The Secret to Selling More by Increasing Perceived Value

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SUMMARY KEYWORDS

Perceived value, order, utilize, communicate, reviews, customers, increase, product, prospective customers, business, logos, articulate, equation, service, result, perceived, mind, strategy, organization, marketplace, the secret to selling more, how to increase the perceived value, perceived likelihood of success

Speaker: Jesse Razo

00:16 – How to Increase the Perceived Value and Drive More Sales?

Hey guys, Jessie here. Once again, I got another great training for you. Today, I’m going to talk about the secret to selling more by increasing the perceived value in prospective customers’ minds. I’m going to unpack Alex or moseys value equation and talk about one of those factors. So, what you can do today in order to drive more value in prospective customers’ minds. Inevitably, it’s the secret to selling more and increasing the price of your product or service. I know your time is valuable, and I promise not to waste a single second. For those of you who don’t know me, my name is Jesse, and I’m the lead designer with razor-sharp networks. And, we specialize in customer lifecycle automation. If you’d like to get information on who we are, and what it is that we do. Then, go ahead and subscribe to our YouTube channels.

Set up notifications so that you can learn how to automate your customer’s lifecycle. Then, create more touchpoints to increase revenue. And, it reduces the amount of friction associated with doing business with your organization. So, let me jump right into the value equation. And, I’m not going to do a deep dive into the value equation. I really love this equation it sheds a lot of perspective in regards to increasing perceived value. And, it’s how to increase the perceived value in prospective customers’ minds. But, let’s start with one portion of the equation which is results or outcomes. You need to be able to articulate this to your dream customers more effectively than they can communicate. If you can articulate what it is that they want, and what challenges they’re facing? And, what are the desired outcomes that they’re looking for?

01:56 – How to build instant trust and credibility?

So, if you can articulate that better then they can communicate it. Then, you’re going to win when it comes to increasing the amount of value. And, you’re actually going to build instant trust and credibility with them. Because they’re going to feel like rapport because they’re going to feel like you understand where they’re coming from. Like, what is my challenge? And, what is it that I’m facing in my business? Or, what is it that I’m facing as a consumer? And, what is it that you are going to provide to me? So, that’s their result or desired outcome that they’re achieving. Again, what you want to do is be able to articulate that better than they can communicate it. So, you can build instant trust and rapport. Also, you can do that high amount of value.

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The Secret to Selling More

Secondly, it’s the time delay associated with achieving that desired outcome if it takes you no time at all. This means, that if they purchase your product or service, they get an instant result. And then, they’re going to value what it is that you do. Now, if it takes a long time to deliver the result, then make sure that you give them progress updates. Or, provide them some short victories associated with what it is that they purchase right out of the gate. And it’s in order to increase the value in their mind, fast beats free. There are a lot of companies out there that utilize this as one of Alex moseys principles. But, a lot of companies out there utilize speed. And, it is in order to enter a saturated marketplace or become the market leader in that marketplace.

03:26 – How to increase the perceived value and the price of your products and services?

So, if you have a product or service, that’s a commodity in the marketplace. And, make sure that you’re articulating why your product is more valuable than the guys down the street. Focus on the amount of time that’s going to take for them to achieve the desired outcome or result. So, that’s one of the ways that you can increase the value of your product and services. Now, the perceived likelihood of success is they believe that they’re going to get the desired outcome that you’re promising? And, how to increase the perceived likelihood of success that’s what I’m going to jump in today? Right after I cover the fourth component in regards to increasing perceived value and effort and sacrifice associated. So, if they have a high degree of effort and or sacrifice associated with achieving their desired outcome.

The Secret to Selling More

And, it’s going to reduce the value associated with your product or service. So, if they have a very low degree of effort or sacrifice. Then, you’re going to have an increase in perceived value in their mind. Now, this all has to do with messaging. And, this has to do with how you position your product and service in the marketplace or price process. So, it has to do with a perceived value. And, it’s not the actual value of your product or the size or the result. This is about capturing market share. And, this is about being able to communicate the right message to the right person at the right time. That is going to be impactful. And, these four components are four areas that you can work on in order to increase the perceived value.

05:17 – Factors to increase the (perceived) value

It doesn’t mean that you have to actually provide a different outcome than somebody else. But it means that you’re clearly focused on the driving factors. From a psychological standpoint, that’s going to increase the perceived value in your perspective dream customer’s mind. For example, let’s say that you want to lose 50 pounds. And, you have a couple of different choices, you can get liposuction, and you can do cold therapy. Or, you can join a gym or get on a diet program. So, they all give you the ability to lose pounds, right? Which one costs the most? Well, the one that costs the most is, of course, liposuction. And, cold therapy is probably going to be the second most expensive. Then, joining the gym is going to cost $99.

The Secret to Selling More

Or, even if you go to some other fitness studio, you can get it from 15 to $30. It’s very commodity-based. But, the reality of it is the reason that the surgeon is able to charge as much as they did. It’s because the effort and sacrifice associated with the result are very low. Like, you’re sore for six weeks, and you come into the office. Then, they suck all the fat out of you, you’re sore for six weeks you recover, and you’re beautiful. You’re whatever it is, but the desired outcome was you’d lost the weight. And, you’re more beautiful, more confident, and things of that nature. In cold therapy, your time delay is a little bit larger. So, you may have to go into three to four sessions associated with just one. Of course, the value is going to be a little bit lower.

07:10 – #1 Perceived Likelihood Of Success

Your effort and sacrifice are lower though, because lower than joining the gym and following a nutrition program. So, the effort and sacrifice are not as low as liposuction. But, it’s lower than joining the gym and following a nutrition program. Of course, the value is between the two. If you understand and you’re focusing on that component to articulate what you can provide to the marketplace. Then, you’re going to be much more successful in regards to creating perceived value and prospective customers’ minds. So today, I’m going to dive in and give you some actionable tactics associated with one of these areas. And, I’m going to do four videos and unpack different areas of this. So, if you haven’t done, go ahead and subscribe to our YouTube channel. And, set up notifications, you’ll see those videos come out.

The Secret to Selling More

But today, I’m going to talk with you about the perceived likelihood of success. And, when you’re talking about the perceived likelihood of success, you’re talking about a couple of different things. And also, the risk reversal and then you’re talking about trust and credibility. Also, you’re talking about social proof and our other tools that you can utilize from a psychological standpoint. And, this is in order to communicate or articulate how you’re going to deliver the product or service. Now, I’ll give you an example. That’s one of the products that we offer is it’s a PR medium pitch campaign. And, what it does is it gives us the ability to create press releases around what our clients are doing. Then, what we can do is we can syndicate those releases to media outlets. Now, the media outlets pick those up, and they have some brand recognition.

09:03 – #2 Customer Reviews and the Power of Social Proof

And, through association, we utilize those media outlet logos in order to build instant trust and credibility with future customers. So, that can be a powerful strategy in regards to building trust and credibility. In addition, we can utilize different tools in order to accomplish that. We can also utilize logos from past customers. And, say, “proudly serving” and have a list of all the logos. And, as you build those logos, of course, the more logos you have there are the more recognizable logos. Whether they’re in your local market or they’re on more of a national market type of thing. And, that’ll build trust and credibility through association. So, that’s a really powerful way to use media logos and logos from past customers in order to accomplish that. And, that’s for b2b service and our product offerings for a b2c or business consumer offering.

The Secret to Selling More

What we focus on is customer retention and re-engagement in our strategy. And, one of the things that we tell our entire clients do is. Be always selling for the three R’s, reviews, referrals, and repeat business. So, the reviews can be incredibly powerful. Because if you get a review, like Google My Business page, that helps out a couple of different ways. One, business directory, directories, and business pages are part of the real estate on the first page of Google ranking. So, they take up a big part of that along with map searches, pay-per-click, and also organic reach. Now, you need to have a strategy that gives you as much real estate on the first page of Google. And, we cover the entire strategy in the anatomy of a search video training. So, you can go to YouTube and look that up.

11:05 – The Importance of Reviews and Social Proof for SEO

And, get a complete strategy on how to dominate the first page of Google. But, if you need to make sure that your rank is high from a website standpoint. And, it’s from a business page and directory standpoint, a mapping standpoint, and, organic reach. Then, one of the ways that you can impact that is by getting reviews on a regular basis. And, make sure that your reviews are current, and they’re accurate. Then, they also have some keywords and determinations within them in order to help you with organic reach. So, reviews can be incredibly powerful. Now, that’s from a written review standpoint, and from a video review standpoint. And, you can utilize video reviews in a lot of different ways. So, that should be another strategy that you utilize to build trust and credibility. Also, social proof is utilizing those video reviews throughout your website.

The Secret to Selling More

And, you can utilize them on your paid ad campaigns. You can create a video review, or supercut video in order to reinforce what it is that you’re doing. Or, the perceived likelihood of success is very high. Because you have a lot of examples where that perceived likelihood of success has been demonstrated from past customers. So, if you can demonstrate that to future customers. Of course, it’s going to reduce the amount of friction when people are doing research on your website. So, your social media sites on your business page directories, and things of this nature. Then, be always selling for the three R’s and always have a customer retention program. That drives reengagement with existing customers. And, it’s in a way where you’re getting reviews where you’re creating referral networks and things like that.

12:48 – Reduce Sales Friction with Social Proof

Then, you’re also consistently, front of mind with those prospective customers, from a customer from a repeat business standpoint. So, those three R’s can be incredibly important not only for building social proof. But, it also gives you the ability to build trust and credibility with future customers, as well. And also, it’s in all of your online assets. Again, this is all about the perceived value. And, it’s if you take a look at websites that have a lot of reviews. Then, they have a high perceived value of success when it comes to buying the products and services. Of course, they’re going to have a lot more success when it comes to selling the products and services. So, this is how marketing supports your sales efforts. Those common goals come together as you develop a business that’s focused on three areas, marketing, sales, and product delivery.

The Secret to Selling More

Make sure that you have touchpoints all the way and along the way. And, that supports your common goal which is to drive revenue for your organization. Also, it’s the other step that you can focus on in regards to increasing the likelihood of success. And also, it reduces the effort and sacrifice if they have a lot of risks. Then, they’re going to have a perceived lower perceived value associated with buying your product or service. So, one of the things that you can do is reverse the risk associated with doing business with the organization. And, it’s through warranties, through guarantees, and things of this nature. Then, make sure that you communicate that through the entire customer lifecycle. And, it’s really no risk and does business with our organization. We weren’t all of our work, whatever it is.

14:35 – How to Build Credibility in The Marketplace?

And, you give guarantees, whether their money back or satisfaction guarantees, things of that nature. So, have those outlined and make sure that you’re able to communicate that all the way through the process. And, you don’t have to over-communicate it because there seems like you’re kind of wanting to or needy. But, make sure that you just have it outlined on your website. Make sure everybody within the organization is clear about what those warranties and guarantees are. And, that they’re all communicating the same thing. Then, they’re reducing the amount of risk of doing business with the organization. They’re utilizing social proof in order to increase the perceived likelihood of success. Of course, with your future customers that are doing research on your product, process, and service. They’re utilizing recognition and association to build credibility in the marketplace, instantly.

15:14 – Tactics to Increase The Perceived Likelihood of Success

And, those are brands, icons, images and logos, and things of that nature. From a media standpoint, it can be incredibly powerful for that and also from past customers of your b2b. So, these can be incredibly powerful ways in order to increase the perceived likelihood of success in prospective customers’ minds. While reducing the amount of effort and sacrifice associated with that. So, it’s just some things that I wanted to dive into when it comes to the value equation. And, as some action items, and tactical information to utilize within your organization to reduce friction, and drive revenue for the organization. So hopefully, you got some value out of that. If you did, leave us a comment, set up a notification, and subscribe to our YouTube channel. Or, share this with friends and family that own businesses so that they can grow their organizations, as well.

That’s all I have for you today. Hopefully, you got a ton of value out of that. If you did, let us know if not. And, if you have any comments or you want to discuss what it is that I shared. Then, go ahead and let me know. We’ll get back to you as soon as we possibly can be well, we’ll talk soon. Bye-bye.