Are your marketing efforts merely acknowledged or truly indispensable to your organization? This distinction matters. Let’s explore the difference between being seen as ‘valuable’ versus ‘valued’ and discuss strategies to enhance marketing’s perceived impact and worth.
What is value marketing?
Value marketing focuses on shaping consumers’ perception of a brand’s value based on service, benefits, and the balance between cost and value received.
7 Simple Ways to Increase the Value of Your Marketing Strategy
Make it Count
Your leadership team must count on you for high-quality, timely work within budget. Beyond meeting expectations, it’s crucial to show the tangible value your contributions bring to the organization.
Anticipate
Your company must focus on markets, customer groups, and products while staying updated on trends, customer preferences, and competitors. Understanding industry trends and customer needs is key to effective planning and success.
Build an internal and external network
Marketing teams should collaborate with other departments like operations, finance, and IT, rather than working in isolation. Connecting with external contacts also provides fresh market insights and creates new collaboration opportunities.
Be a thought leader
Your leaders should trust your knowledge. Write articles, give talks, join panels, and blog about topics linked to your work and industry. Offer fresh ideas to help your company grow
Work on What Matters
Being a valuable marketer is about prioritizing tasks that make a real impact, not just checking off to-do lists. Focus on improving customer satisfaction, boosting revenue, and reducing costs for the company.
Be a Change Agent
The business world changes constantly. Companies need to adapt to new market and customer trends. Embrace and drive positive change. Instead of just completing tasks, find ways your work can solve problems and help achieve company goals
Communicate in business terms
Focus on the impact of your work and how it drives business success, not just completing tasks. Companies value those who make a significant difference, so show how essential you are to the company’s success.
What is value-based marketing?
Value marketing focuses on how your products or services meet customers’ needs, saving them time or money or improving their lives. It’s customer-centric, building trust by addressing pain points and offering solutions. This approach connects emotionally with customers, promoting value without overtly selling.
That’s value-based marketing. There are four types of value in marketing:
Functional
Functional value refers to the product and its use, such as the benefits to customers who use it.
Emotional
Emotional value is anything that makes your customers feel good when they use your product.
Economic
Economic is the cost of the product or services, with the value being the cost of your product versus the cost savings of using your product.
Social
Social value refers to whether your product helps individuals interact with others.
