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     April 02, 2008Volume 7 Number 12 Issue 189     

In This Issue

  • From the Editor

  • What Value Your Product?

  • Recommendations

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From the Editor

It appears that my WordPress installation is stable. My Mastermind group advised me to cut down the real estate used by the header graphic and make the links stand out so that they are more noticeable. That's done! Now I need to find a more appropriate theme for my site.

A great new "giveaway" is in progress. All kinds of very valuable products are available, if you will part with your email address. Check it out HERE.

I am in the process of "refurbishing" my Ebooks and More site. Again, my Mastermind group has made a number of suggestions, and I will be making a major effort to get it done this week - not sure if I can do it, but I'm giving it a try.

If you need some SEO tips for your sites, this is the book for you. You can find the ebook on Ebooks and More. This is the last week that I will mention it here.

What Value Your Product?

It is one thing to put a selling price on a product, it is another altogether to put a value on it. What value your product really has is only apparent after someone has made a purchase. You need to create a high perceived value in your potential purchasers minds so that they will buy your product.

What is Perceived Value

Perceived value is the difference between the prospective customer's evaluation of all the benefits of your product compared to the total price. Viewers are turned into buyers based on the perceived value of your product. By making , sure that your product has a high perceived value, and then delivering on it, is an excellent way to get new customers and keep them, and eventually building a strong relationship with them.

Creating high perceived value products or services is very straightforward. You can do that by putting yourself in their shoes, figuring out what is their most pressing problem, and creating a product or service that will provide great benefits to your customers. Next check out what your competitors are offering. Make sure that your clients feel that they will receive greater benefits and value from your product(s) compared to your competitors' products.

How To Create Perceived Value

  1. Find out what your customers value. What do they are really want? It could be anything from saving time or money, clear instructions on how to do something, to a complete resale package including graphics and website.

  2. Once you know what is valuable to your market, you can build additional value or benefits into your offering.

  3. Communicate that additional befits and value to your potential buyers. For example, there is little value in a video to a blind person, but there would be value if you provided audio transcripts. Although the cost to create an audio transcript is very small, perceived value is very high. Your blind customers will be receiving a real benefit.

  4. Remember that if you deliver value when you say you will, word will spread and your business will grow; but if you do not deliver on the perceived value, your reputation will wither quickly and your business will die off. Remember, If you are known for delivering the value that you say you do, then your customers will trust you and continue to visit your site and buy from you.

  5. If you offer a free sample or a free trial period, you are telling your customers that you are so confident in the value of your product that they have nothing to lose by trying out your product.

  6. Add a Bonus Product. Does this sound familiar? I'm sure that you have come across many a sales page that has great bonus offers that are available to you for buying the original product. Make sure that your customers view this as getting more help for their problem, not just a bunch of junk thrown into the mix.

  7. Testimonials are an excellent way to add perceived value to your product. You are showing your customers that you have actual proof from others that have used your product. If you haven't had any sales yet, I suggest that you try to get a couple of big name marketers in your niche to give you a testimonial - it should be fairly easy to do if you have enlisted them as jv partners. Don't forget to use your customers so they can tell others of their experience in dealing with you and your products. The more testimonials the better. I have even seen sites that had so many testimonials that they used a separate testimonial page. Don't forget to use the best ones high up on the first page of your sales copy.

  8. A Money Back Guarantee adds high perceived value. You are telling your customers that you believe in your product so much that you are willing to give them their money back if they are not completely satisfied with your product. This lessens their fear of buying something sight unseen.

  9. Include an Affiliate Program. This will let your potential buyers know that there is a chance for them to make money from their purchase.

  10. Become seen as the Expert in your niche. Take the time to make yourself known in your niche. Do interviews in your niche - even if the interview promotes other products, write articles and submit them to article sites. Visit forums and answer questions. Take any opportunity that you can find to demonstrate your expertise in your niche. As people come to know and respect you, the perceived value of your products will. Oh yeah. Do make sure that you know whereof you speak *8>)

  11. P.S. Have you seen my new site Mr Idea's Ebookstore. As the name implies it is stocked with ebooks, scripts, websites and more.

    Recommendations for this Week

    Have you checked out this new site that will give your website a link without requiring a reciprocal link? The search engines love this. It's in the Beta stage right now, so it is free to join. Check it out at: Qassia

    If you are interested in working from home, I have a free ebook that outlines five different work at home opportunities. To get your copy just click HERE.

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