Monday, February 17, 2014

Your Perception of Your Value Influences Your Price

Do you know how Mercedes is just perceived as expensive while Hyundai is perceived as cheap. This is called market perception. When you build a perception of value and prestige your price can follow. If you build a perception of cheap and inexpensive value will follow. What perception do you want to build around your company, product or service? You are in control of that image right from day one.

Entrepreneurs might wonder, how do I create a greater perception of prestige and value around my product or service? You have to start with your actual service or product and how you "build it" (service is an act and that is another discussion). We're going to describe your value proposition in your product (although some of this applies to service, too).

Since I am a publisher I am going to describe how I create products to compete against low-value publishers. Some authors do not immediately recognize this difference. It can require an educated eye, but also high-quality products shine on merit, too. My company 3L Publishing produces award-winning products. The awards, though, are only the icing on an already stellar product. I often tell authors I can spot a self-published book on a table of books with just one glance. It's also the same "eye" that can spot if a book is good or not on the first page of the book, too (fiction or non-fiction).

Cover Design: a poorly designed cover just stands out, period. Most professional publishers design beautifully designed covers. Self-publishers often do stock images that are public domain. These covers aren't customized, and some images are easily recognizable. Do you want someone to look at the cover on your book and have seen it elsewhere? Also good design invites and pleases the eye. Poor design just jumps at the viewer. It displeases the eye. It makes you (for lack of a better description) want to avert the eye -- it's bothersome.

Yellow paper: low-quality books produced by low-value self-publishers and print on demand companies often produce yellow paper or yellowish paper. Cheap is as cheap does. Cheap looks cheap.

Mistakes on the back cover: read the book's back cover copy can reveal it's "heritage". Not only do mistakes give away it's self-publishing roots, but also how the copy is written. I can't describe it. Back cover copy is an art in and of itself. Just a glance at poorly written back cover copy screams self-published.

I've positioned my company as a high-quality boutique dedicated to producing award-winning books. I always say I am not the Mercedes (most expensive), but the Lexus (expensive but affordable) of publishers. I've positioned my company this way by the products we produce. And if you want a Lexus vs. a Hyundai of books, give us a call at 916-300-8012 or send an email to info@3LPublishing.com.

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