Last week we looked at how price and service are intrinsically linked, because service determines value and price is the manifestation of value.
Value is a key area where my business mantra applies: It’s not me, it’s you.
There are two key things to know about Value:
- It is subjective
- It is what clients buy, not what you sell.
Value is subjective
What is valuable to one person may be a minor point for the next one. There is no one thing that is of equal value to everybody in the world.
And the same is true of your client base.
When you wonder who your ideal client is, think about value. The clients who value what you offer and how you offer it are your ideal clients.
How you price value depends entirely on how your clients see that value
Buying over selling
Remember that you can “Sell” all you want, but your business only grows when people perform the action of buying from you.
Position value to be about the client and make it easy for them to obtain. Focus on making clients aware of the value and how it improves their life, then let them buy from you.
Value is customer context
The best way to provide value is to understand what our clients value and how our work makes their lives better.
We can serve our clients high value when we understand why they buy from us and what they hope to achieve by working with us … what they achieve long after we have left the room.