Our marketing comes down to an expression of value. There are two main ways of expressing value to your clients and prospects, tangible value and intangible value.
Tangible is physical or measurable.
Intangible is often not physical and not something that you can quantify.
How do we express value in a tangible way?
Here are several different forms of tangible value that you can use to talk about value with your customers and prospects:
- Price: Simple and easy, the price is often the worst way of expressing tangible value because it lends itself very readily to commodity thinking.
- Cost savings: Again, pretty easy to measure and pretty straightforward. You can express value through telling your targets how you are going to save them money.
- Time: Time is easy to express value in a number of different ways. You can save time through less stress, fewer meetings, faster time to market. Or, you can add time as in ways that enable people to move more quickly into a market, giving them more time to make money. Or, you can help keep customers longer, which should have the impact of allowing customers to have a higher lifetime value.
- Earned income: How can you make more money? That’s typically one of the core ways that people express value to their potential partners. Is it always the best way. Not necessarily, but it is a way that is easy to understand and adds tangible understanding to the offering.
- Assets: Physical items. If you aren’t careful, you often feel like this is the only way to offer tangible value. In some cases, that is correct. In many others, it isn’t and it limits your impact because you are thinking about how you can deliver some thing that will allow you to show your value.
This isn’t a comprehensive list of tangible value. We could do that for a while, but I think these buckets should be useful to help you start thinking about value in a bit of a different way.