How to add ‘extra’ values for your product

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When customers seek product locally or online, they are always looking for the ‘extra’ value from the product they purchase. That can include sex appeal, joyful experience, self satisfaction. So how can you add extra values for your product?

Cheap product? or Joyful experience?

I am about to go to the local farm to pick up some blueberries today. This so called “U-Pick” service let you pick up as many blueberries as you want and purchase them at lower cost than market value. My personal reason to go there to pick up blueberries is to eat blueberries, because I really like them. There is no doubt that this is the ‘main’ reason for many people to do this. So what’s extra values included in this service? For some customers, it’s the ‘cheap’ price that they pay to eat blueberries. If you are an accountant or economist, you know that it’s not really cheap. The time you spent picking up blueberries can be actually used to work extra hours for your job and earn more money to just buy bucket full of blueberries. So for those custumers,  it’s the social experience you enjoy with your friends or families (unless you come alone). Notice that for either custumers, you are providing at least one kind of extra value from this service.

Wider demography

As you can conclude from the above, you can target different kinds of customers at same time if you provide extra values for your customers. Those extra values does not always have to be monetory. Yes, you can provide coupons and discounts, but you can create similar effect just by providing customers extra joyful experience.

Extra values

So how can you add extra values for your product? Well, if you are in food industry, you can provide convenience and time saving benefits like Deli and pizza delivery. If you run web service, you can provide chatting assistance to provide ’safety’ benefits. Or if you sell product online, you can set up forum for users to help each other on issues with product they purchased from you.

Learn from others

As I always say, you should study the business model of successful businesses in your industry and figure out the secrets that attract customers.