Adding value to products and services are one of the best ways to differentiate a business and grow revenues.  There are three ways to create customer value:

• Solutions that Increase Customer Revenues
• Solutions that Reduce Customer Costs
• Solutions that Reduce Customer Risk

Businesses who rely solely on pure product sales risk competing on commodity pricing.  That may work for businesses like Costco but generally it’s a brutal battlefield littered with failures and dead businesses.  Ultimately the business that wins is the creates customer value.

Increase Customer Revenues

Do you have value added solutions that will help your customers increase their revenues?  Often businesses who can increase their customers revenues can charge more than competitors.   Find ways to help an organization bring in more customers, service them brilliantly and efficiently and sell more through repeat business.

Reduce Costs

Operational efficiency is a positioning cornerstone for many businesses, especially in the technology space.  Costs can be reduced by streamlining processes, reducing overhead and headcount, cutting production costs and on and on. Cost reductions are always a point of pain for businesses.

Reduce Risk and Manage Compliance

Regulatory compliance spans across countries that cover everything from finance (i.e. Sarbanes-Oxley) healthcare (i.e. HIPPA) national security (Patriot Act) etc.  Poor planning or lack of planning for disaster recovery or catastrophic events can destroy a business.  Experts who create customer value by educating and implementing systems and processes can ensure a business survives while also creating market confidence.  Would you do business with a firm that couldn’t safely manage your information and assets because they didn’t follow compliance regulations and manage risks?  Probably not.

These are just some ideas businesses can use to create customer value.  Does your business follow any of these?