These are just a few of the intangible things that customers value more than price, according to Seth Godin*.
clip: Jim and Dwight close the sale even though they cost more than the competition.
In his blog entry "The Intangibles", Seth goes on to name and explain five other intangibles that will stack the deck in your favor when trying to get new and repeat business in a slow economy, or anytime for that matter.
"When providers are stressed or scared or pressured, they instinctively resort to price. It's the intangibles that drive all of the non-commodity decisions, and your job is to build remarkable ones and tell stories about them."
He is spot-on with these "intangibles". As a consumer, I have chosen one business over another for the very reasons Seth is talking about. Although at the time I didn't have a name for the reason I chose a higher priced company over the lower priced competition, now I know it was the intangibles.
*Seth Godin has an MBA in Marketing from Stanford Business School. In 1995, he launched Yoyodyne, the first direct-marketing site on the web. Companies like American Online , American Express, H&R Block, Microsoft, Procter & Gamble, Sprint, and Volvo used Yoyodyne's services. In 1998, he sold Yoyodyne to Yahoo! for $30 million. Godin became Vice-President of Direct Marketing at Yahoo!, a position he held until 2000. He has also the written 11 bestselling books.
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