The other day I passed a shop with a huge sign out the front saying ‘Why pay more’?
The sign was intended to be rhetorical… “as if anyone would want to pay more!”
But it actually communicated to me the Industrial Economy mindset behind this store – here goods were considered interchangeable commodities and the only reason to buy here vs elsewhere is price.
The problem in a globally connected economy is that if your only USP is low price, you don’t have a USP. Today, there is always someone, somewhere who has deeper pockets than you and is prepared to cut your grass – a sad race to the bottom.
The truth is there *are* reasons why people would want to pay more.
We pay more because your brand provides value we can’t get elsewhere.
The good news is that value can come in many forms, not necessarily a lower price.
In our Connection Economy there are now several new and unique ways for your Brand to deliver value that weren’t possible before:
- Over time, you personify a worldview that we (perhaps subconsciously) aspire to
- You connect us to other people who also share the same niche of niche worldview
- By being connected to your network, over time we grow to become more than we could outside your network
- The more who are connected through your network, the greater the value of the network for each participant
This kind of value *is* a USP, is hard for members to walk away from and is difficult & time consuming for competitors to replicate.