You’ve never seen that acronym before?
WIIFM = What’s In It For Me?
If you are in the business of selling a product or service, this is what every one of your customers, or potential customers, is thinking.They don’t care what you or your company need.
That isn’t meant as an insult. It’s just a fact of life.
If you think your product or service solves a problem that’s great. But first and foremost you need to understand if and how it solves that problem for your customers. What you do for your customers is your "value proposition"; it’s What’s In It For them.
If your value proposition is good enough, people will part with their money to buy your product. If they don’t feel it provides them value they won’t.
If you hate chopping onions, you’ll purchase tool that makes it easier, like the SlapChop. I don’t mind chopping onions with a knife. My wife does, so we own a SlapChop.
Where technology is concerned, my family prefers the elegant design and ease of use of Macs, so we have chosen to pay extra for that privilige, because it has value to us. It may not to another consumer who may prefer a PC.I like the fact that Steve Jobs and Apple are ruthlessly concerned about my experience with their product.
You could define your value proposition based on what you think you do for the customer, but the customer isn’t concerned about what you think, and often has a funny way of deciding what is important to them. It’s better to ask your customers – or better yet in this social media age, to listen to what they say – and take your value proposition from that.
Don’t be afraid to refine it if people find new uses for your product either. That often allows you to enlarge the potential market.
Just keep in mind that it isn’t about you; it’s all about them.If you constantly keep that in mind you will build better products that people want. And you’ll sell more of them.
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