With each passing year, products and services are getting more and more alike. Every product is becoming literally a carbon copy of other products in the same space. Cars are using the same platforms, engines, and in some cases bodies. The only difference is the badge. Yet that badge can double the value of the car it’s on. Mobile phones have the same/similar functions, screens made by the same suppliers, shared/copied software and designs. The difference again is sometimes literally a logo. And again, that logo can literally double (or halve) the price of the product.
Trying to differentiate on function, feature or benefit is an endless spiral into mediocrity. Trying to explain the difference of your product based on features and functions alone is like listening to Vanilla Ice explaining the difference between the hook lines of Ice Ice Baby and Under Pressure.
What Apple understands, what BMW understands, what ‘badge’ brands understand is that the real value of any product is intrinsic. It’s the emotional weight we give to something that makes the difference. It’s why every marketing dollar Apple spends is on ensuring that the iPhone user is seen as/feels creative, stylish, unique and different.
It’s why Range Rover ensure that the Vogue driver sits higher in their seat than any other car driver on the road…
Ultimately how a product makes you look or feel has more value to you than the physical product itself. Intrinsic Value taps into the emotional not the logical; it’s why people will spend £400 on a pair of jeans that utilise the same fabric as a £25 pair. It’s the reason that someone getting married will spend more on a single dress, that they’ll only wear once, than they’d normally spend on clothes in a decade.
Understanding Intrinsic Value & Emotional Weighting should change the way your market your products and services for ever.
Harness the power of Behavioural Selling Strategies™
If you’d like to discuss further how you could blend a mix of behavioural psychology, digital marketing strategy and software technology to deliver similar results for your business we’d love to talk…