Value can be created in different ways – from new product development over built-in smart functions to create a high-quality feeling. In most cases, perceived value can be directly related to a being able to charge a premium price. And this is valid for all types of products, not only the one’s we buy as consumers.
One example is the truck and crane manufacturers. The number of horsepowers or lifting capacity is often very clearly displayed. The bigger the better for many uses.
Another example is construction sites. They are often muddy, gray and dirty. Yet excavators, dump trucks, compressors and other construction and industrial machines are almost always yellow, have streamlined cabs and flashy graphics. Even though every splash of mud shows, the design soon disappears under dirt and the stylish cab isn’t any more ergonomic than others.
Once again, it’s about making customers feel a higher sense of value. Through product design, you can communicate what customers are looking for – such as strength and efficiency – which ultimately means profitability for the equipment owner. Product design matters more than you think, and it’s everywhere in society. Product and packaging design are most significant for consumer goods, but their importance is growing rapidly even in B2B contexts.
Apple is a pioneer in product design and delivery. Their products are rarely technically superior, but the company creates a unique user experience that turns customers into fans. The packaging is so attractive that you often keep it on a shelf behind you. The phone comes pre-charged and cheerfully says “Hello!” when you lift it up. Everything contributes to the feeling that Apple is something completely different from other, more technically focused brands.
You don’t have to be as big as Apple to make use of emotion. Think about how you can make your customer say “wow.” A company that sells high-quality speakers includes a pair of white cotton gloves on top of the packaging so that the customer can both see and feel the quality when they open the transport box.
Take advantage of the feelings you can create. Start by thinking around how we perceive different things. If you buy a new house for five million SEK, you expect everything to be in order. You won’t be especially happy just because the stove works or the baseboards are properly installed – that’s a given.
But if there’s a bottle of champagne on the table with a “Welcome to your new house” card, you’ll be pleasantly surprised and see everything in a more positive light. Think about how you can give your customers a “wow” experience. Sometimes all it takes is a greeting and a piece of chocolate to make the customer happy – and eager to come back for more…
Do you want to know more about how to develop the value of you offering, just reach out to ulf@sfinxconsulting.se
