Our house is a tip right now.
We’re in the middle of having some building work done, so the kitchen’s in the dining room, the living room’s in the play room, and the less said about the front room, the better.
The kitchen got ripped out the other day, revealing two things we’d had hidden under a drawer for a while.
First, a smattering of coins and a couple of notes – not exactly buried treasure, but £15 or so.
Second, a pile of Pokemon cards, which we’d purchased with the best of intentions to use as rewards (read bribes).
Unfortunately for us, our eldest son was the one that discovered both stashes and being a six-year-old faced with a choice between cold, hard cash and worthless pieces of card, he made the sensible decision.
In an instant, he hoovered up each and every card, stuffed them in his Perspex folder and waltzed off into the distance, leaving every penny behind.
While this episode probably highlights our need to provide our heir with a little more financial education, it does make a very useful point when it comes to marketing:
Value is in the eye of the beholder, and until you know what your audience values, you’re unlikely to create a compelling offer that gets them to take action.
Defaulting to offers that focus on discounts or money off might appeal to a certain tranche of buyers, but they might not be the buyers you want.
Plus if you can find your equivalent of the Pokemon card – something with high perceived value that costs you less to deliver – you’ll end up with more on the bottom line.