I am a huge fan of vocabulary… and this word in particular has fascinated me for some time now.

The word “value” — what does it make you think of?

Most people would respond: “cheap”, “affordable”, “convenient”. This is due to the common usage in the super markets with commodities such as paper plates, cups, food, toiletries, etc. But I believe the real sense of the word is not based on “price”. It has a deeper meaning.

When we use the word VALUE, it is simply the transference of trust. I realized this after reading Simon Sinek’s Start With Why. He has some fascinating points as to what great leaders do to keep their teams inspired. He talked about value, and the leader or organization’s WHY. With the reason for existing being clear (the WHY), people may decide to follow this organization if their WHYs coincide.

So, when we ask someone: “am I bringing you value?”, what we are really asking is, “do you feel you can trust me a bit more based on what I have presented to you?”. It is such a profound concept, that I had to share it in this post!

TRANSFORMING OUR PERCEPTION OF VALUE

In our earlier example with paper plates, we might see on a grocery shelf something like,
“BUY ONE PACK OF 50 PLATES, GET ANOTHER ONE FREE!” — but does a “deal” like that really bring value? Not so fast.

Also a main talking point in Simon Sinek’s book was the manipulation vs inspiration tactics. We can all manipulate our customers to buying more product by using price reductions, or rebates, or even giveaways, but it won’t take the idea very far. Perhaps a one-time or MAYBE two-time buyer will come of this tactic. But, it will not create loyalty.

The way to create loyalty, and ease, is by bringing genuine VALUE, not manipulation. Here is the same example, but with a different approach:

“WE BELIEVE IN THE SPECIAL MOMENTS IN LIFE, FOR THEM TO BE ENJOYED THE FULLEST. OUR PLATES ARE BUILT IN SUCH A WAY THAT THERE IS NO BREAKAGE, AND THERE IS NO NEED TO USE TWO OR THREE ON TOP OF EACH OTHER TO ENSURE THAT THERE IS NO LEAKAGE” – somewhere along those lines will enable the customer to feel at ease, and have a sense of connection to the company EVEN THOUGH THEY ARE JUST COMMODITIES!

Value = the transference of trust.

EVEN IF IT IS JUST A COMMODITY

I have been in the liquor industry for about four years now, and it is an exciting industry. I have a lot of love and respect for it. Some people frown upon the liquor business for a multitude of reasons. However, the thing that attracted me the most about it is the experience associated with it. The VALUE I saw was the camaraderie between bartenders, and distributors, and importers. It made me feel at ease to begin bartending as well.

Others will not see the VALUE, and state that it is strictly a commodity, therefore it has no value. I understand this sentiment, as most people are this way when it comes to commodity businesses. But, in reality, it always comes down to the company, the leadership. If the liquor company is offering one case free on top of another case, then this is just manipulation. If the company is stating clearly and consistently what is believes, and WHY it is around in the first place, it will create a loyal following.

So, it doesn’t matter that the product is a commodity, all that matters is the upfront VALUE that is being brought from the product or service. Can your product or service be considered valuable? Do you transfer trust onto potential clients with the message that is being conveyed? This is the crucial question to start with.

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In the interest of understanding more of how we operate psychologically, I look forward to having more of these conversations in the near future! I am very excited to explore more topics such as these.

Please feel free to follow me on my Anchor podcast, that I started last week!

Here is the link: https://anchor.fm/jonathan-echavarria