How to add value to your product or service without changing its price?

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Now that you know the difference between value and price, let's look at how to apply value without having to change the price.

Branding
When there are things that money can't buy, we immediately think of Mastercard. In the same way, when we hear "I love it," we associate it with McDonald's. This happens because the branding that these brands work with is very strong and they ended up staying in the minds and hearts of the public.

Therefore, in order for people to be willing to buy your product or service —even if its price is higher than that of the competition— the first step is to strengthen branding, because when the moment of purchase arrives, it is normal for consumers to opt for the first brand that comes to mind and this is what adds more value.

Competitive differential
Regardless of your segment, the truth has to come out: markets are increasingly competitive, so the public currently has a wide variety of offers from your direct and indirect competition.

If their products are in the same price range as yours or if you charge more for your offering, how do you beat the competition ? The answer is simple, by delivering value in the competitive differential .

Let's look at an example: Rock University is one of the branches of Rock Content that offers online courses in Digital Marketing. This is a red ocean , as there are many players offering the same product for better prices. Therefore, it was necessary to invest in the following competitive differentials:

Have teachers who are leaders in their markets.
Teach how to do Digital Marketing in belarus phone number list practice and not just in theory.
Issue certificates that are required by many companies in the sector.
All of this means that students see greater value in Rock University courses and enroll, even if it requires a larger investment.

Shopping day
When one of your customers makes the decision to purchase your offering, it is for a reason . Your customer will go through a path called a buying journey .

Every product or service goes through a purchasing journey represented by a sales funnel and, as such, is divided into three stages: top, middle and bottom of the funnel, which respectively correspond to the attraction, engagement and conversion of your audience into customers.

By understanding the buying journey well, you can understand the behavior of your consumers in the stages of the funnel and the type of offer that is appropriate for each one.