Before the information age products and services were sold on their quality and content. Value was more absolute. The industrial age would promote products by their quality. A Rolls Royce was a sign of excellence and price was relevant to standards.
Today everything is different. Think of children’s Christmas or Birthday presents. What excites them? They are stimulated by the box , the wrapper and the anticipation of what is inside. Once opened the content can be an anticlimax as the thrill was in the uncertainty ,not the goods.
In modern marketing the truth is the same. People will pay logically for their needs with their core income ,like a washing machine. However any spare money to be spent will be the result of emotions.
Information is like wrapping paper. That is the source of branding. Many computers are made by one company but are sold under different brands. The marketers goal is to convince the buyer that the product has quality or the information has content that adds value greater than the price tag.
How then can this blog help you earn more in you business. Firstly I would ask you to tell me if you are selling a product or a service. Products are often much of a muchness these days. The marketing approach to products is to focus on the wrapping. How can you find the edge over your competition by making that product more sexy.
The wrapping of products Adding Value Customers
1 Discount. Many people are looking for similar products that are cheaper which makes yours stand out.
2 Trust. A product that is well known or a Website with a good reputation will drive more people to buy.
3 Value. Fewer people will pay a lot of money for something that is more expensive. There are less of them (niche market) but they are will give you more money (See future blogs on sales funnels and up sales).
The wrapping of services Solving problems Clients
There are two types of service industry personal and collective . The aim of service based business is to solve problems
Collective services are usually contracts based, like the cleaning of offices.
1 Word and mouth. In contract services testimonials are the key to marketing. They rely on comments usually written down by satisfied customers on websites of the comments on videos after a motivational seminar. In services the purchaser wants to read, watch or listen to satisfied customers.
Personal services. Individual professionals, trades or consultants
A self employed surveyor , financial advisor , cardiologist or plumber comes into this category.
1 Word and mouth marketing. This time people will not be influenced by what they read. It is too important for that. They want personal recommendations from people they know or who have used the service before. Initially consultant should be prepared to discuss the clients problems with them for free on an individual basis. This personal touch adds to the future price.
Final thought Never discount personal services. ( you can give free introductory advice but then charge full fees,) Sometimes discount Collective services and often discount products.
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Peter Bull