What are you selling, REALLY?

What are your customers REALLY buying from you?

Let me start with a story I heard. An African company sold cooking oil for years. At a certain point, they changed the shape of their oil can. Then nobody bought it any more.

Why? Because people were using the empty cans as lamps. Once the company changed the shape of the can, it didn't work as a lamp. So people stopped buying the oil.

For years, they thought they were selling oil. In fact they were REALLY selling lamps. But they didn't know it.

Sometimes customers see value in our products we don't see ourselves. Sometimes they’re buying something over and above the obvious.

What does the Harley Davidson corporation sell?

Motor bikes. Yes. Correct answer. But that's by no means the full story.

Here's a quote from a Harley Davidson executive:

"What we sell is the ability for a 43 year old accountant to dress in black leathers, ride through small towns, and have people be afraid of him."

You could say they’re selling a solution to a mid-life crisis.

The company knows exactly what their customers are buying. And that allows them to charge their sky-high prices.

What about your own business? Do you know the full value of what people are REALLY buying from you? If not, you're probably selling too cheaply.

I used to think that people attended my business training workshops to hear my 'pearls of wisdom'. Then I realised that they actually came along to meet new people, get away from the office for a day, and have a nice lunch.

Once I realised that, I made sure there was plenty of interaction time. And a friendly atmosphere in which to learn. Plus fantastic food.

I'm half joking. They still came to learn from me. But I did find out WHAT ELSE they were buying. And I upped the prices

How did I find out about ALL the things they really valued?

Simple. By chatting to them. By using the feedback forms. By keeping in touch. By listening.

It's enlightening to ask customers. They tell us things we don't see. Things we can then highlight. Things we can build into our products. Things we can charge more for.

It might be your customer service, your friendly staff, or your guarantee. It could be about belonging to your tribe. Sometimes it's a 'feel good factor'. Or the kudos of owning your brand.

There are many other things too.

These extras are often intangibles. Hard to grasp but nevertheless real. And valuable.

Want to know how to find out what your customers are REALLY buying?

And then how to package these benefits so you can increase your prices?

If so, ask me.