What do you do when your value has no value?

It seems we have a difficult time explaining value these days. We say things like “value-added service” and “more bang for the buck” and “we value you, our Clients” — but then we explain things in ways that do not show value to those we are trying to help. “If you buy five, the sixth one is free.” Wow! Now that’s definitely not value. How about those phone calls from credit card companies that tell you you’ve been preapproved? Technically, if we’re talking preapproval, doesn’t that mean you have not been approved yet? … which means they just pulled your name out of the phone book.

Value means customers are getting something that is definably worth more than they are paying (or asking) for. It means that the value is obvious and instantly understood. Value means you are giving more than they expected and whatever you’re giving had real value before you gave them more. There is nothing less valuable than giving someone more of something they thought was worthless to begin with. Consider this illustration: A friend of mine asked me if I wanted to go to a new restaurant. I asked whether the food was good. He said it was not really that good but the portions were huge. Great! It’s what I have always aspired to be: pudgy and average.

Top performers spend the time to create value propositions. A value proposition explains what the issue, problem or need is; describes the specifics of how you will deliver your solution; and explains how the solution will make money, make life easier or create a desired success. Each value proposition can be customized for each occasion, but it’s very important to have brief, clear, easily repeatable propositions that everyone can use.

The value proposition is not an elevator speech or a mission statement. It is focused directly on showing how value will occur when your product, service, idea, or leadership style is chosen.

Those of you who already do this well please tell the rest of the world so we can help put the value back in value.