This week my wife received a gift from one of her best friends: A box from Rituals. Getting a gift is always nice, but this one was special. What caught my mind was the label on the box which stated: This gift is the first step towards creating beautiful memories. Now how powerful is that! Likely the content inside the box was just a scrub or a lotion – nothing ‘special’. However, Rituals made it special, simply by adding that simple label. The cost? Neglectable. The value: Priceless. If I was in the store to buy it and they’d present me two options – I’d pick this, and I’d be prepared to pay a premium for it. That’s marketing at its best. It’s remarkable.
You all know this is what gets me going. If it is so simple to increase the value perception of a box of scrub or lotion, just imagine what’s possible if you apply this to the business software solution we sell. What would it do to creating that positive tension amongst your ideal customers? What would it do to the price they’d be prepared to pay for it?
We too often get bogged down into the features and the functions (the lotion and the scrub), and forget to think what our customers are really after (the experience).
Sure, your product is as good as it gets. It’s the highest quality and it does exactly what it says ‘on the tin’. However, what your customer is prepared to pay for it all depends on how you communicate its value and what experience you create around your product.
So, picture that ‘Rituals label’ on your product. What would it say? What is the promise you make to your ideal customers? What’s the positive tension you create in the brain of your customers that has the power to instantly double the value of your solution in their minds?
Looking forward to see your ideas