We hear the word value thrown around pretty regularly.
The challenge that most organizations face when addressing value is having no consistent way for them to look at value or build value in a way that is meaningful to their audience.
But if you are paying close attention to your market, you will realize that there are 4 building blocks of value:
- Function
- Emotion
- Life altering
- Social
The combination of these forms is where value is really created.
If you are looking at function value, you need to focus on how your product or service creates a new circumstance or a new opportunity.
Emotional, duh. Plays on people’s heart strings.
Social, creates a positive impact or shows a positive face.
Life altering, improves their life or changes their circumstances in some way.
The key is to look at value through a preset framework. That way you can deliver value to your market in a consistent way.