Marketing

14 Problems People Are Willing to Pay For

I walked by a chiropractors office noticing a big sign in the window that said “Improve your wellness”.

What does that even mean?
I thought chiropractors worked with the spine?
Do spinal adjustments increase wellness? Or
is this chiropractor more like a coach?

It’s just not clear to me.

Brands often use vague benefits that prospects don’t really understand or care about.
Even worse, so many companies are founded without understanding the true reason they exist.

What you need to do first is figure out what you’re really selling or what position you can occupy in the mind.

Mercedes doesn’t sell cars, they sell prestige.
Volvo sells freedom from worry of accidents
BMW sells enjoyment of driving

Chip Conley as well as Al Ries talks about this in their books. Abraham Maslow taught us that humans live by a similar set of fears and desires.
These fears and desires spark a predictable group of categories that can be used
to align your products or services to a message that matters to the prospects.

Here are 14 problems people are willing to pay for:

Make more money
Save money
Retirement security
Better health now
Health care security
Security in old age
Advance in profession or trade
Prestige
Enjoyment
Easier chores
Gain more leisure
Comfort
Reduce fat
Freedom from worry

The true test of a good business idea is whether or not people are willing to pay for it.

Figure out where your brand fits in. Fix a problem that matters and align your company and your stories around it.


Also published on Medium.



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