Importance of Value Added Services

Importance of Value-Added Services

This blog will discuss the Importance of Value Added Services

What are the benefits of Value-Added Services?

The primary goals of a business are usually to fulfill a certain mission and earn profits. Value-added services can help if reach those goals. By providing these features, businesses can gain a variety of benefits including;

Attracting Customers:

Customers typically seek businesses that provide high-quality, thoughtful services and products. By adding value to your commodities, you can engage with audiences, attract more customers, and increase profiles for the business.

Standing out from the competition:

In most markets, customers have an overwhelming number of choices when they are shopping for products and services. Adding unique features for your offerings and customer experience can help the business stand out from the competition.

Increasing rates of customer loyalty:

Providing value consistently can encourage customers to return to a business again and support it over time. Membership discounts and loyalty programs can be especially helpful when trying to increase customer retention rates.

Consumers often seek out business that can provide value-added services. This is because these resources provide many advantages to customers. Here is some examples;

Getting Free products and services: Business often offer free merchandise or services as part of value-added service program. This means customers can get extra commodities when they make a standard purchase.

Getting a good return on your investment: When customers spend money, they usually want to get a good and long-lasting return on their investment. By investing in a value-added service, they can gain more value than they spent.

Building a relationship with a provider: By participating in value-added service and loyalty programs, customers can get to know a business provider and build a strong relationship with them. It’s beneficial to have a business or brand on which you can rely.

10 Examples of Value-Added Services

While they started as a type of strategy for the telecommunications industry, value-added services can be a superb business project for companies in many fields. Here 10 examples of value-added services in different sectors:

1. Subscription Services

Some companies may provide free trials for other subscription services to customers. They may also offer bundle packs to customers. For example, by purchasing a subscription to a movie streaming service, a customer may also get a free subscription to a different music streaming service.

2. Marketing

Marketing agencies can provide a variety of value-added services to attract customers. Along with advertising expertise, they can also offer content creation, email templates, pay-per-click management, SEO initiatives, and social media management. Many marketing agencies provide free, brief consultations to review the situation of a potential client and discuss how the agency could help.

3. Logistics

Supply chain and logistics management is a critical part of the operations of many businesses. With the advancement of e-commerce, companies around the world sell product online and ship them to customers. These businesses typically want logistics systems and services that reliable, efficient and cost-effective. Logistics companies can offer value-added services like cross-docking, which is a streamlined method for transporting products from receiving dock to shipping dock. Other examples include in-house packaging, return processing and kitting, which is the act of combining multiple products into one package.

4. Software

Software companies often provide 24-hour technical support as a value-added service for customers. As software programs can have a lot of different features and nuances, tech experts can answer customer questions, offer instructions, and even fix technical issues. Knowing they can get help with problems they may experience, customers may be more likely to buy from a certain tech company.

5. Health Care

Healthcare companies, hospitals, and other medical facilities can add value to their services to better support clients. Some examples include disease management programs, reimbursement assistance, nutritional support, and data products. They can also provide comfortable waiting rooms and facilities so customers can stay occupied while awaiting appointments.

6. Auto Services

Dealership and auto shops may provide value-added service to improve customer loyalty. They often offer complimentary refreshments, snacks, Wi-Fi and entertainment in the auto shop waiting rooms. They can also add value by providing free vehicle inspections or car washes when customer visit. Pick and drop facilities for service of vehicle from customer to auto shop and auto shop to customer.

7. Network Services

Network and mobile tech companies may provide various features to make their products and services stand out from others. Examples of these include ring tones, games, missed call alerts, and voicemail boxes. These features add value to standard telecommunication services, like calling and taxing.

8. Furniture

To increase sales, furniture retailers may offer extra services like design consultation, and interior decorating. This type of service may involve visiting the customer’s location, measuring the space, and providing design advice. By offering this additional support, these companies can encourage customers to buy furniture products and home décor.

9. Restaurants

Restaurants can provide unique experiences to guests to attract customers and increase customer retention. For example, restaurants often provide free meals or desserts to customers on their birthdays. Restaurants can also provide live music, and entertainment as a special feature of the establishment.

10. Educational Institutions

As there are many schools and universities to choose from, educational institutions can establish different value-added services to attract students to the school. For example, colleges may have special meal plans, and cafeterias to offer. Other value-added services universities and training institutions could include financial assistance and scholarship opportunities.

Conclusion

These are a brief overview of value-added services. Sastrageek also follows and adds value to its training programs from time to time for the benefit of its new and existing students.