Perceived value continued
Ryan Allis is the CEO and co-founder of iContact, a leading on-demand email marketing service. As CEO, he's managed iContact from its start in July 2003 to its current size with more than 90 employees and 25,000 customers worldwide. In 2005, Ryan was named by BusinessWeek as one of the "Top 25 Entrepreneurs Under 25." Ryan is also the author book Zero to One Million: How I Built a Company To $1 Million in Sales and How You Can Too, published by McGraw-Hill. As an email marketing expert, Ryan will provide guidance in his blog posts on how to enhance and improve your online marketing campaigns.
Latest posts by Ryan Allis (see all)
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Last time, I began the discussion about improving the perceived value of your company’s products. Perceived value is what customers think your product should cost, or more specifically, what value they think it has to them and what they would be willing to pay for it. You can effectively frame your content in your email newsletters to help improve your product’s perceived value. The four remaining methods are:*
- Improve the design of your product’s packaging and labeling.
- Distinguish your product from your competitors’ products and tell why yours is best. You can do this in your email messages by emphasizing certain aspects of your product that is different or better than your competitors’ products. You can also point to your customers’ positive testimonies to illustrate that you have a better and easier-to-use product.
- Develop your unique selling proposition.
- If you are selling this product from you web site or through your email newsletters, make sure they are nicely designed, easy to use, and free of typos and grammatical errors. iContact makes this easy for our customers by providing over 300 professional templates for them to create their newsletters. Our customers can use iContact’s to easily create professional HTML newsletters in a matter of minutes — without knowing any HTML. There is even a “Paste from Word” function available so customers can spell check their content in Microsoft Word before pasting it into their email messages.
After you’ve improved the perceived value of your product, you may be able to increase your price without causing a decrease in net profits. I hope you have a great weekend, and I’ll be back early next week with more advice for your email marketing campaigns.