Self-Realisation, Uncategorized

Price and satisfaction

You don’t need to read many reviews to realize that the correlation between price and satisfaction isn’t what you might have guessed.

It’s super rare for someone to write, “5 stars. The product wasn’t perfect, it wasn’t exactly what I needed, but it was really cheap, so, good job!”

In fact, things that are free (streaming music or movies, blog posts, speeches, etc.) almost never get bonus happiness because they had the lowest possible price.

And almost as rare is the review that says, “This is terrific, it was magical and solved all my problems, but I’m only giving it three stars because it had a high price.”

If you want to create satisfaction, the two elements are:

Make useful promises

Keep them

Price is unrelated, except for one thing: Charge enough that you can afford to actually keep your promise. The thrill of a low price disappears quickly, but the pain of a broken promise lasts a very long time.

Reblogged from: here

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Self-Realisation

Sort by price

Imagine a supermarket (or any store, for that matter), where the items are arranged by price. At one end is the salt and the chewing gum, and at the other end are mops and steaks.

We always think about the cost of an item before we buy it, but we don’t buy it because of what it costs.

If you find yourself acting like you sell a commodity, saying, “this is category X and the price is Y” then you’ve ceased doing any sort of marketing. You’re a commodity provider by choice, which is fine as long as you’re okay with competing in a race to the bottom.

The alternative is to do the difficult and risky work of earning attention, earning a reputation and mostly telling a story that takes your product or service out of the commodity category and into a space defined by connection, meaning and possibility instead.

Low price is the refuge for the marketer who doesn’t have anything more meaningful to offer.

Reblogged from: here