I received my Ravens playoff tickets invoice in the mail the other day. Of course, this isn't the best month to shell out $500, but there's no way in the world I'm not paying that invoice.
What is it about certain "luxury" products that become necessities?
It's always about the emotional attachment you have for that product, never the logical reason or justification.
Do your customers feel that attachment to your company or products or are you something that an accountant can prove is good for them?
If your not selling your products in a way that connects emotionally with your customers, you're one good salesperson or one low-ball deal away from losing your customer.
Do you customers tell stories about your great service to others?
Do your customers pay a premium for your products that have a lower-priced equivalent?
If yes, than that's emotional attachment.
Additionally, don't make the mistake that your emotional attachment to a tired, old business model or less-than-perfect product is shared by your customers. Your customers can live without you -- unless you give them a good reason to feel differently.
What is it about certain "luxury" products that become necessities?
It's always about the emotional attachment you have for that product, never the logical reason or justification.
Do your customers feel that attachment to your company or products or are you something that an accountant can prove is good for them?
If your not selling your products in a way that connects emotionally with your customers, you're one good salesperson or one low-ball deal away from losing your customer.
Do you customers tell stories about your great service to others?
Do your customers pay a premium for your products that have a lower-priced equivalent?
If yes, than that's emotional attachment.
Additionally, don't make the mistake that your emotional attachment to a tired, old business model or less-than-perfect product is shared by your customers. Your customers can live without you -- unless you give them a good reason to feel differently.
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