The Value and Cost of Almond Butter
I’m a huge fan of Jonathan Fields. In a recent post about measuring delight, he wrote about trying to convince his sister than Trader Joe’s almond butter was just as good as the brand she buys at three times the savings. Once she tasted the TJ brand, she wasn’t convinced. To her, the brand she bought was worth what she paid for it.
He expounds further about how he was measuring the value based on how much she could save, but that wasn’t her metric for determining the value of the brand she buys. To her, it only cost an extra $10.00 per jar and was worth it and she delighted in every spoonful.
What does this mean for your business?
The challenge was, how do we determine or deliver value for our service or product; more importantly, does our client see the value? Are we measuring delight based on our perceived value or based on the metric our client perceives as value?
As I digested the meaning of this story about almond butter, I wondered, How does my client perceive value? What metric is most important to them?
The traditional real estate mantra of, I’m the best, we sell the most, #1 producer, top brokerage, etc. is just an exercise in building ego, IF our client doesn’t experience value. The challenge occurs when what we offer may not be what our client values.
Our value proposition can often be a set of metrics determined by what we have seen or heard others do, or what we were told by our brokerage. I wonder how our clients perception of value would differ from our own. What’s most relevant to them?
Do they care if their home is all over the internet? Some people don’t.
Do they want fliers? or a personal website for their property?
Open houses? Most of us have determined there is not much value in open houses and I actually have many clients who agree with me, but what about the one who doesn’t?
Communication. Have we become so entrenched in our form of communication; whether it be email, text, twitter or voice mail, that we fail to meet our clients expectation.
Just today I printed out 48 pages of the HOA documents for a client who doesn’t like email. She is 65 and prefers to hold it when she reads. This is the very type of person who is not comfortable with DocUSign.
Cost of service or value of service?
We often hear our profession is overpaid. Could it be we have devalued our service based on our criteria? What if we ask our clients? Would their story be different?
How do you create value? What do you do to guarantee your client experiences delight and you create a raving fan who values your service and knowledge?
In today’s world where new technology has entrenched almost every area of service, how do we deliver service on a personal basis? I would love to hear your thoughts.