Adding value as a sales strategy doesn't rely, like discounting or price matching, on the consumer getting more for less. Instead, with value-added sales, the consumer gets more for the same price or even for an increased price. The key is to add value significant enough that customers feel the cost is well-worth the value received.
You can expand the value-added strategy and apply it to your entire business; by doing so, you're creating a business that systematically provides so much value to customers that they're happy to pay what you ask, and even feel privileged to do so.
The Three Questions to Help You Add Value
To add value to a product or service, ask these three questions:
1. What's the minimum acceptable offering for this item?
You want to establish a baseline of acceptability. Look at your competitors and see what they're offering. Are there gradients or levels? What's the industry standard? What will customers accept?
2. What's our acceptable level?
Are you currently offering this item at a level above or below the minimum? If below, you may be dipping into price matching as a sales strategy, which can be very dangerous. If you're already offering more than the minimum acceptable offer, how much more? Why? Is it sustainable? Do customers seem to notice or care about your 'extra'?
3. How can we dramatically increase the value our customers receive with this item?
This is the key question. You need to think about what customers will value and what you can afford to offer. Find out where those two requirements intersect, and use your options there to add value.