Hi, folks...
Yesterday we took a brief and somewhat rambling look at the
"other" success formula, from the perspective of the seller.
When we get into things that you've heard before, but want to
put into a new perspective, that sort of approach can sometimes
be helpful in adding the necessary shift.
A great way to explain it is a story from Anthony de Mello:
A young man met his girlfriend for dinner. She asked him if
he noticed anything different. The conversation went like
this.
Him: Is that a new hairstyle?
Her: No.
Him: Your new dress looks lovely.
Her: You've seen this before.
Him: Did you lose weight?
Her: NO!
Him: Okay. I give up. What's different?
Her: I'm wearing a gas mask.
....
That may sound a little odd. Maybe unbelievable, to the guys at
least. The women in the group either just laughed or nodded
their heads in agreement. But it makes the point. We tend to
see things as we expect to see them, and when we're shown a
different angle, we can easily miss it.
Here's a real life example. Back in another lifetime, when I
actually worked for someone else, I decided to make a similar
point to the people I was training.
For a few days, I only shaved one side of my face. On the
fourth day, when no-one had noticed, I commented to one of the
managers about how little attention people paid to things that
were right in front of their faces. She suggested that I was
exaggerating, so I asked her if she'd noticed anything odd that
day. She was looking me square in the eye when she told me she
hadn't.
I said, "Beard."
After a brief confused look, she got it. Then she blushed. She
didn't feel any better about it when I told her no-one else in
the office had noticed, either.
We see what we expect, even when what we expect is not what's
really in front of us.
Sometimes all it takes is the effort of paying a small bit of
attention and looking at things from a different angle to make
a huge difference in what we see and get. Or how much of it we see or get.
You don't pay attention. Attention pays you.
"The 'Other' Success Formula - Part 2"
====================================
The main formula people are taught as the math of success
online is simple: Traffic times conversion equals revenue.
That works. It's important. But there's another formula that's
just as important, and rarely mentioned. We discussed it
yesterday.
Value over time equals worth
Today we look at that from the perspective of the worth of the
product to the customer. As with "Thud," that has both a
perceived and a real component. The perceived part is what we
expect when we're considering a purchase, based on the sales
presentation. The real part is what we actually get for the
money. Or for our time.
This time around, we're going to take a more direct approach to
the questions. They apply to your customers, and to yourself as
a customer of others' products.
Answer these as truthfully as you can, especially about the
things you offer. And keep them in mind when considering
purchases. This is all about making sure your customers get as
much value as you can deliver, and that you get a solid return
for your own purchases
....
* How much value is there in this product?
That will be answered by the overall impression your customer
gets before buying, and the results they get from using the
product.
Keep in mind that the pre-sale estimation is what usually
decides if they buy or not. You can use these questions as
guides for ways to improve your sales processes and your
products. In that sense, we're back to the value you get from
the sale.
* Is this something they already want?
That is a big factor, and one that's often ignored. There is
little that's more frustrating than trying to sell someone
something they don't want. It's like teaching a snake to tap
dance. It's easy, if you can just get the shoes on them.
* How does this fit in their overall priorities?
You're not just competing against other similar products. Your
competition is every other choice they could make with the
resources you're asking them to invest. And the choice will
often affect many different parts of their lives.
Keep the big picture in mind, even for nichey products and
services.
* How easy is the product to use?
Can the customer immediately turn the product to the purpose
for which they bought it? Do they have to work hard to get the
promised result, or is it painless?
Keep in mind that this is on a relative scale. The real point
here is to consider the amount of time and effort that will be
needed for the type of result desired, and compared to other
products offering the same or similar states.
Design your products to make them as easy as possible to get
results with. And focus on delivering measurable impact
quickly, even if you have to break it down into smaller bites.
When considering a product, ask yourself how much time will be
needed to start getting what you want from it. Often, the
investment (or savings) of time overshadows the price.
* What kind of result are you looking for?
This comes down to three types. Active, passive, and research.
Research is just what it says: Finding out enough about a
product or type of product to decide if it's even something you
want to consider, or what the main considerations are.
Passive results normally involve entertainment. For this, there
is an absolute minimum quality required to keep the customer's
attention. This will vary a lot, and is entirely subjective.
Social proof or sampling is the key to the first sale with
these. Quality is everything here for repeat sales.
Active results come from products intended to create change, or
to deliver skills. People will almost always pay more for this
type of product.
The value here is as much in time saved as in results gotten.
If you spend 3 years leaning something someone else wants to
learn, and can teach it to them in a way that only takes them a
few weeks, and saves them lots of money and frustration, that's
a high value result.
The classic example in the business arena is the proven
formula for copywriting or repeatable sales processes. You can
flounder around for years getting it right, or you can pay to
learn someone else's formula that works.
If your customer has the money and wants the result, the real
question is as simple as: Do they believe you can deliver?
Create a product that delivers. Selling with conviction is
going to be a lot easier if you know it really works.
When you're considering buying a product like this, look for
conviction rather than hype.If you approach products with that
distinction in mind, you'll make far fewer 'dud' purchases.
* Is the product ethical, by the customer's standards?
Let's face it. There are products that some people consider
ethical and others don't. This comes down to knowing your
market, and being comfortable that you're delivering something
they'll consider appropriate.
It also matters whether the kind of person who would buy (or
sell) the product is someone you want to do business with.
That's a question only you can answer.
* How much of the desired result does the product actually
deliver?
This is a function of promise and price. "Baby steps to your
first sales letter" is a very different offer than "The
Ultimate Copywriter's Course."
Set realistic expectations. And maintain them in your own
buying decisions, too. That is one of the best ways to ensure a
high value return from your investments.
* What's the shelf life?
Skills and strategies are worth much more than commodities and
tactics. And tools are only as valuable as they are durable.
Incremental improvements in skills and strategies can be worth
much more than even the best tools, if you're someone who will
do something with the new ability.
Tools break over time. Skills grow in value.
* How satisfying is this going to be?
Never underestimate the value of genuine pride of achievement
or ownership. Likewise, don't downplay the venom that can be
generated by someone buying something that doesn't live up to
the promise.
* What are the 'gotchas' and the requirements for use?
Are there other skills, or versions of some software, or
previous experience the customer will need to use your
product? If so, tell them up front.
If you're buying, ask.
Look for the unmentioned 'gotchas.' The things that can stop
you, or your customer, dead in their tracks. If possible,
eliminate them from your product. If it's not possible, be
clear about who CAN use the thing.
* What is the resulting experience?
This is the biggest thing you - or your customers - want to
know. Be honest with them and yourself about it. It's what
decides whether they're repeat customers or angry customer
service problems.
It's also the ultimate answer to the most important question
your customer has: What's in it for me?
....
Look at your offer through that last question: What will they
experience after using your product? Or, if you're buying, what
do you expect to experience, and is that realistic?
If you have a copy of "The THUD Report," some of this will look
familiar. Get that out and re-read it. Think about each aspect
of the system in terms of the customer's experience.
If you don't, you can get that here:
http://talkbiz.com/thud/?e=1
It's a guide to developing products that deliver huge value
over time, create more profits for you, and make for happier
customers in the process.
....
Go through your offer and ask yourself each of these
questions, looking at it from your customer's perspective. Make
notes. And forget what's in it for you while you do it. Ask
yourself how you can deliver more to them.
The more successfully you maintain that customer focus, the
more profits you'll ultimately make for yourself.
That's the real key to value over time.
Paul
PS: Seriously. If you haven't got this yet, get it. It's
cheap, and can make a huge difference if you just use it.
http://talkbiz.com/thud/?e=1
-----===(*)===-----
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