There’s a really good chance that someone is looking at your website and forming an opinion about your company right now. Or maybe they are driving past your building, seeing a social media post, or meeting one of your employees. We can’t always be present when people form opinions about our businesses. This is why Marketing is more important than ever.
Marketing is how we let people know who we are. Much of the prospect’s journey is self-directed via your website, e-news, or social media. Most of your Undifferentiated Value is formed through these passive sources. The average small business website will cover the basics: Your name, what you do, where you do it, and your marketing slogan.
In order to demonstrate Differentiated Value, you need third-party affirmation of your worth. Testimonials, reviews, social media comments, and awards establish what other people think of you. If your marketing is credible, then this differentiation will increase your perceived value. The market will suggest that you are worth more. Nice, right?
Branded Value comes from the prospect’s first-hand experience. When potential buyers interact with you and the experience is as good or better than expected, then you have opened the door to Branded Value. If the actual experience of transacting doesn’t conflict negatively with anticipation, then the client may decide that your brand is their only choice. The more folks that recognize and endorse your brand, the easier it becomes to establish and maintain Differentiated Value.
If you followed along with the graphic, you will quickly realize that Undifferentiated Value isn’t that valuable. It’s necessary, but you need to do so much more.
Marketing isn’t the only path to Branded Value. In the past companies have relied upon their salespersons to take the buyer on a journey that hopefully culminates in brand loyalty. The human touch is still important, but it is not as efficient as marketing for uncovering leads and prospects. In the meantime, your target customer will be touched by your competitor’s marketing.
Tom Stimson MBA, CTS helps owners and management teams rediscover the fun and profit that comes from making better decisions about smarter goals. He is an expert on project-based selling and a thought leader for innovative business processes. Since 2006, Tom has successfully advised over two hundred companies and organizations on business strategy, process, marketing, and sales. Learn More at TRSTIMSON.COM