Value Gone Stale
February 16, 2023
In recent survey results on the least desired Valentine’s Day gifts, one of the top choices was the classic heart-shaped box of chocolates. Over half of the respondents in this survey agreed that this gift represents a “cop-out.”
Forty or fifty years ago, the heart-shaped box of chocolates was new and different. For many, the thrill of receiving such a box has waned over the years because they are so ubiquitous.
And yet there are many Valentine’s Day gift recipients who love presents that are both classic and involve chocolate. These individuals look forward to that heart-shaped box of chocolates.
Here’s the point: values are not only different from client to client, but values change over time for each individual client.
It’s the same with your clients, professional services providers. Their perception of value changes as their business or personal situation changes. What was special when the engagement with you first started is now viewed as passé.
Value can grow stale.
Maybe your clients see services bundled differently from other providers. They might see a service someone else offers that they think might be something they need. Maybe you offer that same service, but you’ve got blinders on, dutifully fulfilling that engagement the same way you always have.
That’s why value conversations aren’t a one-time thing, occurring only before the sale. The best value conversations aren’t just those that dive into both tangible and intangible perceived value. The best ones are also ongoing, exploring changes in perceptions of both tangible and intangible value over time.
What’s the equivalent, in your practice, of the heart-shaped box of chocolates?
Image created using Craiyon (Formerly DALL-E Mini)
(This blog post was also posted on LinkedIn.)
©Ray Business Advisors, LLC and John Ray
About me: I help solo or small professional services firm owners with the confidence and positioning necessary to improve their pricing and change the trajectory of not only their business but their life.
I have a podcast called The Price and Value Journey, which features interviews with industry leaders and audio versions of my blog posts. You can find the podcast on your favorite podcast app.
I also have a book coming out in 2023: The Price and Value Journey: Raise Your Confidence, Your Value, and Your Prices to Grow Your Business Using The Generosity Mindset.
For more information, go to PriceValueJourney.com