Tips To Make a Value-Added Marketing Strategy for Your Small Business
- Posted on May 20, 2023 by Robert
- Reading time about 6 minutes
Startups and small business owners often struggle to make a place in the competitive eCommerce market. That is where value marketing and value-added marketing strategies come into action. What exactly are they, how do they work and what are the benefits they could bring to enhance customer loyalty?
Let’s check out everything you must know about value-added marketing and how you can add value with a well-crafted loyalty program for small businesses.
Significance of Value-Added Marketing
Value-added marketing can be defined as the strategy that helps businesses to create and offer additional value to their customers by going beyond their product or service offerings. This can be done by showing potential customers how your product and service will benefit them and add value to make their lives better.
Rather than keeping the focus on just unique selling points, brands must focus on putting their customers’ needs first unlike the traditional advertising approach. When you focus on value-added marketing, all the efforts will help to make a connection between customers and brands showcasing how products and services help to add value.
Tips to Create a Winning Value-Added Marketing Strategy
Here are some of the best tips that can help your brand add value to your existing and potential customers-
– Know the Value You Like to Offer
Ensure that you know who your target audience is and understand their unique set of challenges & needs along with effective ways to fulfill them. Having a clear picture of what you need to offer through value-added marketing services is a must.
– Gain Trust
To build trust from your first-time visitors, it is important to make them feel that it’s safe to make the purchase apart from the features and price. Ensure that you have up-to-date reviews that help shoppers to make up their minds to make the purchase.
Reviews help buyers to get a glimpse of your brand from the point of view of others, which is more trustworthy than anything.
– Build Customer Loyalty Software Solution
Another way that can help to differentiate your brand from other competitor stores is to build a dedicated loyalty program that goes beyond your features and price. The program should reward customers for their normal activities with your brand such as purchases, referrals, and exclusive benefits that make your brand stand out from the crowd.
The two values that you must focus on providing are psychological (rewarding for the hard work providing a good feeling to customers) and economical (letting customers save with discounts as rewards for being loyal).
– Share more about your brand expertise
Letting your customers know about you and your offerings for free in the form of blog posts, webinars, and email courses can be a great way to add value. Keep the focus on content that helps your audience solve basic queries and problems without the need of contacting your team.
Show them how they can resolve any issue in the right and easily accessible way, which will make them more likely to become your long-term customers. Helping them timely will help in building trust with your brand.
– Offer Free Gifts
It’s always the best idea to reward your shoppers with gifts rather than providing just the product and service alone, which helps to provide a bigger value. Another way to offer gifts is free shipping or extra product sample along with their orders, making customers feel excited.
Going the extra mile to provide more value apart from products can be a good way and freebies such as exclusive peeks to new launches with orders can help in winning more customers’ hearts and positive reviews in the coming time.
Reasons Why Small Businesses Need Value-Added Marketing
Gone are the days when customers just compare features and prices when they look for the brand they want to associate with, they are going beyond this to see the value that brands can provide. If the product and service don’t meet any of the value boxes mentioned earlier, customers will move to the next brand.
However, if you focus on providing value-added marketing, you can offer value to customers and help your small business grow.
– Build a trustworthy Brand
Offer marketing services that are relevant enough to make people instantly connect with the brand
– Nurture Better Customer Relationships Faster
A brand can easily nurture the relationships once they see how valuable your services and products are for them, which helps to boost higher order values, repeat purchases & boost brand loyalty.
– Gain More Brand Advocates
Once your brand wins the trust of the customers, you can turn them into brand advocates easily as they are more likely to share your product and service with everyone they know.
– Bring In New Customers
Expanding your reach to a new target audience becomes easy with referrals from existing customers without the need of increasing customer acquisition costs.
Additionally, value-added marketing helps small businesses build trust and loyalty with their audience, creating a sense of brand value that attracts customers to their business. By consistently adding value to their existing offering, small businesses can create a loyal fanbase and foster long-term customer loyalty. Ultimately, value-added marketing is a powerful tool for small businesses that can help them stand out in their respective markets, grow their audience, and drive sustainable growth over the long term.
After going through the blog, it is clear that value-added marketing takes an active role to help startups and small businesses gain trust and boost loyalty with the audience creating a sense of brand value that attracts customers for a long time. Keep the focus on adding value to existing offerings and ensure that you build a strong fanbase and build long-term customer loyalty.
If you can show how much value they can get by choosing your services and products, they will never go to another brand when it comes to shopping. They will not just choose your brand over others but also leave 5-star ratings and share their recommendations with family and friends.
Novus, an all-in-one Scalable Customer Loyalty and Rewards Management Software has all the expertise to help brands create value-added marketing strategies that can lead to higher sales, satisfied customers, and more referrals. Get in touch with our experts to know more.