Value is one of the strangest concepts that we get to have as a society. We have many social constructs built upon the idea of “Value” and what is valuable. Our currency, homes, stocks, etc. are all built on this idea of “value.” There is also an idea that Value is equivalent to your Return on Investment. When we get into terms of marketing, it can be a correlation or indicator of customer satisfaction.
“Price is what you pay. Value is what you get.”
To de-mystify “Value” and apply it to Digital Marketing, our goal is to create a framework for our clients that allows “High Value” results for clients and your business.
Take a moment and study this image:
The value equation is simple but powerful. Value can generate a Return on Investment but only when its been fully completed. To define Value, we have to define the right side of the equation:
A. Benefit to others, asks the question of, “Am I creating benefits to clients, customers, stakeholders, others?” This can be applied to your customer service, social media posts, website content, videos and campaigns.
B. Quality, what is the quality of the above interactions? for example, there is a disparity between the effects of a high quality video post and a low quality video post.
C. Consistency, asks “How often are you interacting with the stakeholder?” How often are you emailing, posting to social media, creating top of mind opportunities?
The primary idea to understand is that if any number on the right side of the equation is zero (0), the multiplication will solve into zero (0). That would then make the Value, and resulting ROI, equal Zero.
If Benefit to Others, Quality or Consistency is Zero – Your Value is Zero.
This is a guideline for planning out your digital marketing. If these can’t be done, then seek outside help. Hiring a part-time employee that only does social media for you or signing up for our Social Media Success Plan, can then begin generating huge Value for your customers.
When all three items are running well, it creates a synergy and culture for your online audience that brings an authenticity to your digital marketing. This is critical for reaching Generation Z as well. Currently, 83 percent of Gen-Zers turn to newspapers (both online and offline) for trusted information and content because of the lack of authenticity in most marketing practices.
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