Let's Spit a Few Words About Value Today!
May I bother you today with a bit of theory, that seems to be misunderstood lately. I mean, don’t get mad, we all want to digest something practical, but sometimes unless we understand the theoretical principles we just cannot understand how to bake the bread.
The concept of value is multidimensional and deep and cannot be explained only with few words. Today I will try to elaborate what the term value truly means in marketing, based on some experiences I have encountered so far.
Value was spoken largely just two decades ago when the first quality systems appeared that put their creators and implementators on the top of the market pyramide.
Today value seems to be bit forgotten in time of severe competition between value providers and high level of cosumption awareness at consumer’s side. They are no longer blind acceptors and they refuse to buy what we offer them. Design is no longer such a strong psychological factor in the purchase decision, of course unless you are Apple.
To add on this, most companies are facing serious conceptual gap. They simply intend to satisfy a need but not to create value.
Where is the problem in this case?
• First, human need is almost always repeated and can never be fully satisfied with independent individual acts. Those actions must supplement themselves, must be part of the whole. On the other hand businesses intend to satisfy a need only when there is economical benefits from it. That is why I will repeat – the time of client targeting simply to achieve economical benefit is history and therefore emotion and indivudual valuation of the client must be part of our offer in order to establish a permanent link and to deliver value.
• Second, many companies focus themselves on short-term harvest without focusing on their longterm vision with persistence and dedication, and therefore they fail to deliver a legacy that will last and will be spoken of.
Bloggers generate content based only on the SEO principle – texts stuffed with keywords that must be indexed by Google instead of telling their own story descriptively and from heart before their niche. They want to achieve fast success instead of temporarely sacrificing themselves for something greater that once developed fully would have the power to change people’s lives in times of scepticism and ignorance.
Value and short term success are inversely proportioned. Value does not simply represent need satisfaction and cannot be built within a month or two. Value is built inside your client’s head, not outside. And what is most painful for most of us – value is not always measured in monetary units. That is precisely what prevents many marketers and entrepreneurs from seeing the big picture.
Most of today’s companies are anxious and greedy. Exactly this sort of behavior is sucidal for most of them in the new millenia. There is almost no space on the market for new Apple or Google. This means that mass markets dissapear and market niches are more and more common. Companies must learn to create unique value for this specific niches and story that will make your group identify with you. That is precicely what Richard Branson did with his notty brand Virgin where thousands of hippies found themselves. Buzzers and critiques will always be there. However not every buzzer is your client. Then why would you distract your focus and energy on them neglecting your true brand ambassadors, the ones that share your vision.
Now you may say –But our universities used to say “Pay attention to every bad critique because it spreads 5 times faster, bla bla bla...
I say - Screw university!