Essentially, there are two different ways to create value for your customers. Either you can figure out what they want and then offer it to them. Or you take what you have and figure out a way to make customers want it.
Regardless of which strategy you choose, you must create value for the customer.
But what really is “value”? Well, it depends on who you ask and what situation you are in.
You are not willing to pay much for a liter of water that comes out of the tap at home. But for a liter of water if you are about to die of thirst in a desert, you would pay almost anything.
Value is not constant. It can be created or disappear. It can increase or decrease. All depending on context and situation.
Alchemists dreamed of turning base metals into gold. What if they had instead focused on making these metals as valuable as gold?
An example of this is iron jewelry. In the mid-1700s, when France needed to finance wars, King Louis XV urged the rich to donate their precious metals to the war chest. The consequence was that it was no longer considered “fine” to appear in gold and silver jewelry; these were to be donated to the war chest!
And now iron suddenly became a sought-after material for jewelry, and the price of iron rose significantly.
This shows that value is not constant, but can be created through context, creativity and persuasion.
How can you apply this in your business?
Challenge traditional perceptions: Can you find new uses for your products or services?
Create a story: Can you tell a story that makes your products or services more attractive?
Build a community: Can you create a community around your products or services that increases their value?
By thinking outside the box and challenging traditional perceptions of value, you can create new opportunities for your business!
Here you can read about how to get your B2B-customers to move forward in their buying process.
