Have you ever heard of adding value of a good, of a product, of a company, of a service? Do you know what this term encompasses? Believe it or not, it is something that matters. And a lot.
If you want to know the specific concept of this term, if you want to know how to find it in companies, products, services ... and how to improve it, then you have all the keys you need to know.
What is added value
We can define added value as "additional economic value". And it is that it supposes an increase in the value paid for a good or service because it undergoes a transformation.
For example, imagine that you buy a doll. This one costs you 10 euros. However, you decide to invest 5 euros more in putting a luxury job, with rhinestones, jewelry ... That is, the doll would cost 15 euros if you wanted to sell it to recoup your investment and the expense of the doll. But it turns out that you sell it for 55 euros. If we subtract the expenses, 55-15 euros we would have 40 euros. That would be the added value, what is gained in excess once the expenses we have made to transform it have been subtracted.
In other words, it is something 'extra' that allows to increase the price of that good or service due to the fact that it has undergone a transformation and it has been given more value.
En este sentido, each good or service could have a low, medium or high added value. For example: uterine
- Low added value: would be those goods and / or services where the transformation that takes place is minimal and there is not much to deal with. Being something insignificant, the added value it acquires is low. You are going to make little profit.
- Medium: they are those products in which a more elaborate process is taken to transform them, but that does not require a large investment.
- High added value: it is when these goods or services undergo an almost complete transformation, using advanced knowledge and techniques that give them more value.
Actually any product could fit into any of the classifications. An example, a t-shirt.
It would be of low added value if you just put an embroidered message on it. Of medium value if, for example, you tie it with a tie dye with an original and curious shape. And it would be of high value if you also added rhinestones and even a technological system in which the colors of the shirt itself move to the rhythm of the music.
In addition, you should know that it is not only a matter of goods and services. You can also be part of people, companies ... Let's see it next.
Added value of a company
In the case of a company, the added value may well match the benefits you get. That is, the difference between income and expenses, since that has been due to the good work that it carries out.
Of course, the added value can also be offered through an improvement at work, in the relationship between workers and employers ...
Added value of a person
Imagine a person. This one has no studies and works on what they have been taught, but without more. Now, imagine that person without studies. He works the way he has been taught, but applying passion and obtaining results that others are not capable of. Do both have added value or only the second?
Actually, both have added value, but the second has more than the first.
En general, the added value of people refers to these studies, knowledge, training ... as well as experience, know-how, skills, abilities ...
How to find it in companies
Finding added value in companies is not something that can often be seen with the naked eye. However, it is achievable. For this, it is necessary establish a customer profile to find out what they like, what their needs are, what they are looking for ...
Once the sale occurs, the degree of satisfaction must also be reviewed; that is, if he is happy, if you could improve something, etc.
Of course, companies can not only find added value in products and / or services, but this can also be found in the people who work there, who can contribute something more to the business and even improve it.
How to improve it
Although it is always said that everything is already invented and that it is very difficult to offer users something better or something that is totally unique, it can still be achieved.
In the case of improve the added value we are not going to tell you that it will be easy, far from it. But you do have several ways:
- Offering something that no one else offers. It can be something material, something intangible, a special discount, a product or service that curls the curl of what others offer ...
- Add an extra. That is, put something else that improves its quality. It can also be faster ...
- Exceed customer expectations. This is perhaps the simplest. Imagine they ask you for a product. And you send a thank you message, in addition to the typical one with the purchase confirmation, invoice and others. Then, you prepare the shipment and make it personalized. When you receive it, your expectations, compared to the rest of the purchases you make online, will be exceeded, and that will make it feel important to you. And to buy again if the opportunity arises.
In this case, technology and details can be the key to improve and give greater added value. Relating more with your customer, the ease of buying from you, the immediacy or the personalization are different points in which to aim to increase that value.
Value elements
A product or service is important when it serves to satisfy a customer's desire or need. That is to say, it has value if people demand it. Therefore, the elements in which this value is established are:
- The power to satisfy that desire or demand.
- The price.
- The quality.
- The picture.
- What it brings.
- The competition.
All this is a set that is part of that good or service and that endows it with more or less added value.