Wish you could charge more? Or spend less time convincing people your product or service is worth the price you’re asking?
You can, just by adding a few words to your website or sales pitch.
Did you explore the list of values in last week’s blog post? We’re going to increase the perceived value of your product or service by describing benefits (not features) that mirror what your customer values. If we’re talking about your website, this section is called the “Value Stack” or “Value Proposition.” But this type of language can be used when doing one-to-one sales, too.
You raise the value of the product or service you sell when you describe the benefits your customer experiences.
Let’s use lawn mowing as an example. Say you charge $100 to mow your customer’s lawn every week. How can you double the perceived value so that paying you $100 feels like a no-brainer?
- We show up on time, every time so you never face a weekend with an overgrown yard
- Your lawn will look so perfect you’ll be the envy of the neighborhood
- We will do your spring clean up, fall leaf raking, and winter snow removal so you’re covered all four seasons with a company you trust
These tap into the values of “Reduces Anxiety,” “Quality,” and “Simplifies.”
Your $100 price tag now looks like a deal. And you didn’t have to actually do anything more. No free line trimming, no coupons, no referral program. You just added words.
- Write down a list of 3 benefits your product or service provides customers. (Refer to Bain’s Elements of Value pyramid if you need help.) Write them out as a sentence and then simplify it down to a word or phrase.
- Add these to your website, your sales scripts, the side of your vehicle, your pitch deck…
- Raise your prices or overcome customer objections.