So just about everyone who is reading this is interested in making money, right? I mean, why else would you be here?
Yesterday I was trying to deconstruct this whole process that we are all apart of. Whether we are selling our own products, promoting others, selling our article writing services, whatever it is, we're all doing the same thing...
We are making a trade.
All of us are trading something we have for something someone else has. For a lot of us that means trading knowledge for money in whatever package that knowledge may come in.
The funny thing about two people making a trade, is that it only seems to occur when each person values what they are getting more than what they are giving.
Obviously someone selling something values their customers money more than they value the thing that they are selling. The customer must value what they are getting, more than the money they are giving away. To put it simply:
For someone to buy a product or service from you, they must believe that your product or service is worth more to them than the money you are asking for.
So, we're always hearing people saying stuff on here like "Add lots of value" but what exactly does that mean?
Now there are two types of value. There is perceived value, and then there is real value.
Perceived value is how good your product or service SEEMS, regardless of how good it actually is.
Real value is how good your product actually is, regardless of how it is perceived.
You can give something a high perceived value without it actually being good. You can write the most amazing sales copy, have the best graphics, have a million testimonials, you can even have the endorsement of a big name GURU! Having a high perceived value will get you a lot of sales. It will get people excited, they will pull out their credit cards, and they will buy.
But if you don't have any REAL value, then you will get a lot of complaints, a lot of refund requests, your reputation will be tarnished, and you will quickly be out of business.
Now on the other hand, what if you had a lot of real value but you didn't have a very good perceived value? You have an amazing product or service that people love, but the sales page isn't that good, the sales copy is pretty terrible, and things just aren't "flashy" enough. You're not giving away all the bells and whistles.
In this situation, you won't have sales come flooding in very fast, but guess what? The customers you have will appreciate how much you helped them. You will have a low refund rate, and your reputation will slowly begin to grow as someone who DELIVERS value.
If someone has both a high amount of perceived value AND a high amount of real value, that right there is a formula for quick success.
So how do we add value?
You can add perceived value by becoming an expert sales copy writer, or hiring one. Good sales copy should get the customer excited. It should put a spotlight on the huge problem your customer has, and offer them the light at the end of the tunnel. You can also add perceived value by having insanely good looking graphics and web design. You can have a premium sales video instead of just a sales letter. You can have testimonials (Although if these are accurate testimonials and not just from JV partners, then wouldn't that also be a sign of REAL VALUE?).
If you really want to give the perception of value, then your product or service can be highly priced! People often believe that you get what you pay for. So when people see something that is a higher price compared to other like products, they automatically assume yours must be the best.
Now, adding all of that perceived value is a complete waste if you can't DELIVER real value. You must not only be able to back up your claims, but you must be able to EXCEED them. If you have perceived value, but no real value, you are essentially just scamming people into buying a horrible product. This is immoral, and a good way to go out of business.
How do you deliver real value? If you're selling an informational product, then the only way to really deliver value is to get your customers the results you want.
In the end, all your customers want are results. Did they want to learn to play the piano? Then they should be able to at least play chopsticks when they are done with your product. Did they want to learn to train their dog? Spot should be able to sit on command by the end of the week. Did your customer want to learn how to get a girl's phone number? Help him get a date.
If you can provide the results your customer wants, then you have REAL value. If you are just rebundling some old PLR, then how can you guarantee that you are really getting your customers what they need?
When some people release a product, they add 10 more BONUS products on top of it. Usually this is just to increase the perceived value of a product, although the individual bonuses CAN have a real value as well. But, if these bonuses don't help your customer get the results they want, then have you actually added any more value? Not likely.
The easiest way to help your customers get the results they want is to lay it out for them. If A is their problem, and B is the solution to their problem, then it is your job to tell them, in the simplest, most efficient way possible how to get from A to B. The faster you can help them get from A to B, the happier you will make them.
One of the best ways to give your customers both perceived value and real value at the same time is to give them RIA, or Results In Advance.
This means if their journey from A to B has multiple steps, give your potential customer steps 1 and 2 for free before they even buy. They will be able to put the steps to use, proving to them that your methods CAN deliver what they need. Someone who has already had success using something you've given them for free will be WAY more likely to buy something from you.
So just to recap on everything:
If you want to sell a product or service, make sure the customer believes that your product or service is worth more to them than the money you're asking for it. Do this by adding PERCEIVED value.
If you want to KEEP your customers and not get refund requests, deliver on their perceived value by giving them REAL value.
Delivering real value means getting your customer the results they want, and that you promised them.
To really add value to the whole process, give your customers RIA, or Results In Advance.
So that's about it from me for now. These were just some thoughts I was having recently and I wanted to share it with all of you.
If you're struggling with your business, take a step back. Are you just trying to make a buck, or are you actually delivering value by sincerely trying to help your customers get the results that they want?
To your success,