More on Establishing Your Value

I recently read a post by one of my Facebook friends regarding establishing value:

What is a good way to guarantee high price services (such as graphic design) besides guaranteeing a membership fee?

We agonize over this. A great way to start is to make a list of how many things you do that add value, whether you are currently charging or not. When you are done, put a $$ amount next to each value item. My list has 24 items.

I used to think I worked primarily in a commodity driven industry (printed t shirts.) When all is said and done, our clients will have a much better idea of exactly what we do, how it will benefit them, and what to expect. It also acts to level the field between you and your competition because I guarantee none of your competitors are doing this. If your customers are shopping, you have now given them a comprehensive list for comparison of apples to apples.

Here are some of the things you use to separate yourself from your competition:

    All aspects of your product or service.
    Associated services related to your product or service.
    Payment terms.
    Your Guarantee or Risk Reversal.
    Quality practices (list the steps.)
    Material handling and check-in procedures.
    Your vendor resources.
    Overall resources (machines, building, space, etc.)
    Reputation.
    Association with your other customers and clients.
    Service policies.
    Client education.
    Bundles/bonuses

You get the idea. The list can be huge once you sit down and really start to think about the REAL value you provide to your customers/clients.

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