I recently came across an article by John Graham from Graham Communications with the above title. He recounts the following scenario:
Just as the insurance agent was completing his presentation for the renewal of the client’s business insurance program, he took out a list of what he described as his agency’s "value-added" services. He asked the client to review them and to indicate those that were important to him.
As the business owner went down the list, he concluded that none were of any value. They were little more than "throw-aways."
For several years, sales presentations were packed with everything extra the customer was getting by signing up for a service or purchasing a product.
Now, it’s all gone.
For the most part, what was touted as "value-added" was little more than smoke and mirrors, a way of making it appear as if customers were getting more than they were paying for. There was only one problem with most value-added posturing - it died because what was being "added" was of no "value" to the customer.
He goes on to list the following six powerful sales incentives of “It’s all about giving in order to receive”
The power of free – the proposition of value without cost
The power of playing with the merchandise – building a relationship with the brand
The power of personalized experiences – the value of a personalized product
The power of enhancing the purchase – satisfying what customers value most
The power of a "second home" experience – making the customer feel at home
The power of expressing individuality – individuality is about personal empowerment
Imagine a scenario where a client may enjoy the above and more with financial service products (put telecommunications/broadband in the place of "Financial Services").
In the age of the consumer many of the sales techniques and products will need a revamp to meet the heightened expectations of the consumer and even more so when these expectations are fueled by a political will to question the value that consumers have been receiving until now.
