". . . put into words why others see value in it. Why do they believe they need or want it? Why do people buy that thing? What is the problem it solves or prevent?" excerpt from Lemonade Stand Selling
Value is one of the most important parts of the sales process. When you are trying to identify price and marketing message you have to be able to speak to the value your product or service brings. I often advise people to ask their current clients why they need the product or service.
If you are just starting out in business and don't have clients, ask people who buy the item from someone else why they buy it. What problem does it solve? This is considered market research and is critically important to your success.
The danger lies in believing you know what the value is without verifying your belief. If you are wrong you will be sending the wrong message and possibly targeting the wrong market. You may even price it incorrectly.
So spend time on this process - it will pay huge dividends in the long run.
Do you know the value of what you sell? Do you know what problem it solves or avoids? Have you asked anyone lately to be sure you are on the right track?
Stay tuned for Lemonade Lesson #3 - Establishing Appropriate Pricing