Perceived Value – What is That?

targeted-value

Perceived Value
by Lorraine Morgan Scott

I read some of Cathy Alessandra’s book, “Yes I Can” and something she wrote caused me to sit back and say, “hmm.”

While Cathy shares personal nuggets of wisdom throughout the book the thing that struck me was what she wrote about “owning your worth.” Her point was that she’d been giving away free tickets to her business training events/expos to people that said they couldn’t afford the ticket price, and now, with her new way of thinking, she feels that if you couldn’t afford $147 for a full day of business training – you shouldn’t be in business.

I’m not saying Cathy was wrong (or right), by the way, merely that the statement stuck in my brain, and today, I realized why.

I’d been reading Jeffrey Gitomer’s “Little Red Book of Selling,” and it dawned on me why Cathy’s statement had struck me so. I paraphrase (heavily) from Jeffrey’s book: “people have objections to buying something when they aren’t sure of the value they’ll receive.”

That’s what got me. In my opinion, almost anyone is reluctant to spend money on training or even a free seminar (or anything) because they are unsure on how this “whatever it is” will help them.

The price is usually not the issue – it’s the “perceived value” that buyer has about the product or service.

Recently, I spent what I consider a significant amount of money on a training program to learn how to attract sponsors. The owner of the program, Linda Hollander, had done her job and convinced me that my return on investment (ROI) would be more than my investment, and that her program would do what she promised it will do. By showing me the benefits of the program, I felt my time, effort and money would be wisely spent.

Back to the $147 (or free) training, or talk, or app, or whatever. My thoughts are: Ensure whatever product or service you are providing or selling addresses the “perceived value” or getting people to buy (even a free event) will be difficult.

Perceived value affects everything! Movie-watching, book-reading, clothes, cars, and training.

Oh, and to make it more difficult – everyone’s perceived value is differentJ

What are your thoughts? Agree or disagree? Let’s talk.

Lorraine

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