Marketing or branding
Marketing is understanding business through the market lens. Branding is understanding business through the customers lens. They both work together. One is not “better”, “more important” (aka strategic), than the other.
Getting some profit
650 in revenue with 200 in costs. It can be a good deal. If you think of covering your costs and get some profit. But here’s the thing. This is self-centered. It’s all about the seller. All about your costs. About your profit. It doesn’t take into account your customer. To what they value. To what they can find fair. Now move this same behavior to an expertise business. It doesn’t cost you anything: Thinking Coming up with new approaches Seeing things differently, Knowing how to do something…
650
Here’s Billy. A specialized b2b expert in a very niched market. Yesterday, he got to sell a custom application (B) for a client as an added featured to another product (A). The costs of the materials of this added (B) application are $200. The price set, 650. Is this a good or a bad deal? . . . . . . . Your answer here. . . . . . . The price for the base instrument (A) is $ 16 000. . . . Still keep your thought of good / bad deal? Let me know what you think. PS. The main device (D) to where…
Is another good idea
The message from yesterday was asking “What’s the opposite of a good idea?”. A bunch of responses —myself included not long ago— said “A bad idea”. And it makes sense…. if we’re living in a world of dualities, win-lose, zero-sum, black and white. But that’s not the case. 🙂 Listening to this amazing conversation between Rick Rubin and Rory Sutherland, here’s what Rory said: “The opposite of a good idea is another good idea.” Because creativity (and originality) is not about beating the…
Your value is not important
Value pricing. There’s a big misconception with it. It has nothing to do with your value —or how you perceive your own value, or how your customers have to understand what you sell to show them how you justify your prices. Or how much effort you put into it. Or how cool you are. Or how great your work is. None of it. Take yourself out of the picture. Value pricing has to do with what your customer values —what they believe is important. Value pricing takes this factor and prices in alignment…
Either option is ok
No such thing as purpose branding. You either have it in your business or not. And either option is totally ok. You can have a business led by purpose or not. And either option is totally ok. Just have this in mind: if you do lead your business with purpose, purpose is the thing that drives and aligns all decisions and actions. Building a brand rests on your customers, not you. And it’s an effect, not a cause.
Hey, wanna play with fire?
Negotiation. How do you identify yourself in this case? Focusing on what’s important for them (your customers)? Or playing with fire? Check this vid out, and let me know.
No fucking way!
“No fucking way!” That’s what you want to hear from your customers. As in: “No fucking way! That’s really what we wanted all along. After trying with other options, how is it you got it SO fast?! That’s amazing.” You get to that by delighting them. And asking the right questions. And —while having a broad range of understanding— with a deep knowledge of what you’re really good at. And willing to understand. To listen to get it, not to reply. And pushing them back on their thinking. And…
Show them the door
Hard truth: Customers don’t hate anything more than “being educated” (especially by you). In the sense of “Hey, you, customer. I know better. Let me educate you.” It’s so obnoxious. Don’t educate them. When you choose to educate others, it comes as condescending. And in a disparity of power dynamic. Come along and understand where they come from. Then, give them the information to make their decision. Show them the door.
Fast, cheap AND good.
Fast, cheap AND good. All of them. How? You might ask. Well, setting up the right frame. To have it fast, you’d assume time is the key element. But what if it’s faster than the others? To have it cheap, you’d assume how much you can charge in comparison to others. But what if you provide options (with a high anchor)? 150 000 is cheap —compared to 5 million. To have it good. Well, if you can’t deliver good, do something else. And if you can’t deliver good, say no. Small detail here: this can…