Impact Pricing Podcast

Memecast #82: Queen of Clubs: Customers’ Perception of Value is their Reality

This one is the Queen of Clubs from the Selling Value card deck.

Customers’ perception of value is their reality. This is absolutely true.

Think about when you purchase something. You don’t have the time or the energy to go out and learn everything there is to possibly know about everything. In fact, if you’re like me, you’ve probably purchased things, and made a mistake, “Oh, this really didn’t solve the problem I thought it was going to solve. It really didn’t look the way I thought it was going to look or act the way I thought it was going to act.”

And what that really meant was that before we bought the product, we had this perception of what we thought the product would do, and it didn’t live up to that. The ‘didn’t live up to that’ is true reality. This is what it really does. But prior to the purchase, the only thing that mattered was what we believe.

“Prior to the purchase, the only thing that mattered was what we believe”

– Mark Stiving

And this is true of our customers as well. Prior to them making a purchase decision, all they can do is use what they believe to be true as information to make the decision. We need to understand that because our job, if we’re selling value, is to make sure their perception of our value is really high.

Ideally, we make sure it’s accurate, but we want to make sure it’s high.

We hope you enjoyed this memecast. This is also an example of how Pricing Table Topics works. Grab a deck of our cards, pull a random card, read the saying, then talk for one to two minutes about what that card says. This will improve your understanding and more importantly, your ability to communicate important concepts about value.

If you have any questions or feedback, please email me mark@impactpricing.com.

Now, go make an impact.

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Tags: Accelerate Your Subscription Business, ask a pricing expert, pricing metrics, pricing strategy

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