might consider your purchase of $1,200 to be a real bargain.

The seller was not responsible for whether or not you would use the material. Nevertheless, he or she provided a product of extraordinary value.

This principle is easy to understand. It is also one of the most essential business practices in today's volatile economy. Just like you and me, our customers and clients are particular about how they spend their money. They deserve the most value possible for each dollar they spend.

Here is a little exercise that is fun to do, and provides some valuable insight. Think about all the companies you've done business with over the past year. Pretend you are holding a personal "Company of the Year Contest." Who would win, and why?

It would probably be the company whose product or service gave you far more in use value than you paid in cash value. It would be one whose product satisfied important wants or needs—one you enthusiastically told your friends about.

Consider also that both you and your winning company benefited when you made the purchase. By using this simple value principle, you and your customers will benefit beyond expectations.

You'll grow a profitable business because you'll get and keep more customers over time. They'll keep coming back and keep giving you referrals because they know you'll give them truly exceptional value!

© Copyright 2005 by Steve Brunkhorst. Steve is a professional life success coach, motivational author, and the editor of Achieve! 60-Second Nuggets of Inspiration, a popular mini-zine bringing great stories, motivational nuggets, and inspiring thoughts to help you achieve more in your career and personal life. Get the next issue by visiting http://www.AchieveEzine.com

Article source: Expert Articles

Most Recent Articles in Customer Service category

  • Customer Service: Reconnecting with Customers - By: Howard Lee
    No one likes to be put on hold or to endure high pressure sales tactics. Even Business owners, who, after all, are also consumers, probably hate the "hard sell" that is common at many firms.
  • Finding a reliable accountant - By: Michiel Van Kets
    If you are running your own company or if you are self-employed, hiring an accountant can be priceless. A few of the services they offer include completing tax returns, keeping company accounts, financial planning, auditing and book-keeping.
  • One Way Links! How To Get - By: Bhrat Brij
    Once you've managed to build your own website you are facing a huge dilemma: how to get your site indexed by search engines and how to get those one way links so valuable for SE.
  • Speak Easy: The Importance of Communication in the Real Estate Industry - By: Joshua Keen
    The ability to effectively communicate is one of the most important skills a professional can have in any industry. In real estate, agents have to deal with clients, colleagues, as well as the general public. If an agent is unable to speak or write well, he won't win over his target audience. He will miss out on deals and he will lose money.
  • Building Up Your Base Through Loyal Customers - By: Janice Jenkins
    Every company is going to need them. You’re going to have your best and most loyal customers. Recognizing who they are in order to get them to keep coming back is important, but it’s also important to know why they’re so loyal to begin with. You need to get your customer base to keep growing. If loyal customers are going to be the strongest base, figure out the best way to make that base as big as possible.
  • Putting Personality Into Your Business - By: Lynne Saarte
    It isn’t always just about the service. When I go into a store I expect the service to be good. I’m not always right about that, but I still expect to get good service. After all, that’s the least the store can do. If they aren’t willing to even give me good service than what reason do I have to ever come in again?
  • Handling Complaints - By: Janice Jenkins
    No company can avoid it completely. Eventually you’re going to have a customer come in who’s angry with you. There simply isn’t a way to please everyone, but how you handle a customer who’s mad can do a lot to ease back any potential damage and improve your standing with them in the end.
  • Office Desks Height Adjustability - By: Mandeep Singh
    Up until about 10 years ago most desk top heights were fixed at around 72cm from the ground. There were some manufacturers who offered height and tilt adjustable desks, but these were mainly for specialist requirements such as designers and draftsmen.
  • A Full-time Business Earning 6 Figure Income on eBay - By: Ila Bhatt
    If you want to run a full-time business earning 6 figure income on ebay, you should start thinking about customer service in a big way. Contact the winner, and congratulate them. Describe the item they have won and how the item will be shipped. Once the payment and shipping details have been taken care of, contact your buyer again. Furthermore, you should issue refunds promptly. I had customers who request refunds which I promptly refunded and they ended up buying more items from me over the long run. Why?
  • The Three Musts for Effective Customer Service and Postcard Printing - By: Rachelle Lim
    Customer relationship is very important to your business. Here are three important guidelines that you must master for your effective customer service and postcard printing.