October 12, 2009

Marketers -  you are in the Value Creation Business

Want to BE DiFFERENT in your marketing efforts? Then get rid of a product mentality and adopt a value creation one!

Pushing or flogging products is all about what you have chosen to provide the market rather than value that customers find relevant and compelling. Particularly in these tough economic times people are looking for getting great value for their scarce dollars. They are not particularly enamored over flogging suppliers; they will follow their ‘value noses’ to the BE DiFFERENT business that has figured it out. Winners market value propositions; they don’t promote products and services.

Take the BE DiFFERENT value test. Write down the specific value that your chosen customers get from what you produce. Take each product feature and write down the value that the customer receives when they use it. You’re not in the business of supplying anything. You should be in the business of creating value for customers. Not high speed internet access but fast access to information, or entertainment at your fingertips or learning in the solitude of your home or? You get where I am going here. Get yourself thinking of why your customer buys your product. It’s not driven by cool technical functionality. NO! It’s what all of this does for the person…. the value it creates when it is used.

I was recently directed to a study presented to the Society for Personality and Social Psychology in San Francisco California. Check it out: ‘Buying life experiences rather than material possessions leads to greater happiness for the consumer...’

Think about the implications for marketers. Doesn’t experience define value to a large extent? Absolutely! So when you set to creating value for your customers (a right angled turn away from pushing functions and features remember) put your customer experience lenses on and ask yourself ‘What cherished experience am I creating for my customer? What memories am I fostering? If you were a value creation manager for a hotel resort in Whistler BC you might think about ‘Mountain Adventures’, ‘Unforgettable Weekends’ and ‘Mountaintop Flying’ and not hotel rooms, Italian food and Ziptrekking. The Fairmont Chateau in Whistler BC is offering some interesting expriences.

I want to hear from those of you who are spending every awaking moment of your day creating experiences for your most precious assets. Bring it on!

Cheers, Roy Osing

Remember to follow me on Twitter

Related Blogs
Holistic Offers
Customerize your Marketing
Twitter Value
Twitter - Customer Learning Tool
BE DiFFERENT Quiz

Marketing | Permalink
Posted 10.12.09 at 02:46 pm by Roy Osing | Read Comments (0) | Leave a Comment