Perceived vs. Real Value. Do You Know the Difference?

Marketing your products and services is a never ending challenge. When thinking about unique ways to market, consider perceived vs. real value.

Perceived value is essentially the customer’s subjective opinion of value. In many cases, it may have nothing to do with price. It’s simply about meeting specific, personal needs that have been shaped by forces (interior/exterior) unbeknownst to the marketer.

To get a handle on perceived value, consider creating focus groups based on your partners, customers and prospects. Focus groups are a relatively inexpensive way to uncover perception and capture feedback from those that mean the most to your business.

Surveys are another great way to get a good read on what the community is saying about your business. Create short surveys – less than 10 questions – so those on the receiving end won’t feel taxed to complete them. Utilize online, easy-accessible tools like SurveyMonkey.

Think hard about the questions you want to ask. To do this, first define your end goal. Is it to understand how your brand is perceived in the marketplace, to determine if customers are happy with your products, or just to understand what your team is doing right (and what areas need work)?

Once you establish your goals, work backwards and draft your questions. Balance what you hear in these forums against where you want to be in the marketplace.

To Market We Go!