How to Create a Value-Added Marketing Strategy for Your Small Business
Getting StartedNov 19, 2021

How to Create a Value-Added Marketing Strategy for Your Small Business

If you’re a small business owner, you’ve probably heard of the terms value marketing and value-added marketing strategies.

But what are these all about? Are these methods just about promoting how valuable your product or service is?

Not exactly, as you’ll see in this guide.

Yes, that’s certainly one component. But this strategy goes far beyond that, and the benefits far exceed basic consumer education.

In an eCommerce market that’s only getting more competitive, you can’t afford not to weave a value-added marketing strategy into your game plan.

That’s why we’re diving into everything you need to know about it today. You’ll learn why it’s definitely worth your time and how to implement some effective tactics ASAP.

Let’s begin by making sure we’re all on the same page:

What is Value-Added Marketing?

Value-added marketing is a strategy where you show potential customers how your product or service can benefit them.

Rather than loudly boasting about your unique selling points, which is what traditional advertising is all about, you’ll focus on putting your customer’s needs first.

All your marketing efforts will help make the connection between how your product or service adds to or makes their lives better.

Value Means Different Things To Different Customers

“Value” is often thought of in monetary terms (Is that really worth $20?). Seeing if something is truly worth its price tag is one component, but it’s not the be-all, end-all.

Value can be:

  • Economic (a great price)
  • Social (how others perceive someone with your product)
  • Psychological (how it makes people feel)
  • Functional (how it solves a problem)

The best products hit on a combination of these types of value (and ideally, nails all four!).

The goal is to highlight what your product can do for people rather than how great your product is.

So let’s say your highest value is psychological. Does it evoke feelings of relaxation and calm, or focused, productive alertness? Either of those outcomes is valuable right now. 

Or maybe your product or service has a high social value. So being seen using it is enough reason for people to buy-in.

Outlined like this, value marketing just makes good business sense.

But capturing more customers and sales aren’t the only reasons to use value-added marketing.

Why Should You Focus on Value Marketing?

In a crowded, overly competitive market, customers aren’t just comparing features anymore. They’re going beyond this to see what value brands can provide.

If a product doesn’t check one or more of the four value boxes mentioned earlier, customers will quickly move on to the next brand that does.

So providing this kind of value can help your small business:

Create a trustworthy brand that people instantly connect with.

Build better relationships with your customers --- faster. Once customers see how valuable your products are, you can nurture these relationships to encourage higher order values, repeat purchases, and more brand loyalty.

Doing so will also help you score more brand advocates. These customers will be more than happy to share your product or service with everyone they know.

So you’ll be expanding your reach to new customers without increasing your customer acquisition costs. It’s a total win-win!

You can see why it pays for every small business to use a value-added marketing strategy.

The next step is learning:

How to Create a Value-Added Marketing Strategy for Your Small Business

Follow these tips, and you’ll start to add value to your brand that your existing and potential customers will see right away. Cue the smiles and sales!

Step 1: Nail Down These Specifics

For value marketing to work, you must be clear about your target audience and the value you bring them.

To do this:

  1. Define your target audience
  2. Understand their unique set of challenges, wants, and needs
  3. Determine how you can solve or fulfill them (i.e., provide value)

If you don’t have a clear picture of these three facts yet, or worse, you’re making the mistake of trying to attract everyone, this is definitely your first step to tackle. 

The rest of the tactics in today’s guide are based on knowing those three factors, so you can’t skip this crucial step. If you want your efforts to be as successful as possible, you’ll need to complete this homework before moving on.

Step 2: Build Trust

Want a surefire way to provide value to your customers? Do some of the heavy lifting for them when it comes to researching the trustworthiness of your brand.

As customers compare products, they’re certainly examining your features and price. But they’re also deciding whether it’s safe to make a purchase from your brand, especially if it’s the first time they’ve come across it.

So they’re likely turning to customer reviews to see what other people are saying about your brand’s quality, customer service, value, and more.

You can have this ready for customers by displaying up-to-date reviews. These will give shoppers a glimpse into your brand from the point of view of other customers, which is more trustworthy than anything you could write on your website.

This shows you have nothing to hide and it features the value you offer from a different perspective -- one customers can relate to.

Step 3: Create a Loyalty Program

Another way to differentiate your brand beyond features and price comparison is to build a loyalty program.

These reward customers for taking actions like making a purchase or referring a friend. And they help your brand stand out in a very good way.

This strategy works on two values: psychological (getting rewarded for your hard work always makes you feel good) and economical (getting a discount for being loyal makes great economic sense). 

That’s why loyalty programs keep customers happy and coming back for more, which is exactly what you want.

You can learn more about building an effective customer loyalty program here!

Step 4: Share Your Knowledge (And Answer Questions)

Another way you can start adding value is to share your expertise for free in blog posts, podcasts, webinars, email courses, etc. 

Focus your content on helping your audience solve relevant problems they’re struggling with. Once you show people how and teach them that it’s possible to overcome their challenges, they’ll be more likely to see you as the solution to doing so. 

Answering questions your customers have can also show people that you’re able to help and have the experience and expertise to do so, which builds trust.

Take this route, and you’ll soon build a steady following who may then convert to loyal customers.

Just keep in mind that, while the goal is to eventually convert customers, you shouldn’t lead with that here. Instead, focus on how you can help and add value, then the sales will naturally follow.

The more you provide this type of solid advice, the more likely people will come to you for solutions (i.e., your product or service).

Step 5: Send Freebies

If you can reward your customers or shoppers with free gifts, they’ll see this as a bigger value than simply receiving your product or service alone.

Whether that’s free shipping or a free sample in their shipment (a better strategy is to use both), customers will instantly feel excited and appreciated. 

Perceiving the added value in your gesture, on top of the value your products provide, goes a long way to creating loyal brand advocates who can’t wait to make another purchase (and see what fun gift they receive!).

So come up with a few ideas for freebies (such as exclusive peeks into new products) with each purchase. And don’t be surprised if you score more glowing product reviews and loyalty reward members as a result!

Final Thoughts on Using a Value-Added Marketing Strategy

Once you show people how much value they’ll capture by choosing your brand, they’ll never think twice about shopping at your competition’s store.

They’ll not only instinctively choose your small business over others, they’ll happily leave 5-star product reviews and share their recommendations with their friends and family.

So you’ll have an uptick in sales, happy customers, and more referrals when you implement a value-added marketing strategy.

To reap those benefits, follow the tips in this guide, and you’ll be well on your way to improving your brand’s value and its bottom line.

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