Perceived value continued

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:*

  1. Improve the design of your product’s packaging and labeling.
  2. 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.
  3. Develop your unique selling proposition.
  4. 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 MessageBuilderTM 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.

*Taken from Zero to One Million: How to Build a Company to One Million Dollars in Sales (McGraw-Hill) by Ryan Allis.

Cheers,

Ryan Allis

Total
0
Shares
Previous Article

Improving your product's perceived value

Next Article
network

Beyond Bagels and Coffee - New Ideas to Network

Related Posts
Read More

The Fear of Commitment: Why ‘No Obligation’ Is Music to Your Customers’ Ears

We live in a world with endless options and opportunities: where to live, where to eat, where to travel. Things to do, things to see… …Things to buy.  With so many options (and many at their fingertips), why would customers want to commit to something? They wouldn’t. And often don’t. After all, having too many...
home-based businesses
Read More

The Value of Home-Based Businesses to Economic Recovery

The challenge of America’s economic recovery, in the wake of the COVID-19 pandemic, is to spread it to every community – and especially those that have been historically excluded. The key to meeting that challenge is to appreciate the civic and economic value of an overlooked resource: home-based businesses. There are about 16 million home-based...
top fintech startups
Read More

Top Fintech Startups in the Midwest 2022

The Midwest is rapidly becoming home to some of the best fintech startups in the country. Chicago, for instance, is becoming a top tech hub for fintech startups, seeing massive growth and funding for its companies. In Columbus, the city’s long history with top banking institutions has created a fertile ground for fintech startups to...
Read More

WJR Business Beat: Job Switchers Rewarded with Higher Pay (Episode 406)

On today's Business Beat, Jeff Sloan talks about how it's going to be more difficult and costly for small businesses to hire the best talent because job switchers during the pandemic have seen significant salary hikes. Tune in to today's Business Beat for more:   Tune in to News/Talk 760 AM WJR weekday mornings at...