Everyone knows that the key to earning and keeping clients is creating value. But how exactly do you do that? Before you can answer the question of “how,” an equally important introductory question just might be, “what is value?”
At its most basic level, value is a number. The dictionary would say that it is the numerical amount denoted by an algebraic term; a magnitude, quantity or number. It’s as easy and as difficult as that. Let me ask you, “do your prospects have your number?” If they use your product or service, do they know what they can count on?
In the realm of sales and marketing, many teams take an easy and unprofitable way out. Our team is always surprised at the statements that well-intentioned marketers use to pass as value statements. They talk about the color of their product… or provide a long list of features… or tell you how user friendly they are. Are you guilty? (Hey, we’ve all been there…) Legal departments, boards and other members of leadership make it difficult to quantify the true value of a product or service. But even in the midst of such formidable opposition, it is the job of the marketing superstar to find a way to quantify the value her service offers.
Not too long ago the advertising airwaves were full of commercials for fitness, health and wellness. Nearly every commercial in that industry communicates value in terms of a number – Lose 10 pounds in 2 weeks… lose weight and eat six times a day… lose at least 12 pounds in 12 weeks or get your money back.
When you use a number you know what you are signing up for.
Tax time also looms and H&R Block really mastered the value equation with their “Get Your Billion Back” wave of messaging. One highly effective (read valuable) commercial shows a concession worker placing $500 on every seat of the football stadium he works at. I don’t know about you, but if there’s a coupon and a foam finger or towel on my chair I’m thinking I won the lottery. I can’t imagine going to see the Cowboys play only to be greeted by a bundle of 20s… Turns out that Americans are giving away a billion dollars to the government each year by doing our own taxes. I think of Cowboy Stadium in Arlington, and just how much money that is… and then learn that a billion dollars would be like finding $500 on every stadium chair in every professional football stadium in America. This is a value statement that I can understand, almost see, smell and touch. It’s brilliant… and if you haven’t seen the commercial you should watch it.
If you’re content with the results you’re seeing then you should stop reading and move on to another email… But if you’re starting to realize that value is communicated through a number, here are some things you can start collecting today:
- When you’re listing out your features, answer the question “so what” and then include a numerical value: what does this mean in dollars to the bottom line or in productivity?
- What are the quantitative ways your customer’s business be improved? Can you quantify the effects your service will have on their PERSONAL well-being? TRY… as this is extremely persuasive.
- In numbers, what does it cost a customer to go without your service? Show your prospect how you arrived at this calculation. (Think what H&R did by explaining what a billion looks like)
There are many creative, persuasive ways to communicate value (the number) to your listening audience. It’s hard work to identify those points, but when you figure them out, you’ll be world’s more effective for the process. I for one want to see our nation lose some pounds, and by golly, stop doing our own taxes!
Doing things just a bit different is what we do at Rogue. Contact the team for more ideas on how to express your value.