Here is a cautionary tale from Marketing Maestro, Winston Marsh.
As I wandered through a shopping centre the other day I spied a vendor who had hired a spot in the mall for a week or so. They sold saucepans and, as I fancy myself as an accomplished chef, I wandered over to see what they had that could possibly add the finishing touches to some of my epicurean creations.
And there it was… a small double decker saucepan, just like I wanted. I could do peas francoise in one level and stuffed pigeon beaks in the other. It just had to be mine.
Then I looked at the price tag, and almost fell over. It was one hundred and ninety four dollars. One hundred and ninety four flaming dollars. I didn’t want to buy the whole display, just one double saucepan. I could get saucepans like that for about thirty bucks in the supermarket.
There was nothing to tell me why I should pay that sort of price and the stall holder remained stonily mute despite me evincing interest. So I walked away… saucepanless!
The experience did put a stone in my shoe, however. I wondered why those saucepans were so darned expensive. So I went back to my office and googled it.
And that’s when I found out how fantastic the saucepans really were. They could cook the whole meal for you and make you the go to chef of your social set! Do everything but read the recipe!
The testimonials were even better, hundreds of them. People had been using them for thirty years, they never lost a handle, cleaned themselves, brought up their children, made Brussels Sprouts taste good, healed the sick, etc.
But the stall holder didn’t tell me or anyone else that. I suppose they reckoned that people who knew the product would recognise it – but if they last as long as claimed they wouldn’t need new saucepans! As a neophyte saucepan buyer I didn’t know any of the benefits. I was left in the dark.
They hadn’t spelled out the benefits!
They should have had the testimonials all over the place and the stuff about what made the saucepans so good everywhere. The stall holder should have extolled the benefits!
In the absence of benefits people buy on price. Give them reasons to pay the price and they will buy from you.