When we think about how our buyers decide. Oftentimes they’re deciding, am I going to buy your product? Or am I going to buy a competitor’s product? What they do is they look at the price of your product, the price of your competitor’s product.
And for a moment, let’s assume the price of your product is higher. So they ask themselves, is it worth it? Should I pay more for your product? Well, that depends on what they’re going to get when they buy your product instead of the competitor’s product. Now we’re talking about differentiation. What’s different about your product versus your competitors product.
“Real value comes from building products that are really better than our competitors.”
– Mark Stiving
It turns out when buyers are making this decision, they’re using their perception of the differences. So it’s really about perceived differentiation, but if you want to truly get. Good differentiation. My advice is always build real differentiation build products that are better than your competitors, and then make sure our customers and our buyers know that our products are better than our competitors so that they’re willing to pay a higher price.
Real value comes from building products that are really better than our competitors.
We hope you enjoyed this podcast. If you see have any questions or feedback please email me [email protected].
Now go make an impact.
Connect with Mark Stiving:Accelerate Your Subscription Business, ask a pricing expert, pricing metrics, pricing strategy