On the last day of our vacation to Sedona, my wife and I spent a whole lot of money on something. What exactly that something was isn't important here; what's important is how our perception of value changed so quickly and dramatically.
At one point we saw this thing as having absolutely no value to us. And then a very short time later (with the help of some very effective marketing), we saw the same thing as very valuable.
Your success as a marketer of your services has everything to do with communicating this value. The good news is that you can do this by following a very exact formula.
Let's call it "The Value Formula."
You could think of The Value Formula as the DNA, the essence of marketing. It's what changes something from valueless to valuable, often in the blink of an eye.
Are you using the value formula when you're marketing your services? Just note the parts of the formula you either use or don't use every time you market your services:
Focus Clearly communicate exactly who your services are for. Be specific, not vague. People want to purchase a service that was designed just for them, not for everyone.Empathy
Demonstrate that you understand the pain of your prospect. Prospects are looking for pain relief, but first you have to show that you understand and empathize with their pain.Solution
Show that you have a cure for the pain. And talk about what things will be like when the pain is gone and things are finally working and pain-free. Spread some hope.Benefits
Talk about all the other great things that come with your service, beyond just pain relief. What else do they get with your service that will make them feel even better?Proof
Tell a story of how a prospect (just like them) came to you with a pain, and how you worked with them to provide an effective solution (to remove the pain and make things better).Process
Explain how this pain relief actually works. Relate the story behind its development. Outline the steps to take. Show what happens and how the prospect will be involved.Credibility
Tell about yourself and how you became an expert working with people like them with similar pains and how you've been successful at relieving pain for many, many people.Action
With confidence and clarity, tell your prospect exactly what they need to do next to find out more about this service and determine whether or not it is right for them.
There is one simple rule with the Value Formula:
Use the COMPLETE formula every single time you communicate about your services to a prospect. Your conversations, your web site, your presentation, your emails, your articles, and your sales meetings all need to embody the Value Formula.
If you leave out a step, something happens. Prospects won't grasp the full value of your offering. They won't show interest, won't want to find out more, and won't become clients.
If you can afford to push away clients, by all means, don't use this formula. I've noticed that it's rarely used by Independent Professionals.
Why is that? That's a topic for another time!
The More Clients Bottom Line: Applying the Value Formula is the simple, yet effective key to all marketing. Use it and you'll attract more clients. Fail to use it, and despite the inherent value of your services, your prospects will fail to see and appreciate the value, and simply won't do business with you.
Are you using the Value Formula in your marketing? Do you have a story about how it's worked for you? Please share on the More Clients Blog.
It looks like you really had a nice time.
Posted by: marvel | October 30, 2008 at 02:22 AM
Hello and congratulations!
Posted by: warren | October 23, 2008 at 11:24 PM
http://www.sitepalace.com/firewall/
Posted by: derek | June 30, 2008 at 09:07 AM
According to a press release from SoftBank Mobile, the Japanese service provider has secured an agreement with Apple to bring the iPhone to Japan this year. The deal will ensure the iPhone’s first official access in Japan’s market.
Posted by: Merfilin | June 04, 2008 at 02:06 PM
Many people suffer from any kind of pain, i'm one of them, i have back pain becouse i work with heavy stuff, i know there are many like me,and the problem is the money for the drugs, Where to find cheap drugs ?? why prescription ?? well i want to give you an advice one find a doctor friend, two surgery, tree use drugs, the easy is the number 3 i give you a link where i go, a place that work for me, where they help me www.trustedprescriptionsonline.com, or go to your doctor and see the real problem, hope i help you
thank you
Posted by: mateus black | September 28, 2007 at 03:04 PM
Dear Robert,
Thanks for the inspiration on your recent post.
My name is Oren, from Israel, recently
joined ActionPlan after a referral.
I've lived a life of "possibility".
I've got a profound hearing loss, and
it taught me to fight for things I believe in. Just living a "normal" life with a profound special needs takes a lot of the "possibility" approach.
Recently I've started applying this to promoting peace. I'm involved in a project called "conversation with others" which brings Palestinians and Israelis to conversations guided by a relationship coach. There have been Israelis interested, but it was harder reaching out to Palestinians. With considerable effort, I've been able to reach out to a few dominant peace activists and enroll them. They are the key to contacting and enrolling people from the Palestinian side.
I'll also be visiting Palestine for the first time in my life, meeting, talking to, and helping people. If these seeds could grow to only a shadow of John Wood's activities,
it could change many people's lives, and bring hope to a faster solution between our two countries.
Your connection to Nepal inspired me.
I visited there in late 1999, trekking. I was able to save the life of a Western traveler who got altitude sickness. And give first aid to a
local girl who was injured. Nepal is one of the most magnificent countries in the world.
I congratulate you for your investment in John's foundation. I contribute much of my time and resrouces to hearing impaired groups. It's a way to bring a change to humanity.
After a career in High-Tech, I've started coaching, studying with CTI. My prime focus is career changes, entrepreneurship, and hearing impairment.
I live in a very rural area of Israel, hich dearly needs such services, yet as unique challenges in reaching out to people. Globally I wish to esablish myself in the field of
hearing coaching (both privately, and for businesses).
Which of your material would you suggest that I invest in?
Yours truly,
Oren, Israel.
Oren Tal Dvoskin-Avidov
Cielago - Life and Business Coaching
Cellular: +972-54-3069591
Home: +972-4-6948239
Fax: +972-4-8141162
email: [email protected]
Posted by: Oren T. Dvoskin, Israel | September 18, 2007 at 09:57 AM
Regarding "The Value Formula"
I sell media replication and multimedia services. I concur with Robert's point that to be successful, ALL 8 points must be utilized. I would say that's true even if circumstances have landed you the sale before your using all of the points.
Here's an example: Many prospects contact me when they are under pressure. Often they need something like 2,500 CDs copied and packaged for next week's conference. The initial call is often quick, with no time for me to present all the 8 points. I usually get the order because the prospect feels they have no choice. Nonetheless, I use the subsequent communications over the next few days to touch on all the points -- to convince this new client that he or she made the right choice in giving me the order. I find this successfully transforms the relationship from my being perceived as a "one-time vendor" to "THE Go-To Provider" for all of their future media needs.
Posted by: David Ryan | September 09, 2007 at 11:56 AM
Hi Robert,
I love the way you lay this out so clearly and simply. I'm just writing a sales page at my website and I'm going to follow your formula.
Thank you.
Posted by: Jan Marie Dore | September 05, 2007 at 03:36 PM
Hi Robert!
You mentioned the word "story" at least three times in your recent blog entry. How about sharing your story as well? It will serve as a vivid example to illustrate "The Value Formula".
How exactly did the marketer quickly and dramatically alter your perception about that "something"? What effective marketing techniques did he/she use?
I'm sure your readers (me included) would appreciate it.
Thanks in advance!
Posted by: Alvin | September 05, 2007 at 03:34 AM
Robert,
I'm a writer and photographer. Reading over the value steps, I was struck by how they are all elements of a good query letter or letter of introduction in my field. Good to know I'm on the right track and a useful tool for analysis and improvement, thanks.
Posted by: kerry dexter | September 04, 2007 at 05:04 AM
I guess The Value Formula is one of the widely accepted way of service marketing. This is one of the proven methods which makes clients think of the value of the service they get or will get and not the value they pay for that service. If a service is not customer centric then it is not a service. It becomes a product which caters to group or masses and will be valued less than the service.
For an e.g. their are LCC (low cost carriers) airlines and PCC (premium cost carriers)airlines the only difference is the valued service.
I would thank Robert for putting the formula in simpler words to grasp. Full credit for converting it into parts.
Posted by: Rupesh Bhat | September 04, 2007 at 02:40 AM