The Gift Of Time

An online ad for Dyson‘s undoubted hairdryer disrupter. It costs scarily way more than competitors. Articles abound comparing the run of the mill $50 product with their $500 one.

A random example, from gizmodo;

“Dyson has this irritating habit of making wildly expensive products that are actually kind of worth the money … The Supersonic hair dryer is even more overpriced than other Dyson products, but it is also an outstandingly good product”

I have used it. There’s no doubt it’s terrific. Quirky looking, quiet and quick. But a price tag multiple of (at least) ten beyond the norm?

Well, this staggering differential did not impede its sector stampede. Even in China it instantly carved up a ten percent market share.

Upon launch, I recall many analysts thinking there would be only a small take-up. Contained within professional salons alone. And in just a small number too. This proved to be an inaccurate forecast. The same retail ‘experts’ probably said in 2006 that the iPhone was a gimmick.

One corporate sales takeaway from this successful (both retail & business, remember) product launch, is that if you’ve a unique distinguishing factor, then never be afraid to charge for it. Why get involved in the deadly race to the bottom when you can genuinely command a (significant) price premium?

I’ve seen many a standout new release fall down this hole by trying to sell at the same price level as competition. Hoping that the extra ‘features’ will sway prospects. Spoiler alert; it doesn’t.

Secondly, let’s consider that strapline;

The gift of time. Less time drying more time looking fabulous.

Does your solution present the gift of time to your clients?

Many a b2b package purports to. If so, what does it enable the happy user to spend less time doing? So they can devote more time to what attractive alternative exactly?

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