What Value Does Your Client Perceive?
Your marketing should resonate with your clients in a way that creates a perceived value. The key is to create a value that is the same as or greater than what your clients perceive the product or service is worth. So how do you do this? You need to know who your clients are and what they really want so that you can offer them something that will give them pleasure. Whether that pleasure is a direct outcome of the purchase, like a five-star dinner, or relief from pain, like hiring a consultant to reduce project creep, it must be known and understood by your target market.
Take a look at this TED.com video by Paul Bloom. Bloom describes a variety of items and why they would hold greater than expected value. For instance, a set of old golf clubs has value to some, but if it has a known history, like they were owned by JFK, it may create pleasure in the purchase of the clubs and have a higher perceived value. Using Bloom’s analogies we can say that, “what they believe about what they are going to experience with your product or service will affect their perception of the value of your offering.”
If you or your company has known value your products or services already have a greater value to your clients and they will believe that their purchase is worthy of the price you are charging, even if someone else does not. To create this understood value you will need to work on becoming the expert and be well known in your industry or niche so that your product or service will have more value to your target market (not just anyone).
This said, make sure you are giving great value and you will continue to increase your client base.
TED.com video – Paul Bloom – “The Origins of Pleasure”
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