Tuesday, November 25, 2014

Dollarize your Software

You need to set a dollar-value on every part of your product. That advice comes from Jeffrey J. Fox, the author of "How to Become a Marketing Superstar - Unexpected Rules that Ring the Cash Register."

Unless you know how much your software is worth to your prospects, you can't do the big-picture marketing functions that are necessary for your success. Knowing the value of your product or service to your prospects and customers is essential, Fox explains, when

  • Determining which product to develop next
  • Segmenting your market
  • Positioning your product
  • Setting prices

And unless you know the specific dollar value of your software, you can't create the advertising messages you need to sell it, specifically

  • Developing product claims for your web site
  • Overcoming price objections from prospects
  • Explaining product payback and return on investment (ROI)

Software buyers don't care how long it took you to write your application, or how difficult it is to make it compatible with each new release of Mac OS, Windows, iOS, or Android. They only care about how much time or money it will save them.

Dollarize your software, and many of your marketing tasks will be simplified.

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