Price is what you pay. Value is what you get.
And the perception of value is why you decide to buy. How much would you pay for an ordinary gray pebble? How much would you pay if I told you that pebble could perform tricks like ‘sit’ and ‘stay’ and included a manual for how to train your pet rock?
Seth Godin has a short, but insightful post today on price.
Maybe the reason it seems that price is all your customers care about is…
… that you haven’t given them anything else to care about.
What are you doing to increase the value perception of your products or services? How are you differentiating what you offer from what your competition offers? How is your site different from others in your industry? Does it look different? Does it have unique content? Why should someone choose your blog over another?
As technology and labor gets cheaper nearly everything can become a commodity. Pushing price leads you toward the commodity end of the market where little is differentiated and goods are traded based on price instead of the added value of quality and benefits. Competing on price leads you into a cycle where you have no option, but to compete on price.
Wal-Mart can compete based on price. Chances are you can’t. You can increase your chances for success by setting your price and increasing value. Even more, work to increase the perception of the value your products and services deliver. Show your market why you offer more value than your competition.
When there is nothing to differentiate you from your competition you become a commodity. When your content is the same as your competition it is commoditized. When your link profile looks the same as your competition it becomes commoditized. If you don’t want to be a commodity make sure there is something to differentiate yourself than everyone around you.
What are you doing now to differentiate your business? What are you giving customers to care about other than price? What are you doing on your blog to make it different from the others in your industry? What are you doing to make your blog remarkable?
That which costs little is less valued.
–Miguel De Cervantes
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