In my last blog post, I mentioned that one common theme at last week’s NEMOA conference was the importance of selling on value. In a presentation titled The Consumer is Changing, Are You? Lois Boyle-Brayfield of J. Schmid & Associates pointed out that all too often, merchants equate selling value with discounting prices. Big mistake! Lois offered a long list of ways to demonstrate value. Among them:
• Lasts longer
• More for my money
• An amazing experience
• The best ingredients
• Treated better
• I’ll feel better
• It’s easier
• Creates lasting memories
• Aligns with my values
• Pricing menus (good-better-best product options)
• More healthful
• Quality materials
When selling value, don’t simply make a claim such as “We only use quality materials.” Back them up with specifics and case histories. Answer questions like What materials do you use? Why are they better?
In her presentation, Lois cited recent reports that Americans cut daily expenditures by more than 40% in the past year. In the face of such drastic cutbacks, mastering the art of selling value is more important than ever.
