The other day I wrote that B, the person selling, must give A, the buyer, 10x more value than what A paid for. One commenter asked,
“So Kim. You are saying that I should put a lower price on my [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][product name], so that many more will want to buy from me? I sell my product for $89. If the person A should get more value for what I sell, maybe I then have to lower the price? People are poor here on Iceland…” Una in Iceland
Adding more value can be accomplished without lowering the price or giving away free product samples.
Say a person has trouble sleeping and you have a healthy sleep aid. In addition to your product, you might offer her a set of helpful tips that are known to support good sleep. You can get those by searching Google, and entering in phrases like ‘healthy sleep tips’. (You want to stay with the philosophy behind your product, so if it’s wholesome and healthful, you search for healthy sleep tips, for example.)
Drinking alcohol at night actually interferes with sleep. Eating dinner later in the evening is also known to interfere with restful sleep. Whereas, dark window covering helps promote deeper sleep. There are countless research studies showing such things.
So, you spend some time, and pull a dozen such tips together, along with citations to the medical or health authorities who reported the findings (NOT stuff from your company – THIRD PARTY).
Summarize the tips and findings about healthful sleep into a pleasing and easy-to-use checklist. When you are discussing your sleep product with a customer, you can offer her those health tips you’ve researched. You’ll now have them for every customer.
Here’s the added value: You are giving helpful information related to helping them solve their problem. You took the time to find and summarize it, the info is from third parties (whom you cite), and your lucky customer doesn’t have to pay extra. But she gets the value. And she didn’t have to do the research, either. YOU did it. You’ll now have that ‘bonus’ for other customers too.
You’re now an authority. Not just a seller. Doing this sort of research youreself – and breaking it down into useful tips for others – establishes you as an authority on healthful sleep (or whatever). And you have become that by doing this research. Spending 15 or 20 hours researching one specific topic online like this will definitely give you some authority. Compared to the customer and compared to other networkers selling their product. Think?
Authority gives credibility. An authority on a topic like healthful sleep tips, who uses a particular product, adds value to that product, don’t you think? How many other reps do you think give out anything more than a company product brochure? See how you’ll stand out?
That’s an example of giving added value. When a person adds enough value, they can charge more. The more value the CUSTOMER perceives, the more they will happily pay. And since you are not charging more, but adding extra and unexpected value, folks who are seeking a solution are much more likely to pay happily for their fix. Isn’t that how we all are?[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
What about online marketers who have these reports, and say they’re a $97 value, but you get it for free, along with your product purchase.
Should something like that be done with a ‘healthy sleep tips’ report?
Yes, Paul! That’s one of the things Internet marketers do…They do the extra work first, and if the report really IS useful and the person who created it spend 10 or 20 hours on it, it will be worth $27 or $97, depending on how much work the receiver doesn’t have to do to benefit from it. Free reports are one way to add value that require time and thought on the seller’s part, but cost the buyer nothing extra. And if the seller is really interested in that topic, and wants to establish herself as an authority, it’s a wonderful thing all around.
Such a good idea !! I am going to revise my old handout called “Health Tips”.
Great Idea about how to give more without selling for less and in the same time establishing yourself as an authority.
But it make me wonder should I give the eBook/report for free UPFRONT with a new customer (to establish my authority) and only than go for the sell ?
I’d have to say, that one thing you should consider is that you shouldn’t get stuck in the competing for cost circle.
It can be a rocky road if you are competing on a low cost only basis. Rather, I’d suggest that you should really think about what your unique selling position is and how you are positioning yourself in the market.