Raising Your Perceived Value

A colleague of mine in the Midwest is just starting out and has a lot of questions about how to market his video business to high end brides. One of his recent questions to me was about perceived value and how to raise it. I thought I’d share on the blog what I shared with him. Many of you may already know this, but if not, I hope it helps you in your business.

There are three main areas in which you can raise your perceived value:

1. Raise Your ACTUAL Value. First and foremost, make sure you’re producing a quality product and providing quality service. Once a client gets past all the sales and marketing hype, you have to deliver. If your product can’t back up your hype, go back to the drawing board.
2. Price = Perception. People associate quality with price. If you have a low price, you’ll have a low perceived value. A high price will result in a high perceived value. Even if the quality isn’t really there. Most of the expensive name brand products you buy at the store are made of the same material or ingredients as the generic stuff, but because they are more expensive (and have fancy packaging) people assume it’s better. If you say your prices start at $5,000 or $10,000, clients will look at you like a $5,000 or $10,000 vendor and just take for granted you’re worth it. (The hard part, of course, is finding the ones willing to invest that much in you).
3. Branding. I can’t say enough about branding with regards to perceived value. There are so many ways to define “brand.” But, one of the simplest is just the feeling or thoughts that people have about you when they hear your name or see our product. What do you think about when you hear “Ritz Carlton”? Now, how about “Motel 6″? So many things make up your brand: your website, biz cards, brochures, the work you do, how you dress, how you communicate with clients, etc. They all should flow together and support the image you want to have of your company.

Remember, the optimum word here is “perceived.” How will people perceive you or your business when they first meet you or come in contact with your website. In the end, make sure the perception is fulfilled in the product and service you provide. If not, you won’t last very long.

Cinematic Studios in North Bay Biz Magazine

This month you get a double whammy of Cinematic Studios in the press. First it was EventDV Magazine, and now North Bay Biz. This is a regional magazine that covers business news in the Marin, Sonoma, and Napa county areas of Northern California. In this month’s issue, there’s a terrific write up on little ol’ me. If you’re in the SF Bay area, see if you can pick up a copy. If not, you can read the article by clicking here.

In the article I wax philosophic about the importance of wedding video, how I got into the business, and my hopes for the future. The author did a great job at relaying exactly everything I said. Usually in pieces like this they always get something wrong. My hats off to Stephanie Derammelaere for getting it right. And what’s really cool about it is that it’s nice and long, but exciting all the way through.

Let us know what you think about the article.

technorati tags: North_Bay_Biz, Cinematic_Studios, Wedding_Video, Main_At_and_Garden_Center

A New Day is Dawning

The Easter season is one that brings to mind visions of death, and new life. It is only fitting then that this Easter we put to rest the “old” Cinematic Studios, and bring to life, a new creation. As we continue to evolve and take on larger corporate clients, we are switching our wedding and event business to a “by referral only” basis. This will allow me to focus our marketing and development efforts on clients like you: dynamic and exciting companies and artists looking to expand their brand and businesses with cutting-edge, contemporary film and video production. We hope you’ll continue to stay with us for the ride. (article continued below image).

For those of you in the wedding and event business who have worked with us (or want to work with us), we encourage you to still refer clients our way. All we ask is that you make sure they’re a good fit for what we offer. That means that 1) they like our unique style, and 2) are willing to invest our minimum rate ($5,000 as of this blog post). When you get a moment, visit our new website and tell us what you think.

Here’s to a new beginning.

Build Your Business with Video Blogging

As some of you may know, I’m a contributing writer to EventDV Magazine, an international event videography trade mag. This month, my wife Tasra and I got the feature article for our submission, “Build Your Business with Video Blogging.” If you’re a professional wedding and event videographer, you may already have this month’s issue. Whether or not you get the magazine, you can read the article online. Enjoy!