Performance Business Owners: Consistently Seek To Add Value | Performance Racing Industry
Blog
Performance Business Owners: Consistently Seek To Add Value
By Christine Corelli on October 20, 2015

Successful businesses consistently seek and implement new ways to add value for their customers. They realize and exploit the fact that much of the value they provide to customers is not only a superior product, service, or workmanship, but the superior knowledge they possess in their line of business. They even become known as value-added businesses because they know how important the knowledge and expertise they provide is, and how much it impacts their bottom line.

Below are a few examples of how to add value in addition to providing knowledge:

* Extend your warranties or return policies.

* If you own a performance automotive service business, stay open later hours to accommodate people who work late. Provide ”Tips" on car or parts maintenance for those who would like to know how to maintain their vehicles.

* Provide a "Value-Added Package Deal" by bundling products or services at a great price.

A construction equipment distributor has a value-added service practice that few others have. When a machine is delivered, they instruct the buyer to block out three to four hours for the "delivery presentation." During this period, the sales person and a service technician educate the buyer and operator. Usually, the construction company president, the equipment operator, and the mechanic are included.
 
The sales person and tech make a thorough one-hour presentation on the machine's features and benefits, the next hour on critical safety aspects and procedures, and the next hour on maintenance. They allow the last hour for Q & A. A few hours after leaving, the sales person makes a follow-up call to ask if they have any further questions. Then, the sales person and the service tech call again two days later to ask if they can be of further service.

This is a great example of a value-added practice. In addition, it helps to build profitable relationships. Not every customer has the time, but it's a great idea.

* Same-day service, if possible, is how a number of companies are adding value.

* Throw in some extra features or add-on's for free. Ship for free. Send reminders. Fix something for free.

* If you are asked to quote a project, educate the customer as much as you can…. And do it far more than the competitors will do it!

Christine Corelli of Christine Corelli & Associates in Chicago, Illinois, is best known as the author of the popular book, “Wake Up and Smell the Competition.” She has been an acclaimed speaker at numerous industry events, including the PRI Trade Show and the SEMA Show. Contact her at 847/581-9968.

About the Author
Christine Corelli's picture
Christine Corelli of Christine Corelli & Associates in Chicago, Illinois, is an author and acclaimed speaker at racing and aftermarket industry events, including the PRI Trade Show and the SEMA Show.
Recent Post
Blog Archives