Creating Value

When customers purchase something, it’s for one of two reasons.

They either need or want something.

If a customer needs something, they are likely looking for the cheapest, most convenient option. They don’t care where the product comes from as long as they get it.

If a customer wants something, they care where the product comes from and considers all their options. Only purchasing the product that most closely aligns with their values and budget.

When a customer wants something, they don’t need it.

Invariably, they’re purchasing a want for different reasons than a need.

A brand’s job is to know what a customer wants and bring it to the forefront of the brand. And by knowing what a customer wants, a brand can differentiate and create value for the customer. By creating value, you create more customers.