Top 5 Ways to Add Value to New Products

What is a value proposition?

By definition, a value proposition is a statement that summarizes product features, uses and differentiators while taking into account the customer’s wants and needs. Put simply – why would a consumer choose your product over the rest?

The value proposition serves as the north star for compelling messaging, bringing together all of the things that make a product great and boiling it down into a digestible package. The key driver behind a great value proposition? You guessed it: a valuable product. If you’re in need of ways to enhance the value of your product offerings, read on.

How to increase product value

While there are a multitude of ways to add value to products, the overall perception of a product’s worth comes down to the degree to which it meets or exceeds a customer’s expectations. Hitting the mark on at least one of the below helps your product to stand out among the rest, building consumer trust and loyalty with your brand.

• Enhance quality – Buyers are looking for products that will last, and are often more willing to make a greater investment when they know they’re purchasing a high-quality, reliable product. In fact, quality outranked price as the most important purchasing factor in a report by First Insight.
• Improve user experience – Meeting consumer needs with your product is one thing, but exceeding expectations and providing seamless customer experience has a huge impact on perceived product value. Anticipating end use environments, possible quality issues, consumer questions and more can help to solve problems ahead of time and deliver greater peace of mind to your end user.
• Offer unique points of differentiation – In a global marketplace, standing out is key. Exclusive product features directly offer the consumer something of value that the competing products don’t have. Whether these elevated features come in the form of product design, new functionalities, advanced options or material enhancements, developing your product with unique benefits contributes to an elevated perception of a product’s value.
• Share product expertise – Ultimately, your total ‘product value’ extends beyond the product itself. Real value comes with expert advice, unmatched customer support and resources that relate to your product and how to get the best use out of it. Doing so helps to humanize your brand and build trust between you and the consumer, ultimately contributing to a better customer experience.
• Continue to innovate – Demonstrating you care to improve your beloved product shows consumers you’re listening to their needs by investing in improving their experience. It also shows your willingness to adapt to changes in the market, whether in the form of improvements to material choices or supply chain practices, anticipating regulatory changes, answering consumer concerns, or more.

How can antimicrobial protection add value to your product?

Product manufacturers who choose to add antimicrobial technology into their product lines demonstrate a clear commitment to all of the value drivers listed above. Built-in antimicrobial solutions provide a special product feature that benefits the end user with a more durable, high quality product that fights the growth of degrading microbes 24/7.

With 72% of adults* being concerned about the presence of bacteria in and outside of the home, there’s great value in providing products that provide an ‘always on’ product feature that works at the microscopic level. Antimicrobial technologies not only ward off bacteria, but can also help reduce the presence of odors and unsightly fungal growth, preserving visible cleanliness and structural integrity of materials.

What materials can be protected by Microban?

Microban’s expansive assortment of antimicrobial additives are not limited to specific materials. Our technologies can be seamlessly integrated into any material across hard and soft goods without disrupting existing product look, feel or functionality.

Hundreds of brands around the world manufacture a variety of end-use products with Microban antimicrobial technologies spanning across environments from the home, to commercial spaces, to the healthcare sector and more. Our teams work closely with partner organizations to customize our formulations to fit desired efficacy goals based upon the product environment. Treated products can be developed to be antibacterial, antifungal, or both.