Certain Things Will Always Be Of Value

There are many things in life which are of value to most people throughout the world. Take gold for instance. The monetary value of gold fluctuates over the years. However, its value as a sought after item never diminishes. In countries like China and India, traditions dictate that gold change hands during occasions like weddings. However it is not the purpose of the writer to suggest that one invests in a startup dealing in gold, though one could if one wants.

Besides gold, there are many other things, tangible and intangible which are of great value to most people. Take quality as an example. Everyone appreciates products of good quality. Whether its new or used, quality enables the product to express its desired value. In fact, quality is the factor that enables used luxury products to command rewarding prices for those selling it. And it is obviously the factor that pulls consumers into buying it. People appreciate quality in many products like furniture, shoes, personal computers and many others where there is a thriving market for them which are pre-owned. While this appear to be stating the obvious, what is not so obvious is that products of poor quality have difficulties in reaching the after market. There is simply no demand for such poor quality products.  It is important to note that quality need not necessarily mean premium quality with the accompanying premium prices. What it means, in the context of this post, is that there is demand for these products which are pre-owned. In other words, the used product performs almost as well as the original, give and take a bit for wear and tear.

Another important intangible is customer service. Most of us have experienced poor customer service to know what great customer service is. Besides the face to face customer service that we are all aware of, there are situations where customer service is rendered online such as in ecommerce. While one could see the person in a face to face encounter, it is probably not so online.  In today’s fast paced society, consumers expect answers almost instantly. Sometimes, it takes hours or even a day or longer for a customer service representative to respond to a query. By that time, the consumer would probably had purchased either a different or same item from another seller.  The lack of responsiveness converts into loss of sale for the seller.

Providing timely and sufficient information about the product is the next key thing. With such information, consumers can make an informed purchase decision regardless of price. If there are significant gaps in the information provided, the consumer may balk or consider other products where more in known about it. It is folly to just state what the product is and expect the consumer to ask for more information. Whether the product is shown in a physical form or on a webpage, if the information is missing or not easily accessible, then the likely result is lost sale.

The display of products in their most alluring posture is another critical thing that some sellers overlook. For example, if one places an expensive product that one hopes to sell in a room full of items haphazardly placed, then the chances of making the sale at the desired price is greatly diminished. Many consumers would like to view the product in the best light to appreciate the value attached to it. The same goes for products featured online. Display it incorrectly and the consumer may never click on the link to reveal the details of the product.

Thus for startups, the recommendation is to deal with quality products which retain their value even after the owners do not want them anymore. Secondly, make providing great customer service by being responsive a key pillar in the startup. Give as much information and in a clear manner about the products as possible. If many consumers ask about the same thing over and over, it is apparent that such information about the product should have been provided in the first place. Finally, make it a point to display the product is as appealing a manner as possible.