Marketing is About Value Exchange

Let me tell you something about people. Every decision someone makes is based on value. Yes, each and every one.

Every. Single. One.

Every action we take is based on value. When someone buys something? It was worth more to them than the money they parted with to get it. When someone pays taxes, it’s because they value staying out of prison more than the money they parted with.

It works for non-monetary decisions, too. If you spend time with a family member or friend, it’s because you didn’t have something you wanted to do more.

“Oh, but Jeremy, I’d rather stay at home and eat chips instead.”

Then why didn’t you? Because part of the value includes how you would feel afterward. Maybe you’d feel guilt at not spending time with those people. Etc.

But people look at value differently now than they used to. The old days of marketing are over. People won’t spend money on your product or service hoping you’ll provide value – they won’t go into the negative on the value exchange. You need to give them value before they spend money, these days. You need to build up that capital and, if you do that, then they’ll buy.

Or, in rare cases, you can offer something so compelling and make them feel like they’re so likely to receive the value that they take the risk. But that’s rare.

So, how do you provide value and earn that capital that your customers are willing to use as justification for purchasing your product or service?

Via social media, commercials, content of all kinds.

And through that content, you entertain, educate, wax philosophical.

It really doesn’t matter what you do or how so long as the people you are trying to reach receive obvious value from it. Today, all businesses, in some way, need to add value to their customers’ lives.

If you focus on delivering value that they can’t find anywhere else, they’ll literally be indebted to you.

If you give them what they could get elsewhere, but just a bit better, they won’t focus on the whole value. They’re going to focus on the small difference – the opportunity cost – of what you provided versus the next competitor. It’s not enough.

You need to provide value that is both GREAT and RARE. Scarcity matters.

If your book is like every other book, even if it’s better, it’s a commodity.
If your podcast follows the same format as every other podcast, it’s derivative.

You have to stand out and be so much better and different that they can’t forget you. THEN provide value. A lot of it.

Then, once you’ve delivered a ton of value. THEN you ask for the sale.

And if you did it right, you’ll get the sale.