MBA1176 How To Add Value To Your Offer At No Cost

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It's time for Dell Tech Day's annual sales event celebrating our customers with fantastic deals and benefits. Perks include Dell rewards, free shipping, premium Support and more. PCs like the Dell 14 with Intel Core Ultra processors will help you do more faster and with a premium suite of monitors and accessories, you can upgrade your whole setup with amazing savings. Visit Dell.com deals. Hey O. Welcome to the $100 MBA show valuable business nuggets every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the Hundred Dollar mba, a complete business training and community online. And in today's lesson you will learn how to add value to your offer at no cost. Whatever your product is, whatever your service is, there's a price tag attached to it. That's called your offer. How much you charge for what you're giving. Every business has this. Whether you're selling courses, whether you're selling consulting services, coaching iPhone cases, it doesn't matter. And sometimes we get into a slump in sales, we're not making enough money. So we think, hey, I, I need to improve my product, I need to add more things, I need to add more modules to my courses, I need to add more bonuses, whatever it is. And sometimes that's true, but most of the time that's not true. You think by doing this you're adding more value and therefore people will buy. And if there's something that I've said over and over again, it's this. People buy when they perceive the value of your product is more than the price. But where do people get this perception how do they perceive the value of your product before they buy it, before they sign up? Well, they get that information from you, from your sales pages, from your website, from your emails, from your whatever. Often your product is enough value. It's more value than the price that they're gonna pay, but your customer doesn't know it. So in today's episode, I'm gonna show you how to add value, or I should say perceive value, so people can understand, hey, this is what you're getting. This is why this is such a great deal and why you have to buy my product or service to help you with your need or want. I'm gonna give you actual examples from the marketplace, from products and Love, and then you're going to do the same with your own business, with your own products and services to increase the value without even paying a dime, without doing any extra work, without investing into new technology or any of that. Can't wait to get into all that. So let's get into it. Let's get down to business. The first step in this process of adding value to your product or showing the value to your customers is your mindset. Really. It starts with you, and it has to be super clear in your mind. You have to understand that, hey, somebody who comes to your website and learns about your products or services, they only know what you tell them. If you don't tell them something about your product, then it doesn't exist in their mind. If you sell drones, for example, remote control drones for, you know, your camera or your iPhone, and your drone comes with a rechargeable battery, but you don't actually say that on the website or you don't actually explain that. The assumption is, is that it doesn't come with that. As makers, as producers, as business owners, we think some things are obvious when they are not. They're obvious to you because you have built this product, this offer. But for other people, they're going to assume, hey, maybe I have to use my own batteries, maybe I have to use AA batteries or whatever it is. And they're missing out on that point. And if they knew that, they'd be like, oh, cool, it comes with rechargeable batteries. I didn't know that. Other drones in the market could all come with a rechargeable battery. But if they don't know that yours comes with it. Something that they're not considering, it's something that they're not adding to the information. They need to know if your product is valuable enough for the price. Here's a Great example of a product that does this so well. Recently, I've been getting YouTube ads for Google's new phone, the Google Pixel. Right? The Google Pixel 3, I believe it is. And in this ad, they focus on one feature. It's really valuable. That really makes people think, wow, this is a really cool phone. And they give this feature a name. It's called Top Shot. And basically they give you all these scenarios where people take photos, whether it's a group selfie or a child blowing out birthday candles, and how when you take that photo, often the photo you take, the timing is just not right, and they're making weird faces in the photo, or the child blowing the candles has their eyes closed. But with the feature of Top Shot, when you take a photo, they actually save a few frames before and after the photo. So you can actually grab the best version of that photo, almost like getting a still from a video. And you see this commercial like, oh, this is so cool. No more eyes closed or people making funny faces. I can change the frame and choose the right frame that has everybody looking good. I want to get the new Google Pixel right. That's the impression they're giving. They're giving you some immense value. Guess what? The iPhone's had this for some time. It's a feature in the iPhone. And. And in some ways, it's actually better than the one in the Google phone because they've been doing it for a while. But Apple doesn't talk about it now. Yes, Apple probably talks about other things and has so many features, they can't really point it out. But because Google points this out as one of their features, people say, wow, that's great value. I want this phone. They don't assume people are gonna think that this phone will have this feature. Great example. Classic example of this is Lucky Strike. And it's an example that's used in Mad Men, one of the first few episodes of Mad Men, the show. They're brainstorming on how they can differentiate Lucky Strike, the cigarette company back in the 60s, I believe, how they can differentiate from the other cigarette companies. And the main character on the show, Don Draper, says, hey, how do you make your cigarettes? And the founder of the company says, hey, we toast our tobacco, or we actually roll it up into the cigarette. And he said, there it is. We're going to say, your cigarettes are toasted. Your tobacco is toasted. But then he said, well, all cigarettes, you have to toast the tobacco before you roll it up. It's like, it doesn't matter because no One's saying their cigarettes are toasted. They're just kind of glossing over there, forgetting about that. And it's a pretty cool fact. It's something that makes you valuable, and we really should expose it. The whole campaign is built upon that. So take a look at your own products, your own services. What unique things are you doing that you're not talking about? Even if they're not unique, even if your competitors are doing them, but can have some great perceived value for your actual customers? You need to talk about it on your website, in your literature, in whatever you do. Now, if you have a pretty large product or a service or a course or whatever you might be saying, I got so many things I could talk about. What do I choose? What do I start with? This is simple. Ask yourself, why do people buy your product? I'll use Webinar Ninja, our webinar software, as an example. Why do people buy Webinar Ninja? Well, to run webinars. Right. Okay, that's a very simplistic answer, but why do they run webinars? Well, they run webinars so they can be able to sell their products. Okay. Why do they want to do that? Well, because they want to grow their business. Okay, so let's take a look at the features in Webinar Ninja that help them sell more of their products and services and grow their business. That makes it easier to do that. It makes it attainable. That's where I start. Because that's really going to affect the actual potential customer. They're going to say, this is going to allow me to get to my goal faster. This is going to allow me to use this product easier with less headaches than other products. That would get me to my goal. So. So we're going to focus on how fast it is to create your webinar. You can do it easily and fast so you can get going quickly. We're going to focus on how you can follow up with those who register for your webinar to send them marketing emails, alternative offers. We're going to focus on the webinar finder, how we help you get more attendees by giving your webinar exposure to thousands and thousands of people every day. And yes, there are other things I can talk about. There's other things that are of value that aren't directly related, related to growing their business, but those are going to be pleasant surprises when they actually get into the actual software and they actually buy the product. Some of us feel like, well, I need to cover everything. We'll cover the things that really affect the bottom line, that gives them a return on investment. That really is the reason why they're buying your product. If you're buying a course, what result are they looking to get? How are they going to be able to apply it quickly? Are they going to have the support along the way to get there? Focus on those pieces of value and make sure that you're explicit about it on your website. One of the ways to do that on your website is to have a features page and you can go and list all your features and highlight them briefly. And you can have a separate page about that feature going more in depth. But you need to mention, you know, the value and the return on investment of that feature right on the features page. And then below that feature mentioned, you can say, learn more about this feature here. And it could be a link, it could be a button. You click it, it goes to a new page where you have more details about that feature. It's okay if your features page is a bit long. People are there to see all the features. Think about it. When you're buying a new product or service, you're hungry for information. You're searching for that information on the site. You're devouring every piece of info that you can find. Video, text, images, so you can make your buying decision. So give them what they want to give them that information. In fact, with Webinar Ninja, our webinar software, we have improved the software, added new features, refined it, made it better over the last year that I need to go back now and revisit our website and improve it and add some pages because I'm leaving off some things that are really important can really allow people to see the value and sign up for our product. So this is not a once and done thing. You're going to do it and revisit it as you improve and grow your business.

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One of the best ways to learn how to improve your value proposition and to really focus on the things that work is to ask your actual users, your buyers or customers, why they signed up. This is something I love asking because one, it feels good, right? They give you all this great, you know, information, all these compliments, but it allows you to understand what made them make that decision and, you know, say, hey, I want to give this product a try. Sometimes you're going to be surprised. I got surprised because we get answers like, hey, I really like your blog. Your blog is helpful. And I feel like your product will be helpful if you have that sense or that you have that kind of vibe going on your website. Okay, we need to do more of that. Some people said, I like the fact that I know who's behind the company, that you, the founder, Omar, you're the face of the company and you do the webinars and you do the videos and that's pretty cool. Listen to your customers, find out what made them customers and continue to focus on those things. Sometimes you'll spend a lot of energy trying to add value in areas that really don't make much of a difference. Those who actually made that decision to buy. Well, that wraps up today's lesson. Thank you so much for listening. I hope it was helpful. If you thought it was great, if you thought it was okay, let me know. In an iTunes rating and review, I read every single one of them. It takes two minutes and allows other people to learn why you listen to the show so they can listen as well. Also, when you leave us a rating and review, enter our weekly random draw we call free ride Friday. Every Friday we do this. We give away a lifetime membership to one of our programs. We do a weekly random draw with everybody who has left us an iTunes rating and review. So if you leave us a review, enter that draw and you can win. Just listen on Friday and see if you won. All right, that wraps up today's lesson. Before I go, I want to leave you with this. Business and commerce is really a set of simple rules. This is one of the big rules. People only buy when they perceive the value to be more than the price. To make sure that you show them enough value, say they buy. And then your job is once they buy is to make sure they're delighted. Great service with a great experience. Thank you so much for checking us out. I'll check you in tomorrow's episode. Free ride Friday. I'll see you then. Take care.

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