Adding to the perceived value of your brand
How we perceive things really matters, particularly when making purchasing decisions. The perception of your product, service, and brand is as important now, perhaps more so, than they have ever been.
Friend recommendation is still the most powerful influence in shopping behaviour, closely followed by consumer reviews. The boom of social media and ease in which your opinions can reach more people more quickly, has led to many people expecting “perceived value” to play a huge role in the success of small and medium businesses.
“How can we add to the perceived value of our products and services?”
Fortunately the answer lies largely in a marketing technique that is often more cost effective, quicker to implement, and has a bigger impact – Psychological Solutions.
Many companies, particularly IT companies, will focus on a purely technical or economic solution to increase revenue. Whilst this can often be very effective it is also normally comes at a large financial cost.
For example, cloud computing is a very hot topic at the moment. Many people see it as the future of most IT services for business and personal use. One of the biggest barriers, that business owners have reported in moving to the Cloud, is security. Concerned over whether information is easier to access than the information they keep on their office premises.
The reality is that cloud computing is far more secure as there are fewer risks, better security both offline and online, regular backups of your data and much more.
The response some cloud computing providers, to the many survey results that are being collected, is to invest huge sums of money to increase security even further. Spending more on extra levels of back-up, investing in experimental firewall software, and adding more and more technically advanced solutions to their server rack.
This is not a bad thing, in fact it is great that these cloud computing providers are concerned about improving their product. However, it is not balanced with a change in perception for the end user.
If they were to take a small percentage of the finances used to improve the technical specifications and invest it into changing the perceived value of the product then the chance of revenue increasing is potentially far greater.
One man on a mission to spark this advertising revolution is Rory Sutherland. Check out the video below to watch his speech given at TEDxAthens last December.
Rory Sutherland: Perspective is everything
What do you make of his presentation? Let us know in a comment below. Thanks for reading.
Written by James Hay, Social Media Coordinator at Fasthosts Internet Ltd.
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