Customers these days want to get value for their cash. Including you. I’m sure you know and understand that the economy is hard, ain’t nobody got money to waste.
This is why for entrepreneurs we seem to always be stuck in a fix of how to prove to our customers that we are valuable to them. Worry no more, because today we will be giving you ways to do that because it is your job to show your value to your customers irresistibly.
- Emphasize on what they’re getting
A lot of times, you can even testify that when you’re getting something it’s mostly the price that’s on your mind. Before you get anything, you’re constantly thinking of how much it costs and trying to determine if it’s worth it.
That’s where you come in as an entrepreneur. The earlier you can take their mind off the price and focus it on the value, the better. That way, no matter how much you’re charging whether it’s one naira or 1 million, they don’t mind paying for the value.
So how can you emphasize the value they’ll be getting to them? Put yourself in their shoes, think about the problems they’re having that your products can solve and then advertise your products to the best of your ability.
- Watch your competitors closely
No matter how similar your product is with what your competitors are offering, there’s something that differentiates you both and your products and you must find it and leverage on it well.
How can you do that? Watch your competitors well, see what they’re offering, their features and highlight areas where your product or service beats theirs. Check for weak areas too of their products and how yours solves them and just in case yours isn’t solving them, get started! Cause that’s how you will prove value to your customers.
If you’re not doing your research on your competitors, you’re the one sleeping on a bicycle because your customers/ audience are definitely doing their own research cause they want one thing- VALUE.
- Know your product well
A lot of times, we have entrepreneurs who just started a business to make money with little or no interest on whether they’re meeting a need or solving a problem at all.
Hence, they know nothing about their products. But the truth is that if you don’t know your products or your customers, their needs and how to cater to them, you might make cash easily at first but you’ll easily fizzle out of the business space. You won’t last long.
So, know your products well. Another advantage of doing this is that you’ll be able to fully grasp all your products offer and the needs it’s meeting. This will help you highlight it to your customers.
Guess what? Your competitor might even be offering the same services but forget to list out all their features and what they’re offering. By the time customers are doing their research and seeing that your benefits are more, they’ll pick you.
- Don’t be so quick to offer discounts
This has happened to the best of us. We really want to show and prove our worth and just make money from the business so that we don’t fail or have to close down.
That’s not really healthy because when you start underpricing your stuff, it’s hard for your customers to associate that with value. Like, why are you reducing the price if it’s really valuable? Then you’ll just see that they pick your stuff when they need something affordable and go for your competitors when they need quality.
Make no mistake, this isn’t because your competitors are offering more quality than you but there’s just something in all of us that associates something being expensive to mean it must be quality.
So, while you’re there underpricing and killing your business, your customers aren’t even getting the point. Don’t always think that to prove value you must reduce your prices.
