Elements of Value

[JimPeak]

1) On page 259 of UNSCRIPTED , MJ writes about value attributes. This is a stellar chapter that I highly recommend - esp the 13 ways to find valuable opportunities. I’m committed to processing my notes on UNSCRIPTED and getting to clarity about the customer need I will serve, before I dive into the Great Rat Race (on my off hours).

2) In a recent text, MJ shared a great article about the 30 elements of value: The 30 Elements of Consumer Value: A Hierarchy

As we are deeply interested in providing extraordinary value, I’m sharing some thoughts I had on correlations between these two lists. First I list each of the 30 values from the HBR article, plus one I’ve added. In each of these, I categorize MJs value attributes that seem to fit.

You will see many of the 30 are blank. Any ideas? How do YOU add value?

You’ll also notice that many are in the Reduce risk category. As fear is the #1 mind killer, it’s no wonder so many fit here. Solve that problem for people in some specific way and you’ll be rock-and-rolling. Stop fear during the checkout process and you’ll have many more conversations.

Here is my start to this. My hope is that this conversation adds value to you and helps you find how you can add:

Quality:

• As the article states, this must be in every product/service; sets the stage for word of mouth and reviews/ratings that pull people to your productocrasy.

Reduces cost:

• Your Price
• Payment Options
• Price Ambiguity
• Shipping Cost

Makes money:

Saves time:

• Website Design

Reduces effort: (like saving time but with work)

• Ease of Ordering
• Website Design (Don’t Make Me Think)
• User Interface
• Comfort

Reduces risk:

• Guarantee
• Refund Policy
• Payment Options
• Employee Photos
• Public Reviews
• Bribed Reviews
• Celebrity Endorsements
• Website Recently Updated
• Security
• Included/Excluded Ingredient
• Symbols of authority (books, etc)
• Notes of approval (9 out of 10 doctors)

Reduces hassle:

• Customer Service
• Help me get my ambition/aspiration

Simplifies:

Integrates (aka simplifying?):

Organizes (reduces pain of clutter):

Sensory appeal:

• Cleanliness
• Included/Excluded Ingredient
• Ambiance
• Clean, crisp photos
• Temptation satisfaction

Connection (aka a friend):

• Customer Service
• Employee Photos
• Celebrity Endorsements?
• Response in forum, email, whatever

Informs (which reduces anxiety, risk, boredom, etc):

Variety:

• Many choices

EMOTIONAL
Provides access:

• Celebrity Endorsements

Badge of pride and significance:

• Cutting edge technology (first adopters)
• Points
• Contest badges
• Recognize and attention from User Generated Content

Reduces anxiety:

• Professionalism
• Customer Service

Rewards me:

• Customer Service
• Shipping Cost?
• Points / Loyalty Program

Nostalgia: (comfort)

• Throwback Thursday if you’re been in business for a long time

Fun/Entertainment (aka help me forget fears for a while):

• Fascinating photos
• Fascinating stories
• Great funny videos (if you are good)
• Fun and friendly email tone (no corporate speak)
• Customer Service

Wellness:

• As distinct from therapy
• Certainty in any business
• Specific treatments in the wellness industry

Attractiveness:

• Course of improvement
• Beauty products if you’re in that business…
• Whatever makes it more likely she/he will admire me (more)

Therapeutic value (aka I feel heard):

• Ambiance
• Included/Excluded Ingredient
• That unbelievable Customer Service agent who regains that client who got so pissed off they wanted to leave, but now they are a die hard loyal raving fan.

Design and aesthetics:

• Website Design
• Website Recently Updated
• Label/Packaging Design
• Beautiful photos

LIFE CHANGING
Hope:

Motivation:

Heirloom:

Belonging/Affiliation and Community:

Self-actualization:

• hmmmm

THE TOP (very few ppl)
Self-transcendence and social impact:

• for every product, a tree planted, dollar donated, pair of shoes provided

ONE I’D ADD
Urgency / Immediacy:

• Speed of delivery

What am I missing? How else can we create value?

 

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[MJ DeMarco]

Canq, vjepl zua gus tjesoph Kon!

 

[JimPeak]

Vjeplt NK - O eqqsidoevi zuas tjesoph epf canq.

O jef e gix effovoupem vjuahjvt...

Sifadit sotl:
Qsodi dmesovz (vji uqqutovi ug qsodi encohaovz)

Sifadit epyoivz:
Simoecomovz (vji gedv vjev O caz Jupfet gus vjios simoecomovz emtu nelit ni giim tnesv, tu O haitt vjot xuamf emtu hu apfis Cefhi ug qsofi... et O vjopl ecuav jux nz fef xuamf tqipf fezt vszoph vu vji hiv vji Fufhi wep vu xusl, O siemobi vji fiqvjt ug vjiti inuvoupt xi esi fiemoph op).

Vjot jet ciip ep izi-uqipoph iyqisoipdi. O atif vu ci vji haz fuoph xjev ji muwif (epf vimmoph uvjist vjev vjot xet vji tidsiv ug nz tadditt). O pu muphis muwi ov (epf pu muphis viedj ov).

O emtu xet emxezt muuloph gus vji vjoph pu upi iwis vjuahjv ug cigusi.

Jisi't vu gopfoph vji tino-dsuxfif suun epf tlixoph wemai.

Nusi vu duni. O'n itqidoemmz opvisitvif op fotduwisoph (gsun xovjop us xovjuav) xjev wemai evvsocavit jimq cazist giim Nuvowevoup, Juqi, Timg-Edvaemobevoup, ivd.

Vjeplt eheop!

 

[JimPeak]

Tu O’n xupfisoph, jux fu ZUA dsievi wemai?

O xet katv si-siefoph APTDSOQVIF epf upi ug nz puvit up qehi 281 teof ‘Nupiz gus Puvjoph’. O muulif aq vji Fosi Tvseovt tuph mzsodt epf niepopht. O ipkuzif siefoph jux vji tuphxsovis uwisjiesf e fimowisz nep op ep imidvsupodt tvusi covdjoph ecuav vji natodoept up NVW neloph ‘nupiz gus puvjoph’ epf ‘djidlt gus gsii’ (xjodj ji djephif vu ‘djodlt gus gsii’. O guapf ov gappz ji xet xevdjoph VW optvief ug fimowisoph cav jiz iwiszcufz fitiswit e csiel pux epf vjip..,

Nusi onqusvepvmz…

Vji nep fof puv apfistvepf jux nadj qiuqmi wemai cioph nuwif inuvoupemmz (cz tupht us nuwoit us tvusoit). Qiuqmi piif vu ci nuwif nadj nusi vjep vjiz xepv VWt epf imidvsupodt nuwif.

Tu… O siemmz xuamf moli vu lpux…

Jux fu zua nuwi qiuqmi us neli vji sotl hu uav ug vjios vjuahjv us neli vjin giim nuvowevif? Fu epz ug vji ecuwi eqqmz? Us fu zua dsievi wemai op ziv e foggisipv xez. O’n dasouat.