Perceived value is your clients’ overall impression of you and the services you offer. According to BusinessDictionary.com, perceived value may have little to do with the price, and instead refers to your ability to satisfy your clients’ needs.
When you’re selling a service instead of a tangible product, the perceived value carries even more importance. You must not only provide a useful and relevant service to your clients, but you also have to get them to recognize the value they are getting before they make their initial purchase, and afterward for each subsequent purchase. You want your clients to view your services as irreplaceable; the only way to solve their problem and fulfill their needs. Having a high perceived value not only allows you to charge more for your services, but it can reduce price objections when it comes time to make the sale.
Perceived value can be increased by demonstrating the most valuable, tangible benefits your clients stand to gain by purchasing your services. Here are a few of the most powerful benefits to highlight in your sales copy and in conversations with potential clients to help them develop an increased perceived value for your services.
Return on Investment
Instead of placing the focus on the cost of your services, try relating the clients’ investment to what they will get by hiring you. For example, help your clients to understand that they may spend a few hundred dollars to have you create a banner ad for their business, but they will continue to get a return on that ad every time they use it, quickly recouping that initial investment.
How many of your clients attempt to do themselves what they eventually hire you to do? Break down the time savings your clients can benefit from by hiring you to take over the work, get it off their plates and out of their minds so they can focus their time and attention on more important topics.
You know that saying, the proof is in the pudding? Give potential clients tangible examples of how you have helped other clients achieve X, Y and Z through your services. Testimonials, case studies and references can help potential clients envision the results they may get from working with you.
Better Than the Competition
A moderate amount of fear can help clients see what may happen if they hesitate and wait instead of taking action. You can expand on this idea by talking about what the client’s competition is already doing and how your services will help the client surpass the competition and come out on top.
Lastly, you can help the client elevate the perceived value by making an offer they can’t refuse and encouraging them to act through a no-risk offer. Try a limited trial, a free sample or some other action-based incentive to raise the value and lower the risk.
Ultimately, the perceived value is simply that — perception. But it’s important to avoid creating a false sense of value, and instead focus on demonstrating the unique and worthwhile value clients can benefit from when they work with you.
How do you help clients to see the value in what you’re providing?
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