Feb 05, 2024, | Updated Feb 10, 2024 By@JoshuaNgala
Imagine a cityscape where structures live, breathing ecosystems rather than merely imposing concrete monoliths. Imagine verdant skyscrapers draped in lush foliage, cleansing the atmosphere with each rustling leaf. The deal is sustainable architecture.
The future is calling, propelled by the surge of environmentally beneficial structures. This isn’t some utopian fantasy. It’s the future beckoning, powered by the rising tide of green buildings and sustainable architecture.
Picture green buildings sprout fresh produce on their rooftop gardens, a vision of a sustainable future.
The streets surrounding the structures bathe in natural light, softly shimmering with bioluminescent algae. Just imagine buildings that harness the sun’s energy. The structures dance with the wind and purify the water they drink.
Conventional building methods are not only energy-intensive and dependent on non-sustainable materials. They also pose a serious threat to the environment. Hence, need for health and well-being benefits.
This is where green buildings come into play.
They provide a means of moving towards a more vibrant future and a healthier earth. A bigger contribution towards climate change mitigation with even better economic benefits.
Reconsidering the Urban Landscape
Fundamentally, green buildings are living parts of the urban environment rather than merely being constructed structures.
They are the future of cities. Imagine structures covered in vertical trees that serve as both animal corridors and natural air filters. Living walls become colorful insulation that lowers energy use and produces stunning green facades.
In addition to offering leisure areas and fresh food, rooftop gardens control stormwater runoff, reducing the likelihood of flooding and droughts.
They should equally use renewable materials to lessen their negative effects on the environment.
These structures are made of low-impact building materials. Such materials include recycled or renewable ones and are intended to use less energy and water when erected.
Green buildings and other sustainable design techniques are included in the larger category of sustainable architecture.
A Sun-Kissed Future, Wind Whispers, and Rainwater Songs
Reliance on fossil fuels should be a thing of the past. Buildings would harness the power of nature. Decentralized energy systems, such as large solar panels and well-positioned wind turbines are the foundation of green buildings. I
In the future, green architecture will involve active engagement with the natural world rather than merely passive design.
This isn’t just a lofty ideal. It’s a reality already spreading to cities all around the world. Creative architects and engineers are pushing the envelope of what is feasible.
Think structures covered in solar panels, harness the infinite energy of the sun to power every aspect of their operations. Imagine wind turbines quietly integrating their clean energy into the city’s grid as they beautifully weave through the metropolitan environment.
Envision rainwater harvesting devices that meticulously gather every drop of rainwater from the sky to replace our limited supply of clean water.
Also, think homes heated by the sun, workplaces lighted by soft skylights, and classrooms kept cold by the breeze.
This goes beyond simple energy conservation; it’s about breaking free from the constraints of finite fossil fuels and creating a more resilient and clean future. A clear approach to renewable energy.
There are challenges in the way of the shift to green buildings in the future. Higher upfront expenditures may apply, and upgrading the current infrastructure is frequently necessary.
These difficulties, nevertheless, are insignificant in light of the long-term advantages. Lower operating expenses and greater affordability are directly correlated with decreased energy consumption.
Improved occupant health results in higher well-being and productivity. Above all, we contribute to a world that will be able to support life for many generations to come.
This is a cultural revolution, not merely an architectural or mechanical one.
It calls for a mental change.
We must give up the belief that development is synonymous with steel and concrete and accept instead that the strongest constructions are those that get woven into the very fabric of the natural world.
We have to acknowledge that even the tiniest acts of creativity and cooperation can sow the seeds of transformation.
Let us join hands, architects, engineers, policymakers, citizens – everyone, to weave a tapestry of green across our planet. Let us make our cities not just monuments to ourselves, but testaments to our love for the Earth and the future we are creating together.
Every solar panel, every communal garden, and every green roof points us closer to a day when our houses heal, our cities breathe, and our future thrives.
Remember, the seeds of change are always the smallest. They waiting to blossom with every drop of sunshine. Every breath of wind, and every spark of inspiration.
Let us nourish those seeds, and watch them grow into a forest of hope, a verdant cityscape painted by the magic of sustainable architecture. The future is green.
In practical terms, leaders are better placed in positions to inspire and influence others, and to be effective. They must be aware that emotions can drive behaviors and impact people positively and negatively.
They must also learn how to manage those emotions. Both their own and others, especially for success in today’s fast-paced, dynamic work environments.
Therefore, in today’s corporate environment, a leader must work towards engaging the organization forcefully enough to achieve its objectives.
The person who possesses emotional intelligence not only has excellent communication skills.
Psychologist Goleman identified five elements that make up emotional intelligence as stated below:
1. Self-Awareness
The EI people are self-aware.
They understand their own emotions and they are able to recognize how their emotions affect their thoughts and behavior.
This allows them to better regulate their emotions and make better decisions.
2. Self-Regulation
Such individuals are able to regulate their emotions.
They are able to manage their feelings and impulses in a way that is appropriate for the situation and in their own best interests.
This allows them to remain calm and focused in stressful situations.
3. Motivation
EI people are motivated. They have a strong desire to achieve their goals and they are willing to work hard to make them a reality.
They are also able to stay motivated in the face of obstacles and setbacks.
4. Empathy
They have the ability to recognize and understand the emotions of others, and to respond appropriately to their needs and concerns. They understand and appreciate the emotions of others.
This allows them to connect with others on a deeper level and build stronger relationships.
5. Social Skills
Emotionally intelligent people have strong social skills. They can communicate effectively, build rapport with others, and work collaboratively.
How do you develop Emotional Intelligence?
Emotional intelligence is not something that you are born with, but rather a skill that can be developed over time.
This can be particularly helpful in the workplace, where relationships and business decisions often on interpersonal understanding, teamwork, and communication.
Here are some ways to improve your emotional intelligence:
1. Practice Self-Awareness
Pay attention to your thoughts and feelings. Take stock of emotional strengths and weaknesses. How well do you communicate with others?
Recognizing weaknesses allows you to look for ways to deal with them. When you are experiencing a strong emotion, take a moment to identify what you are feeling and why you are feeling that way.
This can help you better understand your own emotions and how they affect your behavior.
Remember that emotions are fleeting and temporary. Making reactive and rush decisions on intense emotions can be detrimental to your long-term goals and success.
2. Work on Self-Regulation
People who possess good self-regulation are able to adapt well to changing situations.
Practice managing your emotions in a healthy way.
Take deep breaths, meditate, or engage in physical activity when you are feeling stressed or overwhelmed. To improve your self-regulation skills in the workplace, find techniques to release workplace stress, think before making decisions and keep your cool.
This can help you remain calm and focused in difficult situations.
3. Increase Empathy
Emotionally intelligent people are good at stepping into another person’s shoes and understanding how they feel.
As you see things from the other person’s point of view, it’s important you pay attention to how you respond to those views.
Letting others know that their efforts have merit often helps everyone feel more willing to compromise.
This can help you build stronger relationships and communicate more effectively.
4. Build Social Skills
Employees and leaders with great social skills are able to build rapport with colleagues and communicate their ideas effectively.
Practice active listening and work on building rapport with others. This can help you build stronger relationships and work more collaboratively with others.
What is the Impact of Emotional Intelligence on Employee Satisfaction and Productivity?
Emotional intelligence has a significant impact on employee satisfaction and productivity.
Employees who have a high level of emotional intelligence are more satisfied with their jobs and more engaged in their work.
They are also more likely to be productive and achieve their goals. Research suggests that emotional intelligence has a significant impact on employee satisfaction and productivity.
Emotional intelligence is a crucial skill in the workplace. It can help improve communication, increase empathy and understanding, resolve conflicts, and improve leadership skills.
While some people may be naturally more emotionally intelligent than others, it is a skill that can be developed over time with practice and effort.
However, it is important to note that emotional intelligence alone does not guarantee success in the workplace.
There are instances where highly emotionally intelligent individuals may struggle in high-pressure situations or may not possess the technical skills necessary for their job.
Companies are paying attention to the fall in job satisfaction and the rise in the focus on emotional well-being, with a deliberate focus on younger workers.
Kenya is suffering a season of infected political discourse. A time when some political leaders are competitively differentiating themselves from the rest by hurling insults at each other.
Such political blind spots should never be given space by the electorate. When one hears such political utterances, the first casualty is often the truth.
The boorish acts we see around us justify the failed level of trust. It means politicians have sunk so low that they cannot fulfill their purpose and promises.
1. Starting point for a political promise
MPs should not remain mere lawmakers, but create more value for the electorate. That is the basic starting point for a political promise.
The time has come for political leaders to self-reflect and take inventory of their brands. While politics plays a top position in governance, it should not be considered as just icing on the cake, but everything on the cake.
Abuses, insults, and endless rhetoric will blindly push Kenya into the abyss. Such ugly images live in the minds of voters, in contrast with what they have been promised. This disgusting experience might also drive the bad behavior of other people.
Politicians have sunk so low they cannot fulfill their purpose and promises. They are no longer at the apex.
Politicians have always taken advantage of social epidemics. This situation is where their behaviors and ideas diffuse through a population. As usual, bad behaviors and utterances spread like a virus.
They have mastered the art of violating public expectations by breaking a pattern. For that reason, their surprises get national attention.
2. The monkey see monkey do tendency
One major way social influence affects us is through conformity. Some young leaders are already imitating the impunity shown by their seniors. The monkey see monkey do tendency.
These leaders must understand that political brands are built on foundations of respect, purpose, promise, accountability, and our national history.
Joe McGinniss summed up in his seminal 1969 book, The Selling of the President 1969, in which he said politics has always been a con game. He meant that a lot of political actions are never decided by logic and facts. Beware of how your appearance, actions, and words reflect on your brand.
Comb through your touchpoints to see if anything is off-values. A political office must be a brand that connects with the constituents. Even a small misstep can be blown into a huge mistake that distorts your brand.
In any services business, the true value is created in the interface between the consumer and the employee. In this case, the consumer is Wanjiku, and the employer to the elected leaders.
3. A politician who respects voters must be in the ‘value zone’
I would want to witness a fierce political competition where values created go to voters. Where opposition not only makes noise in the public eye but also holds the government accountable in all aspects.
A politician who respects Kenyans must be in the ‘value zone’, where development takes place and bills are sponsored. They must show empathy and pass values onto the electorate as enshrined in our national laws.
Leaders should be reminded of the Sustainable Development Goals, the universal call to action to end poverty, protect the planet and ensure all people achieve a better and more sustainable future by 2030.
Leaders must understand political brands are built on foundations of respect, purpose, promise, accountability, and our national history.
They should also be reminded of the institutional voids in our health sector and education system. These are the kinds of conversations Kenyans want to have.
Bad political behavior is harmful and costly for stakeholders, markets, society, and the economy. Change comes with public accountability which includes imparting values to the electorate.
4. Voters need to prioritize themselves as the employers of politicians
The era of elected leaders being at the apex is long gone. They must be accountable to the public. They must stop taking the electorate for mere voters, but view them as consumers and potential rivals.
Voters have become rational. They now need to start prioritizing themselves as the employers and elected leaders come second as employees. Good values and public accountability should be a threshold for reelection.
In 2000, Al Gore was a conflicted man. He had built up a solid reputation for eight years as a competent vice president.
He lost the presidency but later on, found his branding mojo. He became the subject of an Oscar-winning film, An Inconvenient Truth, and the Nobel Peace Prize recipient.
5. Push the envelope of transparency
A specific trust-building action is pushing the envelope of transparency. Most voters know what ails their leaders, sometimes even before they do or admit it.
It is time we became obsessed with constant change for better leadership with values. Even in a typical marketing strategy, it is important to consider the business’s position in the market.
Female-run entrepreneurships are steadily growing all over the world. Such businesses significantly contribute to household incomes and the growth of national economies.
According to a report published by legal jobs, 36% of businesses worldwide are owned by women. This figure translates to 114% increase in the past 20 years.
California in the US, for example, has the highest number of women-owned companies at 1.3 million. Texas has more than 860,000 women-owned firms.
Why should we care about women entrepreneurship? Globally, women’s businesses generate around 1.9 trillion dollars in revenue. The rate of growth by women’s businesses is 5% annually.
However, these figures do not tell the whole story, only part of it.
Businesses owned by women remain in the minority and the challenges that women who have adopted the entrepreneurial journey face are extensive and frequently very distinct from those faced by their male counterparts.
Worldwide, women still face social norms, time, human, and gender inequality constraints that limit their ability to grow to own their own businesses or even have careers.
Some of these challenges women entrepreneurs face include the following;
Female managers consulting in the office
1. Countering the socially acceptable norms
The corporate world is mainly dominated by men. Most corporate and business heads are men.
In most cases, when attending a corporate event or an executive conference, you can count the number of female heads by hand.
For that reason, gender balance in company leadership, decision-making, and governance processes is an important step towards driving gender equality and empowering women.
Such an initiative will boost corporate performance. The socially acceptable and normalized setup favors and caters to men.
Therefore, when women get these positions, they might feel the need to match up to the ‘male expectation’.
To do things as the men do because that is what is already in place without any other oppositions.
Women often feel compelled to embrace a stereotypically “male” business outlook: competitiveness, aggressiveness, and also sometimes harsh.
Successful women CEOs, on the other hand, genuinely think that staying true to yourself while discovering your own voice are the prerequisites to rising above preconceived ideas.
Being yourself and having confidence in oneself is key as a woman in the corporate world. Putting in the work and perseverance is also important.
It is unfortunate that a woman has to work twice as hard to prove herself. Having a voice, however, and creating a unique space for oneself helps.
To help with this issue, women need to give more opportunities for successful female business owners to shine.
They have to challenge the acceptable social norms by supporting and celebrating the invaluable contribution of women business leaders and entrepreneurs towards economic growth and development.
Supporting and uplifting each other as women is important.
This narration also serves as motivation and creates opportunities for other women to interact and mentor one another.
2. Securing the funding
Most startups have to look for investors to secure funding for their businesses or companies.
For women, the pitching process is quite difficult on its own with much pressure to match up to men due to social constructs that men are better business people than women.
Women who venture into entrepreneurship are not poised to get a fair deal.
It is arguable that bias within the venture capitalists’ industry is preventing funds from being allocated to the best investment opportunities
Investors tend to invest in startups that are run by people they consider of their own tribe.
For example, if an investor is from the same place as a person pitching a business idea, they are more likely to invest in that business.
This means that venture capitalists headed by women are amongst the top VCs that invest in startups led by women.
This is through a great team and an outstanding business plan as compared to men who mostly just require a great business plan or idea and a good pitch.
Women have to prove themselves further. Capital raising for women-owned businesses becomes even more difficult.
According to a recent study, women are more cautious and do not overestimate their forecasts. “When they pitch to investors, they frequently use realistic figures.
However, because men frequently overstate and exaggerate, investors frequently dismiss the numbers right away. Women sometimes miss out on funding because investors also assume that women exaggerate just as men do.
As a result, they will provide the funding at a much-reduced level than was requested. Women must recognize this interplay and approach their pitches appropriately.
Although policies and laws have been enacted to create a more business-friendly environment for all, actual changes are still yet to be implemented.
Gender lens investing, which refers to strategies that address gender dis-proportionality issues and/or evaluate gender inequalities to inform investment choices, is gaining popularity.
Women are equally encouraged to utilize personal and professional connections to find support from both other women-led venture capitalists and men too.
All these both in the form of sound consultants and other female leaders. Whether those women have started their own businesses or are leaders in other companies.
3. Gender inequality
Most of the time, women can find themselves in male-dominated industries or spaces where they are not as respected as men are.
These spaces more often than not frown upon leadership in women to due many reasons including sexist ones.
“Earning respect is hard enough as a female entrepreneur,” a female leader said. Women have to reinvent themselves, with no room for mistakes if they want to prove themselves.
Importantly, gender inequality does not only manifest at places of work, but even in education, and economic growth areas.
On average, across the 2,000 companies, just 21% of directors and 15% of executives are female. Men primarily dominate the top positions giving women positions like HR and other ‘behind the scenes’ departments.
Women face a variety of challenges, including fewer established market networks and social and traditional barriers that limit women’s participation in business.
Religion makes it difficult for women to start businesses in some cases.
In some countries, women may be required to have a male partner who will do trade agreements, begin negotiations, and represent the company.
Regardless of these obstacles, the business world is gradually recognizing and appreciating women’s strengths and efforts. The world hopes to see more of it in the future.
Due to the notion that women are supposed to take care of the household and tend to home affairs, they face pressure from both their work areas and their home.
Women feel they need to succeed in both their jobs and also managing their household activities.
Men aren’t often required to tend to the affairs of a home as women are and this puts some sort of burden on them.
Despite the difficulties that many women encounter in the entrepreneurial world, they are nevertheless responsible for the majority of household managerial activities.
Providing true work life balance is difficult, especially for women who believe they must be perfect at both work and at home.
The family expects her to be a good and present working mother.
She is equally expected to be a wife, while the job also requires her to be present and show leadership and commitment.
No woman should feel obligated to do it all when it comes to work-life balance.
Create reasonable expectations and accept that no one person can “do it all.” Men should also step up and help women even in-home tasks to maintain a fair workload.
If men and women are to compete in the workplace, they at least need equal opportunities and treatment.
5. Lack of Female Role Models/Mentors
The disproportionate number of men in businesses and corporations as compared to women means more men occupy top organization/company seats as compared to women.
It makes women lack proper role models who have headed enterprises, and who might act as mentors.
A strong support system is also critical for successful entrepreneurship.
It is no surprise as according to numerous studies, about 48 percent of female pioneers report that somehow a shortage of suitable mentors and role models confines their professional growth.
What would women accomplish if they had an ideal support system? The absence of a suitable support system may be the cause of a company’s struggle or failure.
Nobody is an island in business. Women face the most difficulties in obtaining assistance, whether it is due to a lack of meaningful connections or a need for emotional or financial support.
They also require role models and sponsors to help them navigate new paths.
The support network is frequently cost-prohibitive, forcing women to postpone starting their own businesses.
The majority of this industry is dominated by men. It, therefore, becomes a daunting task to forge own path and enable introductions and contacts into some of the more elite corporate networks.
“Because most of the business these days still adheres to the adage about ‘who knows who,’ instead of what you know in the business world.
Enabling a woman with experience and understanding is only the first step on a long road to success in business and these support groups can offer some of these.
Life is a continuous learning process in which new information is presented every day.
Unfortunately, women’s access to this knowledge and information that is emerging is limited due to a lack of appropriate channels to start educating and mentoring newcomers.
Even though it could also be due to the competitive marketplace, women go above and beyond to find relevant and practical information.
Women who have succeeded in the corporate world advised on not being afraid to seek help anywhere when they might feel stuck.
Seeking help allows one to learn from what others do and try implementing what they have learned.
Seeking help also lets one know they are not alone in the journey of learning and discovery.
6. Fear of failure due to already preconceived notions
Running an enterprise is no easy task. It is full of risks, unplanned and unforeseen circumstances, and a lot of uncertainty sometimes.
Failure and making errors are inevitable. It’s part of the job.
However, women in business cannot afford to make these mistakes because it was hard for them to get these opportunities in the first place and failure will seem like they are not living up to the expectation.
None goes into business expecting to be successful. Fear of the known and unknown is a significant issue for women.
They are afraid of failing, especially when the people around them are highly skeptical of their business abilities.
Because women may now end up functioning from a place of fear rather than self-belief and confidence, this fear is toxic and dangerous and may even cause them to blunder and make mistakes in a bid to save face.
As a result, sometimes when they are destined to prosper, they will fail in business.
Women who try very hard and find success are often hesitant to tell the world about their achievements.
They are afraid of being labeled as arrogant, boastful or views as if they are bragging. Humility is not the same as shyness or timidity.
Women must be proud of their accomplishments and allow others to do the same
Taking ownership of your success as a woman inspires you to work harder in order to achieve more in your business. It motivates those around you.
Many top female executives, such as Sheryl Sandberg, have motivated and even influenced women to enter board rooms.
Oprah Winfrey and Michelle Obama are two women who have inspired other women to pursue their entrepreneurial dreams on numerous occasions.
Confidence is a necessary component of prosperity and growth. Women must believe in themselves and take responsibility for their own success.
Without a doubt, women have been making tremendous efforts to be visible in the entrepreneurial world.
Their influence is impressive, and it is likely to grow further.
Women have demonstrated that they’ve had a higher rate of company success, and they tend to take fewer risks as compared to men.
Studies show that companies owned and led by women have proven to be a secure option for investors.
However, they continue to struggle to obtain the funds they require, according to statistical data from women entrepreneurs.
The above shortfalls are likely to change in the coming years as women’s presence in business becomes the norm. The world needs to do better for women.
So much potential is being overlooked due to outdated social constructs that men are better than women and that they can do more than women can.
Women can do well just as men can and these stereotypes have no place in the modern corporate and entrepreneurial world.
How do you feel making a first call to a total stranger?
In the world of sales and marketing, cold calling has long been a contentious issue. Although some companies vouch for it, others view it as an outdated and ineffective strategy. But it can be a challenge to deliver a pitch to someone who has never heard about you or what you are offering.
Cold calling can be an effective tool to increase revenue and generate leads when done correctly. Our team of professionals has spent years perfecting the art of cold calling and has used this strategy to help countless businesses succeed.
This article is going to be your recipe for success because cold calls turn even the most competent souls into neurotic messes.
Read on to learn the techniques for effective cold calling, whether you’re a seasoned salesperson or a company owner looking to increase lead generation.
You could be a salesperson, startup, or entrepreneur trying to expand sales lead. For that reason, I have gathered four research-backed rules to help you every step of the way to keep cold calls warm.
Cold calling is a marketing tactic in which a sales agent contacts leads who haven’t yet previously indicated interest in their product or service for the first time. If you feel overwhelmed by cold calls, you’re not alone.
A good cold call is made to someone who is likely to be interested in or profit from the good or service, even if the lead is unaware of the salesman’s brand.
In his book, Never Eat Alone, author Keith Ferrazzi lays out specific steps—and inner mindset—he uses to reach out to connect with the thousands of colleagues, friends, and potential sales leads.
The writer warns that you, yes you, should never make cold calls. He says such calls are for suckers!
He simply means every salesperson should make strategies that ensure that every call they make is a warm one.
How could you then warm a cold call? First of all, it’s all about attitude. Your attitude drives your fears. You’re never going to be completely ready to meet new people; there is no perfect moment.
Your fears will never be completely quieted because inviting rejection is never going to be appealing. There are always a hundred reasons to procrastinate.
The trick is, change your perspective on getting to know new people as a challenge and opportunity. Just plunge right in and cultivate trust. Envision yourself winning to win. Be the ball.
Below are the tips to help you make a good cold call warm;
1. Make a reference list
Having a shared friend or acquaintance will help you stand out for trustworthiness when making a call.
This quickly builds trust with the other person because they don’t know: who you are, your company and what it stands for, your customers, products, and reputation.
Try referencing a mutual connection between you and the prospect. Credibility is the first thing you want to create in any interaction.
No one will buy from you unless you establish trust.
Prior research to call is essential. Without this, you appear selfish of showing zero investment in the person on the other end of the phone.
Drafting off the brands of others. Whether personal references or organization is a helpful tactic to get someone’s attention.
When you mention someone both of you have in common, all of a sudden the person you are calling has an obligation not only to you but also to the other friend or associate you have just mentioned.
For example, try saying:
“My name is …, I come highly recommended by … (mention the reference)”
Make certain that you only bring companies and contacts to your prospect lineup that you believe you can assist.
Today, in the year 2021, finding someone’s contact is easier than before. Search engines like google are all available. Check their LinkedIn, company site, your CRM (for possible past engagement), socials, among others.
Professional networks like LinkedIn help in finding people you should make connections with. You are a click of the mouse away from making that contact.
Importantly, as you make references, use trigger events to get your foot in the door. If you contact someone right after they close a contract with your competitor, chances are they won’t bite.
You can pick up on these opportune moments — known as trigger events — by keeping tabs on publicly available information that surfaces every day across a variety of online channels.
Other main trigger areas could include: new executive hires, winning large contracts/large customer announcements, company expansions, funding, mergers & acquisitions, among others.
These references reassure people that you’re on their side, relate, and are aligned to their industries.
Having a network of salespeople where you can refer to each other is equally important. As you grow in sales, expand your networks and sustain good business relationships.
What this means is that the most effective strategy to close prospects is to keep growing your networks and nurturing those relationships.
Never Eat Alone emphasizes the necessity of developing a big network, as well as strategies for doing so and maintaining those relationships.
A happy woman talking on a smartphone. Photo/pexel
2. State your value
Having reference is just a stepping stone to getting someone off their reluctance. Now, it’s your opportunity to deliver a high-value proposition within thirty seconds of the attention given.
To communicate the need your product fills, and its differentiating factors, you need to create an effective value proposition.
Your business’s value proposition is arguably the most important element of your overall marketing messaging. It explains how your product addresses their needs.
A value proposition (VP) is a simple statement that summarizes why a customer would choose your product or service.
Capturing the interests of customers and getting them to find out more about what you’re offering is a result of a successful value proposition. Here’s where you start to bring it all home.
Having a value proposition is important because it clearly and concisely communicates what customers can gain from selecting your brand over that of your competitors.
You’ve established who you’re selling to. You’ve established why you’re selling to them. Now, you have to establish why they’d buy from you. What can you do better than your competition?
This statement can be used in several ways, including:
– When pitching your company to investors or potential leads.
– On your company’s website to help convert potential leads into customers.
– As an answer to the question, “So, what exactly does your company do?”
You don’t need immense marketing to put what makes your business the best front-and-center in your messaging.
After all, you’ve got very little time to articulate why that person should not try to get off the phone as quickly as possible.
State how you are going to be helpful to them and why they should give you their time. That is absolute selling. Selling is, reduced to its essence, solving another person’s problems.
And you can only do that when you know what those problems are.
It is important to do some research beforehand about the company and the industry they are selling in. As emphasized while making a reference list, researching your prospect should be a pre-call ritual at any level.
Try to seek ways in which your pitch can help them. Remember, it’s all about them. What you can do for them.
The VP being a consumer-centric promise should offer the three things below:
Relevancy. Explains how your product solves customers’ problems or improves their situation.
Quantified value. Explains how your product/service will deliver specific benefits.
Differentiation. Compels the ideal customer to buy from you and not from the competition.
3. Talk little, say a lot, make it quick, convenient, and definitive
You have already enticed the person with your value proposition, and now they have your attention. They have even started having a conversation with you. Bingo!
But even as the conversation flows, remember the rule here: make it quick and precise. It’s a dialogue, not a scripted boring monologue that would turn off someone.
While it is important to have a script, make sure you talk like an actual person, not just someone reading lines. Hold a conversation with your prospect.
You’ll be flexible to cope with the conversation better if you know how to explain who you are and why someone should care if you understand how to explain who you are and why somebody would care.
Then, create a list of open-ended questions to help you start your conversations. When you ask these questions, you must be prepared to listen rather than simply waiting for your turn to speak again.
The reason for a cold call is to get an appointment to explain further your value proposition. These prospects are people who weren’t expecting the call and were probably doing other things when you ‘interrupted’ them.
Try to be quick, stating what exactly it is you aim to do for them in a few words but with great meaning and promise.
Your diction and business phrases remain a deal-breaker too. Try to use the words “Talking with” when you get someone on the line.
These two words imply that you and your prospect are going to be engaging in conversation.
In contrast, “speaking to” describes a one-way action. It suggests that you are going to broadcast your message — whether they want to listen or not.
Try and understand your prospect’s requirements and needs so you can address them accordingly.
You may develop opening value statements that set you apart from the competition while quickly heating up your cold calls by analyzing your top client’s specific requirements.
Instead of making cliché statements like we should hook up sometimes when you get a space, impart a sense of urgency and convenience instead.
Finalize with a definitive statement like:
“I will be in town next week. How about lunch on Tuesday? I know this is going to be beneficial for both of us, so I’ll make time no matter what”.
Important to remember that many marketers use the Sales Pitch Framework for building their elevator pitches. They also use success stories in their pitches to ensure the sale. Name-dropping really works, so be sure to use that to your advantage.
4. Offer a compromise
As mentioned above, the goal of a cold call isn’t to pitch to someone on the spot. You’re just trying to get them to commit to a meeting at a later date.
Don’t expect to sell within the first pitch/call. If the prospect is not interested in your pitch, try finding a compromise.
For example:
“I understand you are not interested in this particular item but could I maybe interest you in a similar…”.
Also, be willing to learn as you push for the prospect to accept your pitch. With an example below, you could try saying:
“I admire your forthrightness. The most difficult aspect of my job is not knowing whether or not we can assist someone. Do you mind telling me why you don’t think we can support you, for my own education?”
Frequently, people won’t get back to you as expected. Setting up such meetings sometimes takes time. You, therefore, have to be aggressive.
You have to put your ego aside and persist in calling or writing. And when you finally meet, do not sabotage your effort to show anger that they never got back to you as could have expected. Nor should you apologize for your persistence.
Find a Calling Schedule that Works. If you call prospects with no particular schedule from 9 am-5 pm each day, you’re missing an opportunity.
Someone who is busy is likely to pick calls at unusual hours, say at 8 am, or at 6.30 pm when they are less engaged at work.
When you call someone who can benefit from your offer, you are assisting them in bettering their lives and businesses. Don’t waste your valuable time looking to reach people who don’t need what you’re selling.
Also, it is important to remind target prospects about the pitch. Next, provide concise responses to common objections.
You won’t be able to do these on the fly when you’re first learning to cold call, so write them down word for word.
In sum, as discussed above, apply the rule of warm calling within your 15 seconds of fame. Convey credibility by mentioning a familiar person or institution.
State your value proposition- how the person on the other end or his company would benefit from your proposal.
Impart a sense of urgency and convenience by being prepared to do whatever it takes whenever it takes to meet the other person on their terms.
Be prepared to offer a compromise that secures a definite follow-up at a minimum.
Do not trust your manager. Don’t get too emotional about anything at the company. Remember, it’s not personal; it’s only business…
You must have heard such outdated thoughts. Leftovers from the early years of the industrial age, when business organizations felt they had to protect themselves through command-and-control methods.
In the present day, however, businesses are undergoing trust transformations where culture matters, employees matter, customers matter, and it all starts at the top.
American motivational speaker Zig Ziglar once said: “If people like you they’ll listen to you, but if they trust you they’ll do business with you. Before customers make a purchase from you, they need to be able to trust you.
The question isn’t: Should they trust you? It’s: How do you build trust so your relationship, and hopefully company, can grow and thrive? Before you can build trust, you have to understand what it means to you, your employees, partners, and consumers.
Trust is the social glue that holds business relationships together by keeping a visionary company the ‘crown jewel’ in their industries.
The dynamics of building a relationship is necessarily incremental. You can only truly gain someone’s trust and commitment little by little over time.
It is the expectation and faith that two parties-for this case your company and its consumers will act to secure mutual benefits.
But how do you build trust so your relationship, and hopefully company, can grow and thrive? Essentially, knowing how to build trust with customers is critical in today’s business climate.
Extremely important is trust, and quite personal between you and your customers. It also takes a long time to build, and can be easily damaged.
A manager or an executive may take years to develop the trust of his or her employees and that of consumers, but only moments to lose it. For that reason, businesses develop trust by standing behind their promises. Lack of it becomes the biggest expense.
Business magnate Warren Buffett once said that it takes 20 years to build a reputation and five minutes to ruin it.
Consider how Facebook’s untouchable aura evaporated overnight following reports of their association with the British political consultants, Cambridge Analytica?
In essence, no corporation is immune to scandal and the resulting impact on customers’ trust.
Relationships are solidified by a trust. Institutions are built on it. You gain trust by asking not what people can do for you, but what you can do for others.
In other words, a solid relationship is essentially important in customer value proposition (CVP)– the sum total of benefits that a seller promises a customer will receive in return for the payment or other value transfer.
The trust process requires the willingness to increase the resources invested in another party. It’s based on positive expectations resulting from past positive mutual interactions.
Everything in the universe only exists because it is in relationship to everything else. Learn about the incredible power of relationships.
Consequently, it’s easy to look at any company, especially one doing well, and be able to describe who their customers are.
Repeated profitable sales are the lifeblood of such businesses. Without them, your business will die. A great example of this is the Hall of Famer, the late Katharine Graham who cultivated trust in everyone.
The tragic death of her husband transformed her from wife to publisher overnight. She took over the Washington Post in 1963 after the death of her husband, Philip Graham.
Her shy and quiet demeanor seemed unfit to deal with the demands of one of the most important newspapers in America.
Graham proved everyone wrong. She helped to build one of the great newspapers and most successful businesses. Her most lasting legacy was running the Post with compassion, kindness, and sincerity.
She became a powerful figure. The bottom line is: she made friends with everyone—not just those who could assist her newspaper or augment her position.
Presently, a company creates and delivers unique value for its customers and differentiates itself from its competitors through a combination of engaged employees and accountable management.
Such are outcomes of developed trust.
A brand, therefore, is what a business is all about in the hearts and minds of the people. Most importantly, to its future. That is based on consumer trust and loyalty.
The fate of your business lies not just in having the best product or service but in a company’s ability to market products or services by establishing proper relationships to interact with the customers through their ‘journey’.
That is why, if you have the ability to grow your revenue profitably, there’s almost no business problem you can’t solve. But it depends on how to position your business, dominate your market, and stay first in the minds of consumers.
As a matter of fact, it is widely evident that without a brand ideal, no business can truly excel. It’s on the reason that sales revenue is the best way to judge your marketing’s success.
Have you ever thought about why consumers buy from you rather than another company? It’s because of your (company’s) brand image, reputation, and the relationships you have with them.
Such, well maintained, doesn’t leak money but elevates companies with ideals of improving people’s lives. At the center of all, to outperform the market by a huge margin.
To transform a company, people must align themselves and work together toward one goal. But it will not happen without a culture of trust.
Below are the 6 ways a company can build trust with its consumers:
Design strategies to increase confidence in your e-commerce. With that, your customers will feel perfectly safe using their credit cards on the Internet to shop with you.
For a physical store, include it on Google map with its location. Consumers feel more secure in knowing you’re not only on the Internet.
Beef up your security with basic SSL protection; make sure the transaction is made with HTTPS. Otherwise, not only are you endangering your customer data but you are also breaking the law.
Importantly, offer several payment methods.
Although trust to pay with credit cards on the Internet has increased, there are still users who prefer to use PayPal or pay on delivery.
Include all the options that allow you to capture more customers.
Even if you aren’t selling your products through an e-commerce platform, customers will still be visiting your website, and the amount of safety they feel while there can play a significant role in how much they trust your brand.
Use stamps of confidence. Such certificates make consumers trust your business at the time to give their data: for 37% of buyers, this is the most important factor.
2. Keep your Promises:
Strategically, it’s in your best interest to under-promise and over-deliver when it comes to all forms of customer expectations.
Don’t just assume trust exists. It makes sense that as social human beings, we want to keep promises we make to our partners.
But often the little things get overlooked.
Make keeping your promises about little things as important as keeping your promises about the big things.
Product advertisement creates consumer expectations. People deliver experience which creates repeat purchase.
Delivering promises is directly linked to customer acquisition cost helps in measuring your ability to generate new revenue from sales and marketing expenditures.
A business should maintain consumer satisfaction at a higher level. Satisfaction is the difference between expectation and experience.
Buzz words and unfulfilled brand promises have made consumers not trust brands nearly as much as they used to.
The reason being, customers feel they’ve been lied to, and taken for granted over time.
That is a broken trust already. Keep a promise and earn it!
A fulfilled promise boosts brand positioning – the strategic intent (aim) or design for a differentiated brand image within a specific target audience.
3. Publish Customer Reviews and Testimonials:
No matter how trustworthy your brand is, consumers will almost always trust other consumers more than companies. Stories drive people to action. Good stories carry ideas. A good story tells good customer service.
Why does word of mouth matter? Consumers know that no matter how unbiased you may try to be; you’re ultimately going to position your brand in a positive light.
Word of mouth generates more than twice the sales of advertising. It creates trust.
Leverage your audience’s trust of other customers to your advantage by publishing reviews and testimonials on your site.
So, how do you design customer reviews and testimonials? If you run an e-commerce store, for example, encourage your customers to leave reviews and add those reviews to product pages.
If you run a service-based business, on the other hand, ask your current and past clients if they’d be willing to share their experiences with your company.
Then, design a testimonials page based filled with their responses.
Regardless of the exact approach you take, word of mouth from other consumers will make prospective buyers more comfortable giving your business a chance — and will help them trust your brand right from the start.
Even though only 7% of word of mouth is online. Word of mouth creates trusts, converting the customers into advocates.
4. Communicate Openly and Frequently:
Could transparency really be the catalyst to drive trust? Be open and transparent about your goals and processes.
Don’t ever leave your customers in the dark. As a golden rule: the more you talk to your customers, the better.
Make it a rule that most communication, especially important subject matter, must happen. If something ever goes wrong, acknowledge the error proactively.
The true meaning of a message can get lost via text, email, and sometimes even on the phone. Make sure you are both heard and understood the same thing by talking face to face.
Transparency enhances brand equity – the commercial value a brand provides to a firm through its effects on the attitudes and behaviors of its stakeholders.
5. Go all-out for customer service:
The customer service your company provides can have a major bearing on customer trust and loyalty.
Trust becomes fragile when customers have an issue with something. If they experience a problem and receive prompt, helpful and memorable service experience, you will stick in their minds and hearts.
In essence, they’ll remember you as a reliable brand.
But if you drop the ball, you’ll lose a customer forever and likely experience a dip in your reputation. Whenever you can, go all-out in your customer service.
Don’t just turn to the most cost-efficient way to resolve a problem; make sure your customers feel heard and appreciated, and go out of your way to make them happy.
It’s, therefore, crucial to hire dedicated support staff who are trained to a high standard.
The aim here is to provide an efficient, professional, and personable experience for your customers.
6. Always be available:
Be contactable in any possible way. Customers feel comforted knowing they can talk with someone at any time they choose.
A brand ideal is a business’s essential reason for being, the higher-order benefit it brings to the world.
Without a brand ideal, no business can truly excel. A brand defines who you are and what you stand for as a business to everyone the business touches, from employees to end consumers.
Along those same lines, it’s vital that your brand always be available, in some way, for the consumers who need it.
A business’ contact page is the touchpoint of interaction with their customers. For that very reason, it’s guaranteed to be one of the most visited pages on any website.
On landing pages, including a phone number or an instant chat box can instantly increase your conversion rate.
It’s a great idea to provide as many avenues for connection as possible: phone numbers, your email address, social media handles and live chat functionality.
Apr 20, 2021 | Updated May 03, 2023
By@JoshuaNgala
If your manager keeps wasting your precious time, assigning you to make endless presentations on irrelevant things, and even write reports about what they had not done, then you are part of a stale toxic culture.
The willingness of staff to observe the organization’s policies and procedures begins with good leadership, which puts the value zone at the center of the organization.
That’s why successful companies invest in their teams with cohesive values that lead to greater business efficiency-driven to achieve a common goal.
However, the business world is largely focused on the what of the strategy—new products, new propositions, new markets—and pays far less attention to how a business runs its teams and employees.
Much attention is put on customers and products at the expense of employees. Such internal disparities can hinder employee productivity and morale.
To transform a company, people must therefore align themselves and work together toward one goal.
Sharing the same vision, change initiative reduces the normal tensions between areas among others, sales and logistics, marketing and finance, and human resource and finance.
So, where does transformation begin from toxic to cohesive culture? Start looking in the mirror. Focus on things you don’t like about what you see. Also, create a picture of what could be, if you were to change.
As a corporate manager, it is important to clearly understand this concept and how you can turn one of the most toxic cultural elements in your organization into a powerful source of growth and creativity. Below are the five tips to promote cohesive culture:
1. Incite everyone to think like the owner
The biggest problem with the old-age organization structure is it doesn’t support the people in the value zone-the place where value is truly created for customers.
This stifles employees not trusting managers, as they are not empowered to be decision-makers.
To cultivate a problem-solving culture, businesses invest in employees to think like entrepreneurs. When they do so, their energy and creativity are released.
Culture matters, employees matter, customers matter, and it starts at the top.
Imagine what your organization could collaboratively accomplish if every employeewas self-motivated and focused all their energy on making your business successful, To achieve the transition at this level, shift focus to the value zone. If possible, turn the organization upside down.
Make management and managers, including those in enabling functions accountable to those who create value, not just the other way around.
This approach helps managers to delegate decisions and action plans, choose transparency on transactions and compensation decisions, be intentional with every conversation, and encourage employee feedback.
2. Design the right collaborative incentive schemes
Dangle a carrot in front of a horse and he’ll pull the cart faster. If an institution wants to change and sustain employee behavior, it requires an incentive plan.
An incentive is most frequently built on monetary rewards. For that reason, a company should design the best incentive scheme that fits all employees.
Rewards can be financial, non-financial, prizes, experiential or focused on public recognition, or whatever best reflects your company culture and motivates teamwork. The recognitions, bonuses, and gifts result in increased productivity.
A joint research on incentive schemes by the International Society for Performance Improvement and The Incentive Research Foundation found that “Incentivized teams increased their performance by 45 percent; incentivized individuals increased performance an average of 27 percent.”
It means successful organizations are highly innovative, and innovation requires teamwork for the development of new ideas. Such an approach makes organizations increasingly reside in the talent and creativity of their employees.
Although team incentives can lead to heightened performance, the HR department needs to make sure they’re properly implemented to avoid red flags such as talent management issues and competition among teams.
3. Keep politics on hold
Even though office politics are a fact of life everywhere, politics affect an organization when the founders, investors, and employees don’t agree on a company vision.
It divides colleagues, supervisors, and subordinates, which results in a tense and disruptive work environment. Power games of playing dirty at the expense of someone else is harmful.
For example, watching a colleague make a mistake on a project and then turning around to report them to your boss and offering to correct is toxic.
The success of your business, therefore, relies heavily on the efforts of your employees. Some employees may also feel they aren’t getting enough credit, compensation, or options for their great work especially when power games are involved.
As Alfred Rappaort said, managers, like other people, act in their self-interest.
It is possible to promote yourself and your cause without compromising your values or those of your organization. Keep and maintain employee satisfaction throughout the company.
3 Groups of employees at the workplace. photo/ file
4. Invite open conversations
Most employees would wish not to offend their bosses for fear of getting in trouble for speaking up. This culture lies in how leaders manage communication within their organizations.
Break down the institutional silos and boost cross-functional collaborations. This makes leadership become a conversation that enhances collaborative information sharing.
Traditional corporate communication must also give way to a process that is more dynamic and more sophisticated. This approach makes these conversations less difficult so you and your team can come to effective solutions together.
To heal divides and fix systemic issues in organizations, leaders should focus on starting honest conversations. Such communication should be focused on individuals with feedback metrics.
5. Celebrate both autonomy and relationships
Team cohesion impacts nearly every facet of your business. But particularly, it’s crucial for efficiency.
For that reason, autonomy remains one of the essential elements in building true employee engagement. It helps companies support a growth mindset, professional development and give employees the tools they need.
Further, businesses have resorted to a high level of autonomy resulting in a work- culture where owners and managers trust their teams to do their best.
When your entire organization is working toward shared goals, it’s appropriate to enjoy the accomplishment as a team creating value for customers. Rejoicing success is essential for maintaining the bond of a cohesive team.
Also, encouraging relationships in a company creates trust. Trust has four dimensions in organizational growth: credibility, reliability, intimacy, and self-orientation.
Every company can benefit from building nimble teams that can respond rapidly and effectively to business opportunities
There are different ways to create an agile workforce in an environment that ensures tensions do not drive anguish, resentment, or division, but effective productive discussions, success, and continuous learning.
Bonus Tip: It is not only employees who must trigger the change, and not only them who are good at blaming external factors for their lack of performance. Some old-fashioned leaders support the status quo, avoiding any change by making all kinds of excuses for themselves.
Don’t focus on the past. Neither should you ride on your past achievements. Focus on your employees and how to create value.
Customer experience is the number one brand differentiator. Specifically, it is the holistic perception of customers and their interactions with an organization and its products and services throughout their relationship, becoming happy and loyal.
The experience impacts all areas of business; feelings and emotions, and encompasses the entire customer journey.
Collaboration remains a top priority for businesses as the companies that focus on customer experience reduce churn and scale up their revenues.
Organizations have realized that an outstanding customer experience keeps customers coming back while spreading the word about their experience.
To rapidly address customer problems and drive innovation, the need of engaging an organization’s front-line employees to deliver on the customer strategy remains crucial.
For that reason, companies develop sets of principles for moving well beyond the basics of customer service by putting power, resources, and trust in the hands of value-zone employees.
You must have heard of some of the most common causes for bad customer experiences involving: difficult purchasing processes, negative experiences with customer support, compromising a customer’s security, waiting too long on hold, and Ignoring customer feedback.
Such mishaps violate consumer expectations. Consequently, customer care transformation is important as it compels companies to change their business models and adapt to the new market reality.
In the process, they establish critical enablers to drive transformational change via mindsets, behaviors and capabilities, technology enablement, operating model, and performance management.
Research by American Express found that 86% of customers are willing to pay more for a better experience. Such an empirical result means that any business model must therefore be customer-centric.
Here is a five-step process for moving beyond a suggestion-box mentality, to a strategy that will help you improve customer satisfaction and increase revenues:
Step 1: Create a clear customer experience vision
The first phase is top-management buy-in on a customer-centric strategy to ensure a shared vision. At this stage, you are connecting the front-line employees to the customer strategy.
The easiest way to define this vision is to create a set of guiding principles.
The set of rules drives the behavior of your organization embedded into all areas of training and development.
Such a top management approach can help in the re-alignment of corporate culture, training, work processes, and reward systems.
Importantly, the core customer journeys must be identified and transformed by redesigning and digitizing them.
Step 2: Understand your customers and create an emotional connection
A business needs to focus on its customers. One way to do this is to segment your customers and create personas to understand them better.
Get to know details of the needs, wants, and fearsof the customers. This helps your organization to connect and empathize with the situations that your customers face.
Customers are 3 times more likely to purchase and recommend your product or service if they have an emotional connection with your brand.
Emotionally engaged customers have a higher lifetime value, as they tend to be loyal, satisfied, and ready to make new purchases.
A happy customer with her shopping bags. Photo/Pexels
Step 3: Empower your workforce, and invest in your frontline
How can you tell if you are delivering an excellent customer experience?
Getting customer feedback helps you know what customers think about the quality of your service compared to the customer experience principles you have defined.
Therefore, the use of a quality framework for the development of your team at every level makes them understand the customer strategy.
They also need simple problem-solving frameworks that are used throughout the organization to promote cross-hierarchical dialogue.
The quality framework takes this assessment one step further by scheduling and tracking your team’s development through coaching, eLearning, and group training.
The front office serves as the face of an employer. Often, it is the first and sometimes only people who the clients meet. This is not so different from other employees.
Too many companies are content to hire front-line staff without carefully considering whether they possess the right attitude and values to represent their brand.
The elephant in the room is what should be done to cure an institutional customer experience gap. The answer is: invest in them.
Step 4: Grant employees the opportunity to experiment
Most employees at the value zone know what ails a company. Sometimes even before management does or, at least, before management is willing to admit it.
They not only see service breakdowns but also opportunities for serving customers in entirely innovative ways. For that reason, an organization needs to act upon continuous employee feedback.
This can be done using tools that allow staff to share ideas on how to improve the customer experience and for managers to see how the staff is feeling towards the business.
The use of project management software or social media tools can leave continuous feedback.
Also, teaching front-line leaders the basics for designing simple experiments enables organizations to test many more ideas than could ever be orchestrated centrally.
For example, Amazon, where CEO Jeff Bezos often insists on leaving an empty chair at meetings to represent the “customer’s voice,” has a data-driven culture that actively encourages employees to build experiments based on customer insight.
Step 5: Eliminate the barriers, unnecessary bureaucracy
The biggest problem with the old-age organization structure is that it doesn’t support the people in the value zone-the place where value is truly created for customers.
When a leader holds too much power prevents the organization from becoming democratized, and the energy of the employees from being released.
People must align themselves and work together toward one goal. But it will not happen without a culture of trust.
Reduce the silos. Break down unnecessary bureaucracy, decision processes, or administrative work that impedes the front line to expeditiously serve customers.
Lack of trust among employees and management is a barrier to change of culture.
There are many ways to build trust, but one specific trust-building action is pushing the ‘envelope of transparency’.
Finally, the customer experience metric is one of the biggest challenges faced by organizations.
It helps them know if all this investment in teams, processes, and technology is working and paying off.
There are different software that can be used to measure the journey. Companies can connect with their customers in new and exciting ways, thanks to technology.
Your first step to undertake a business venture is to have a purpose. The higher-order benefit your venture brings to the world in improving people’s lives should be creating value to consumers.
For every entrepreneur and startup, consumer benefit is linked to profit margin. But how then do you decide the price of your product?
Pricing is a process with the ultimate goal of defining a strategy that will maximize your revenue. Therefore, important to make decisions that help in arriving at the right pricing strategy for your business.
But the fact remains many people automatically think cost-based pricing which sometimes known as cost-plus when they think of “pricing strategy.”
In this stratagem, the company calculates costs, and then adds a healthy 20% margin on top. It works well for a few months until some unexpected costs crop up. Then the margin is cut to 5% and then 0% with huge losses.
The biggest mistake many businesses make is to believe that price alone drives sales. Sales are driven by your brand ideal. Its directly linked to Value-based pricing (VBP) by setting prices according to the perceived value of a product.
Below are three key reasons to base your pricing on customer value:
1. Opportunity for a business to know its customers
VBP gives businesses a very good perspective of their customer base by focusing on their willingness to pay for a product.
By placing a premium on the opinions of your customers, you are focusing on the people who will be making the buying decisions.
Important to know, customers don’t care about cost, they care about the value they are paying for. The strategy helps customers identify key value items (KVIs) as they decide on whether or not, your pricing and packaging is correct.
At this level, businesses enhance their consumer experience to customers. As a result, they grow strong brand image, and loyal customer base with increased demand and profit.
2. Helps in attracting customers based on their subjective assessment
Unlike cost-based pricing which involves adding up all the costs involved in creating and delivering a product, value-based pricing considers consumer experience. With it, the company enhances understanding of the value consumers get from the product.
Ideally, a product or service should be a solution to consumers. Value-based pricing is more common for services and cost-based pricing is more common for physical products.
To attract customers, especially if you are in the service industry, your cost-based pricing should not exceed the value that customers would put on your service.
You look for pricing information from the people who are going to make a decision depending on your price, your customers.
Photo/ cardboard box with red ribbon beside a sale sign.
3. Helps business build the best product
Pricing isn’t just about the number of phone call enquiries, or the visitors on your website. Marketing experts advise that consumers purchase products or services hoping to get results from one of these 3 core desires: wealth, health or relationships.
Market desires can only be satisfied through consumer knowledge. The knowledge of consumers helps a business in designing product packages and features.
As you let consumers help you set prices, remember other important aspects of the market, such as competitor prices. Not considered accurately, can lead to a loss in profit margin despite an increase in sales.
As an entrepreneur, you should re-evaluate your pricing strategy every 6 months, and if there is room to raise prices you should.
One of the biggest attraction factors for the right clients for people like us, experts, coaches, trainers, consultants who can help transform somebody’s life, is a powerful brand.
In this article you’ll discover what doesn’t work to brand your work to be seen, valued and chosen by your best clients and what works.
WHAT IS A BRAND ANYWAY?
Most people associate a brand with names of companies, logos and colors and fonts. That is a small outward expression of a brand.
A great definition of a brand: “A brand is a desired perception”.
“A brand is a desired perception”.
In other words, a way people think about your company and the way they feel about you and your work. And it’s a brand created with this depth what attracts high-value clients.
WHAT DOESN’T WORK
Not having the right branding keeps experts, coaches, trainers, consultants and other service professionals from having the right clients, having visibility and not making the impact they want to make in the world.
Using Labels – For example, I’m a life coach, I’m a business consultant, I’m a certified Reiki Master.
Branding A Modality – For example, Coaching LA, Reiki NY, NLP London, etc.
One of the biggest problems is that you don’t have the time to explain your modality. People are looking for solutions to a problem (and they are not looking to learn about a modality they may not know about).
Even if you had the time to explain your modality, people cannot comprehend how powerful it is and they doubt it will work for them.
By trying to brand with your modality, you are limiting yourself to people who know what your modality is and you are leaving out all the people who could benefit from it.
Most experts use this model mainly because it’s familiar. We hear doctors saying “I’m a doctor” or dentists saying “I’m a dentist”.
Some other modalities are not understood and well-known yet.
So you can focus your time on trying to sell people what they don’t understand or want or you can choose to do things differently: you can create a brand that works, get clients and let that do some of the selling for you.
WHAT WORKS FOR PEOPLE LIKE US
Let me show you the deepest core of a brand that you can create to bring you your ideal coaching, healing, or consulting clients more easily, a brand that will dramatically increase the perceived value of your work and bring in more highly qualified clients than you can imagine.
It’s about presenting yourself to the world in a consistent, valuable, compelling way.
A High-Value Brand – High-value clients are looking to solve high-value problems. So your brand needs to announce that you are here to make a real difference.
One formula that works for experts like us is…
An Outcome Brand – It’s based on the outcome you help your clients get.
It has 3 elements:
1) High-value – Value is the heart of this type of brand. (Many people talk about value so let’s define value first. Value is to get your clients closer to the results they want to achieve. Anything that gets them closer to getting what they want is value).
2) An Audience – This is a group of people who would greatly benefit from your work.
3) Communication of value – The value of your work needs to be communicated in the right way so that it is seen, valued and chosen by the people who are already there ready to hire someone.
Till next time… remember your awesomeness is portable. You can take it with you anywhere.
With love
Ana
The Author, Ana Rosenberg, is A 7-time best-selling author. Ana Rosenberg is an advocate for the success of modern professionals, experts and entrepreneurs who are changing the world with their good work. Ana specializes in advising service professionals, experts and entrepreneurs to help them build a profitable, sustainable business to be proud of by positioning themselves as Leading Authorities in their field of expertise. She is a host of Business Innovators Radio and a contributor to the Huffington Post, TED and Today Show. Some of her best work lives at her website http://AnaRosenberg.com
