July 21

Unique Value Communication: How to Communicate Value of Your Product

How do you communicate value? How do you set the right price for your product or service?

If you’re thinking about the product’s materials and manufacturing costs, you’re going about it all wrong. The right way is to match the price to its value and then focus your marketing on showing your customers this unique value.

Related: Client Driven Pricing – Your Pricing Strategy Starts with Knowing Your Ideal Client

How to Communicate Value of Your Product

Product pricing | How to Communicate Value of Your Product

Defining the Value of Your Offer

Unique Value Proposition | Defining the Value of Your Offer

Do you understand the value of your product or service? The value is how it makes things faster, saves people money or time, prevents hassles, or solves problems.

It’s not only how your product does this, but how it does this differ from other products on the market.

To define what about your product sets it apart and helps people solve their problems, you should create a UVP – Unique Value Proposition.

This simple sentence promises to the potential client, telling them exactly how using your service will improve their lives.

With this statement, you’re ready to start demonstrating your services’ unique value. Here are some guidelines for doing this.

Focus on Benefits, Not Features

Benefits Features | Focus on Benefits, Not Features

Our natural inclination is to discuss the product in terms of its features. After all, the features are what you’ve been developing, what you’re most proud of, and what sets it apart. But instead, focus on how these features translate into benefits for the user.

For example, your software program puts all of a user’s social media feeds into a single news feed. This is a great feature.

But go one step further and add that it saves users time checking each feed and helps them more clearly see trends to make the right marketing decisions.

Know the Competition

Know the Competition

You must know the competition and their products well. In addition, your customers may have experience using a competitor’s product, so you must explain how yours differs.

During business setup, make sure your service offers something unique. If not, it still needs work. If your pricing undercuts the competition, this will likely help you sell more, but your selling point shouldn’t be price.

If it is, any competitor with the resources to offer a lower-priced service will beat yours. Make sure there’s something unique about the service or package itself.

Communicate Value: Ask Your Customers

Ask Your Customers | Communicate Value: Ask Your Customers

Your product’s value isn’t up to you. It’s up to your clients, so you need to rely on their feedback to figure out what it is.

What have people told you they love about your package or service? Why do clients switch from a competitor to you? Or why do people keep repeatedly buying from you? Do they become brand advocates? Open up a dialog with your clients so you can get this feedback from them to reveal your product’s unique value.

No More Sales

closed deal | No More Sales

Once you know how to explain your service’s unique value, the sales process becomes much smoother. You hardly have to sell at all.

Instead, you need to talk with the prospect to show them what your offering does for them and decide whether it matches their needs.

Do you want to learn more about discovering the value and pricing your products correctly? Then, check out my monthly membership, Successful Coaches Business Academy.


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