What is it about that blue box – the iconic Tiffany’s box.
What’s inside isn’t, typically, very exciting in purely objective terms. A relatively plain diamond engagement ring (okay, the engagement itself is exciting), a charm bracelet, heart necklace or pair of generic earrings the like of which you could easily find at Zales? Half the magic of Tiffany’s is knowing it came from Tiffany’s – the iconic mecca for diamond and Audrey Hepburn fans. There’s romance in that box that is only tangentially related to the jewelry.
There’s also social cachet.
I don’t mean to sound jaded. I wouldn’t turn a down a blue box or its contents. But I do want to point out that its value isn’t intrinsic: it’s perceptual.
Perception is a very individual thing, influenced by life experience, personality, past interactions with your brand and your competitors (and with certain classic movies). Perception is the voice that whispers “Yes, you should buy the Poinsettia Flower Pot Cake for $165 because Oprah said so,” or “Hey, maybe I’ll give AirBnB a chance – Kim looks really comfy.”
Perception is so subtle, many of us don’t pay it much attention. But marketers do. CROs do. And you should, too.
Even the words you use in your value proposition, marketing, and product pages will mean slightly different things to different people. The words quality, premium, economy, value, guarantee might mean “an intelligent purchase decision” to some buyers, or just mean “cheap” to others.
It’s because perception is so varied, and I would argue malleable, that it can be influenced to generate higher conversions – without increasing your own costs.
And you don’t need Oprah or Kim to do it.
Hey now – this isn’t entirely self-serving. Customers want to feel good about their purchases, that they’ve made the best possible decision on a product that meets their practical and emotional needs. And, when they do feel that way, they tend to be more loyal. Everybody wins.