Do You Have a Value Gap?
Hey Legacy Builder,
There’s a tricky problem that pops up in marketing and sales – price hesitation. It’s like when you’re eyeing up a delicious cake at a bakery, but then you see the price tag, and suddenly you’re not so sure anymore. This happens a lot in businesses that offer services, where it can be tough to communicate the value of what you’re offering.
But fear not, my friend! There’s a nifty little trick called the “value gap” that can help you out. Basically, you want to create a space between where your potential customer is now, and where they could be if they worked with you. The bigger the gap, the more they’ll see the value in what you’re offering.
So imagine your customer is in a less-than-ideal situation, and you’re on the other side of the gap with a solution that seems like paradise. You can use a few different tactics to highlight this gap and really drive home the value you offer. For example, you can show how things will get worse if they don’t work with you, or how they’ll be transformed by your services. You can even show them all the sweet rewards they’ll get by choosing you – more time, more money, more opportunities!
One handy resource to keep in mind is the Elements of Value Pyramid by Bain, which shows all the different ways people assign value to a product. It’s available in versions for both B2B and B2C, and it’s a great tool to use when you’re working on your marketing or messaging.
So there you have it, folks. It’s all about finding the right words to communicate your value and create that gap. Once you do that, people will be lining up to work with you!
