Value is Always Over Price

Show the Value to Get the Value

In the modern marketing world, business owners wonder if customers are choosing the products based on their prices; however, on the other hand, for customers, price is in 2nd place. In fact, consumers make decisions based on perceived values. That is where we need differentiation, because differentiation answers the main question for buyers: Why should I choose your product? It is not a secret that buyers fail to make logic-driven decisions when there is a lot of instability, whether from operational risk, financial stress, or mental exhaustion. They start to be pickier. They feel drawn to things that are recognizable, reliable, and obviously better.

Sometimes in real life we see so many people doing the same things and scared of changing because these people are getting into the psychology of repetition and comfort zones. When a person does the same things every day, then he gets more comfortable. I was also like that; in the professional sphere I was always scared to make changes and decisions, because what I was thinking was right was not right for other people. But finally I came to the decision of changing and not listening to others; that is where differentiation started. I want to give some advice to everyone: please don’t be scared of changing, competing, and moving. Maybe everyone is white and you are red, but you are the one that is going to get to high levels; you just need to change.

Differentiation Fails, Price Takes Over

Skipping the importance of differentiation is a very common mistake that firms are making. Sometimes the marketing department of the company is only focused on the price of a product rather than its effectiveness, productivity, and efficiency. A great deal of people consider the price as the most necessary part of trade; that is why they are making this common mistake. When you look from the aspect of a buyer, you will see that the most important thing is trust, because if a consumer trusts your company, then they will become loyal and they will not chase cheap deals. Consumers are always chasing the best deals, not cheap ones. In order for buyers to recognize why your solution is more valuable, efficient differentiation links benefits directly to final results such as productivity, efficiency, compliance, or growth.

How to Measure Differentiation

Don’t forget that it is important to use performance metrics in order to demonstrate differentiation. Feedback, client satisfaction, involvement, and loyalty are all measures of how well your value proposition is received. Powerful internal procedures result in improved customer experiences, which in turn generate financial success. Firms need to have an organized system for differentiation in order to track all the vital KPIs. They always have to reinforce what makes their company unique. Don’t worry, we got you. Assisting businesses to differentiate themselves, efficiently convey value, and convert strategy into sustainable growth are the main goals of MayIGrowth.

Founder & CEO, MayI Growth - Kanan Aliyev