14 Apr Added Value: What It Is And How You Can Use It
Delivering added value when completing a contract shows that your business can offer additional benefits to a client without increasing the cost of your services.
This could include offering extra value for the same cost, or providing a superior service to your competitors. Added value can also overlap with social value by providing services that will benefit the local community as well as the client.
Think of added value as your edge on the competition. If done well, your added value should make your business stand out as a cost-effective and efficient solution to the buyer’s needs.
To identify what you can deliver in terms of added value, ask yourself the following questions:
- What does your company offer in its services that your competitors do not?
- What additional benefits can you offer your clients without charging them more money?
- How will these added benefits significantly improve the experience of your clients?
Don’t Promise Value That You Can’t Deliver!
If you state that you can provide added value when working on a job, you must be able to back up your claim with evidence.
Any added value that you cite in your tender must be quantifiable, demonstrable, and measurable. Some common examples of added value that are easy to demonstrate in quantifiable terms include cost savings, value for money, and service innovations.
In addition, you must be able to prove that you can deliver the extra benefits without your client having to invest more money, otherwise, you will not be considered to truly be offering added value.
Using Added Value Effectively
Added value should be a complement to the core of your proposal. It should not overpower or undermine your key offerings, but should emphasise how you can meet your buyer’s requirements as stated in the tender document.
You should also ensure that your examples of the added value you can provide are tangible and relevant to your buyer’s needs. This is because if you offer added value that your buyer does not want or need, they may see this as proof that you do not understand their business or their requirements.
Also, any added value that is too vague can come across as meaningless. For example, a statement such as ‘We were able to offer a dynamic solution to the core problems’ does not outline any tangible benefits that the client received.
Don’t Overdo It!
If you include too many examples of added value in your bid, you may run the risk of providing examples that are not relevant to your customer.
Plus, overwhelming your buyers with examples of added value can create the impression that you are ‘trying too hard’ to impress, making you appear desperate and inexperienced.
And always remember that you should never charge extra for added value! Added value is just that – added – and therefore should not be included in your cost calculations.
Use A Few, Carefully Considered Examples
While you must be careful not to include too many examples of added value in your bid, you should also ensure that you provide a few carefully considered examples of added value to show that you are capable of meeting (and exceeding) the needs of your buyer.
If you do not provide any examples of added value, you may appear as though you have not adequately researched the client, or are not interested enough in winning the bid.
When choosing which examples of added value to present to the buyer, pick ones that complement the basic services you offer, provide the client with things that they really want, and help your business stand out from the crowd.
The Importance Of Delivering Added Value
Added value by itself will never win you a contract – however, it could be the deciding factor that puts your business ahead of your competitors.
If used well, added value can help you make a great impression on the buyers by offering them additional benefits that they want and need, while demonstrating that you have researched their business and identified what they are looking to receive from their contractors.
As such, any examples of added value that you include in your bid should be carefully considered and picked to fulfil a specific purpose.
About Bid And Tender Support
If you still have questions about how to best use examples of added value to boost your bids, we can help!
Our team of expert bid writers are highly experienced in writing tenders for a wide range of industries, and we make informed decisions about which examples of added value to include in bids on a daily basis.
If you have any questions about delivering added value or any other aspect of bid writing, we will be happy to help! Get in touch with our friendly team by calling 01908 382 414.
