Value. What does it mean to you? More importantly, what does it mean to your client? When you put these two together, how does value exchange play a part in your customer life-cycle?
Before we dig in, let me give you a definition of “value”:
According to dictionary.com, Value means “1. Relative worth, merit or importance. 2. Monetary or material worth, as in commerce or trade and 3. The worth of something in terms of the amount of other things for which it can be exchanged or in terms of some medium of exchange.”
Let’s focus on number 3.
Value is the essence of the products and services you provide. If you didn’t have value, you would not have any clients. Your clients come to you because of the value your products and services give them and you would not be in business if what you offer is not valuable.
However, value doesn’t have to be a one sided transaction, it can be an exchange – it should be an exchange!
Since your products are providing value to your customers the more common exchange is a dollar value because let’s face it – money is valuable to your organization!
BUT, value exchange between your business and your customer doesn’t always have to be money.
Think of other things that are valuable to you and your company. Things like your customer’s email address are valuable. What about their demographics and even psycho-graphics that will tell you about their interests, their likes, dislikes, fears and even what they like to do in their free time?
One of the most valuable things to a company is data.
When you have data about your customers, you can use the data to customize the brand experience you provide to them. When you dig deeper into your ideal audience’s personality, you can use this information to find out what is valuable to them and base your products and services off of this, from there.
This creates a loop of value that is exchanged between you and your clients. For example, your current customers purchase from you because they think your service is valuable. The first exchange is money.
Then, you send out a survey to find out more about them and their lifestyle and purchasing decisions.
Your client has given you valuable information that you can take to create a new and improved service that is customized to your audience so they feel like (and know) you are creating services for them. This is valuable to your customer because the service you are offering to them caters even more to their needs.
This is only one example of how value exchange works between company and client. There are many ways that you can consciously and consistently provide a value exchange between you and your customers.
First, think of the things that are valuable to you and your company and make a list.
Then, make a list of the things that are valuable to your client. If you are not sure, don’t be afraid to ask them about them what they want.
There is an opportunity to keep improving the value exchange you have between you and your customers to continue your relationship in an endless value loop.
Creating Memorable Impressions For Your Brand 