People aren’t actually buying the physical thing or service (I’m just going to use the shorthand of “product”) that we are selling. They’re buying the benefits and emotional impact that the product delivers.
We don’t hire an illustrator for an amazing image. We hire an illustrator to create an image that embodies what we’re selling. We’re buying status – “Check out this amazing cover of my new book! This famous illustrator I was able to pay with a good deal of money shows you how rich, connected, and amazing I am” We’re buying time – “That would have taken me years to draw!” We’re buying the feeling of being able to co-create or art direct something without having to build up the skills to do it yourself.
We don’t buy a Civic Hybrid because we need a car. We’re buying the idea of sustainability, ownership, and private transportation. We’re buying safety, reliability, and the time saved of not having to take a bus. We’re buying personal space and agency.
We don’t buy lingerie because we need underwear. We’re buying the feeling of being desired, of being sexy, of being wanted. We’re buying the look of lust and desire in our partner’s eyes when we undress. In a way, we’re buying love.
When we’re creating our product offering, remember what you’re really selling – it’s all emotional, and this is what is really creating the value.