Value is a feeling not an actual number or calculation. Since value is a feeling and not something that is actually tangible, can you create value or perceived value for something? The answer to this is simple, YES. YES you can. It is done every single day in every single way.
Let me give you an easy example. In the last year or so I have started playing golf. Well, playing golf may be a lie, I go out to the golf course every couple of weeks and hit a tiny white ball around in an open field called a golf course. So I attempt to play the game.
For about the first few months of playing golf I borrowed a set of golf clubs from a friend of mine. Since we were playing more and more, I decided it was time to purchase some golf clubs. So I go into Golf Galaxy and I wanted to purchase a set of clubs that came with all of the needed clubs as well as a golf bag. I had in my mind a price that I wanted to stay around.
It came down to really two sets of Golf Clubs. There was a set of Top Flite Golf Clubs and a set of Adams Clubs. Both sets had the same number of clubs and the bags were similar. The Adams set was about $200 dollars more than the Top Flite set. Guess which set I purchased? I purchased the Adams set of golf clubs. You know why? Because Tom Watson is one of the Pro-Golfers that endorses Adams products. Adams is a product that I have actually seen on Sunday afternoons that the Pros actually use. I don’t recall ever seeing Top Flite by any of the pros. I went over my budget to.
You know how much my golf game has changed since when I borrowed the golf clubs and I purchased my Adams set? NOT MUCH! You know why, because I don’t practice, I don’t take lessons. I just play and that is when I am practicing so I don’t get any better.
Is the Adams set any better than the Top Flite set? I guess some experts would argue that, but it doesn’t matter, I felt that the value was there so I purchased.
Value is a feeling, it is an emotion. It doesn’t matter what actually is, it only matters what you feel it is. When you feel the value is there, you will make a decision and purchase. So as a salesperson, your job is to create the feeling in your customer’s mind that the value is there. You do that by helping them discover why they need your product, when they are able to see that the value will be there. Just like me and my Adams Golf clubs, the sales person said that they were the most forgiving golf clubs, he couldn’t say that about the Top Flite. I need a lot of forgiveness on the golf course, but it hasn’t helped much.