Value vs. Perceived Value
STRUGGLING
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FRAUD
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Without value or perceived value, finding even one paying customer will likely be impossible. In this situation, not only are customers not actually gaining anything from your product, they don’t even feel like they’re gaining anything. Rethink your business model, or start looking for a new job.
STRUGGLING
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PERCEIVED
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FRAUD
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FRAUD
I hate to tell you this, but if your product actually offers very little value while your audience think it offers tons of value, you’ve landed yourself in the fraud area. Morals aside, this type of success is typically unsustainable once your audience catches on that they’re being duped. Start thinking of ways to up your offering’s value.
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STRUGGLING
Most commodities find themselves here. Let’s use the example of a marketing agency where the specialists are bending over backward to deliver on client needs. The problem is, the clients don’t see the point (or the results) of what they’re doing, and constantly question why they’re spending their money with the agency. That’s the result of low perceived value.
STRUGGLING
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When you have high value and high perceived value, you’re doing the right thing by your audience and your brand. In other words, you’re setting your brand up for long-term success. The businesses in this category build a strong level of trust with their audience by delivering on expectations and ensure their audience members know exactly how.
STRUGGLING
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THE MAGIC
What separates the iPhone from a Samsung phone? There’s a reason that the iPhone is the face of smartphones—and it’s likely not what it actually offers, considering this is very close to what a Samsung phone offers. Instead, the difference is the intangible, elusive brand magic that comes from a perceived value that’s even higher than an already high product value.