“It’s just a bag. I really don’t see what makes this one so special when I can get one for cheaper.”
Oh, my sweet summer child, it’s never just a bag. It’s all about value.
And to be clear, I’m not even talking about money today, though there is a time and place to discuss costs and why that factors in. I mean to say that the things we buy are always more than just the thing.
Continuing on the bag example, if I buy a Chanel bag, it could be just a carryall. It could be the workhorse in my closet that I use every day, throwing in all the things I don’t want to hold in my hands, freeing me to more easily interact with the world. Or it could be my way of signaling to my social group that I am on the same status level as them. Or it could be a part of how I style my outfits to help me assure myself that I am a confident business woman. Or it could be the special gift that I think will let my girlfriend know that she is loved. There is a physical value to this good I bought, but there is a psychological value. It’s not just a bag; it is how we think of it.
Whether you’re selling physical goods or services, you’re actually selling solutions to unmet customer needs, even if those only exist in their minds. Take the time to discover what your customers really want, even if all you sell are just bags.
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