What’s the Cost of Adding Value?

“Giving value,” “leading with value,” “providing value,” and “adding value” are all terms familiar to attraction marketers and those interested in attraction marketing. They refer to ways to attract prospects and to build relationships.

But what exactly is “value” and how do you know if you’re giving it or getting it? And, maybe more important, what’s the cost of adding value?

Last post, I gave an example of how one forum post could provide tremendous value.

Let’s take a deeper look at what value is in attraction marketing in terms of “Content” and “Commerce.” Then, I’ll provide an vivid example of both from some recent interactions I’ve had with Raymond Fong and Ferny Ceballos of SEO Networker.

Content: Leading With Value

(Webster’s defines “Value” as something (as a principle or quality) intrinsically valuable or desireable.)

Quite simply, providing value in content comes from a mindset of “giving without want.” By that I mean you’re writing that article, shooting that video, or recording that audio file, solely for the purpose of offering useful, insightful, valuable information to the consumer. That’s it.

You’re not trying to “sell,” them or “get them” to do anything.

Types of value in content could include:

• Leading a step-by-step tutorial on how to complete a particular task or process
• Giving an insightful explanation of an critical concept
• Sharing a personal story that offers an important lesson or demonstrates a principle in action
• Answering someone’s question such that they are left with a new opening
• Responding to someone’s objection or complaint in a way that leaves the person feeling heard and respected
• Asking a provocative question (say, in a forum) that triggers a thought-provoking discussion

Commerce: Providing or Adding Value

(Webster’s also defines “Value” as a fair return or equivalent in goods, services, or money for something exchanged. Relative worth, utility or importance.)

Now, let’s be honest, marketers aren’t in business just to give without receiving anything in return. At some point, a marketer will wind up presenting or pitching an offer and invite you to buy.

How do you do that and still be true to the “value first” principle?

1. First, make sure that you have “lead with valuable free content.” (see above)

2. Second, make sure that you’ve got a good — no, great — product. More importantly, make sure that product is offered below what it’s actually worth.

(”Worth” is, of course, relative. One person’s “bargain” is another’s “rip-off.” The rule of thumb is: if someone used the product before they bought it, would they pay more than you’re asking for it?)

3. So…offer your “great product” for free!

(One of the “secrets” of Internet marketing is: The best way to make money is to give away a valuable product for free. But that’s the subject of a future post.)

4. Demonstrate: Show the value of your product by providing testimonials from people who have used it. A powerful testimonial includes where the person started from, what specific benefit they received, and the specific, tangible results they produced from using the product.

5. Upsell (with lower pricing): Give discounts on new products to existing customers especially if those existing customers had previously gotten your free product.

6. Bundle: Say, you’re an affiliate selling someone else’s product. That means other people are also offering the same product. To distinguish yourself, you add one or two (or three) of your own products to your overall offering for the same price as the original affiliate product. That’s adding value.

Example: SEO Networker

My interactions with SEO Networker, Raymond Fong and Ferny Ceballos, provide a great example of all phases of the Content and Commerce value propositions presented above.

Initial Contact: Leading With Value

A couple of months ago, I signed up for their free 8-part video series on what they call “SEO 2.0″ because I wanted to get the right plan in place for my blog and social content. I implemented as I went along and noticed pretty immediate improvement in my Google results in short and long-tail keywords. I’ve also noticed a sharp, and continued rise in this blog’s Alexa traffic rank. Not to mention, their “silo structuring” tip for blogs made a huge difference in how I organized the content on this blog. (Notice: Valuable content provided for free.)

So, I tweeted Raymond Fong to let him know this and ask how could I join their SEO Networker Mastermind subscription site. Answer: Closed for now; will let you know when it’s open. Cool with me.

Additional Products: Providing Value

Fast forward to a couple of weeks ago, and Ferny Ceballos tweeted that they had a new free DVD called SEO Demystified. I clicked the link and signed up. (Notice: Valuable content provided for free leads to repeat customers.)

After clicking on submit, I was hit with a new offer. This time to buy another DVD, SEO Rush, for a discount price. Hmm. Normally, I just click on “No, Thanks” when I’m confronted with these upsell offers. But this time, I clicked on “Yes.”

Well now. Another upsell offer. This time for SEO Blitz, the sequel to SEO Rush. Double Hmm. This has now become a bigger financial risk. But, I flashed back to the 8-part video series and felt comfortable that I’d get the same or more value from this product. So, I clicked Yes again.
(Notice: Setting a precedent for providing value leads to increased sales.)

Along the way, being a former magazine editor with pet peeve for typos, I noticed a somewhat confusing and potentially sales-reducing typo on one of the upsell pages. So, I thought I’d provide some value of my own and I DM’d Raymond about it. He thanked me and said he’d fix it right away. Cool.

What followed next took me by surprise.

Offer I Couldn’t Refuse: Adding Ridiculous Value

Same day, Raymond emailed back, first to thank me for the head’s up on the typo and also to inform me that I was the first person to purchase their new DVD offering. Pretty cool; nice to know.

More importantly, because of all of that, he was going to extend me an unprecedented special offer if I agreed to provide him and Ferny with feedback on the products as I used them. Feedback? No problem.

All I can say about his offer is that it involved early access to SEO Networker Mastermind and some other cool perks that I’d have to kill you if I told you. (Seriously, I agreed with Raymond that I wouldn’t publish the details.) Suffice it to say that I took him up on the offer. (Obviously: Crazy value provided!)

Quick Look Inside SEO Networker Mastermind

As I write this, the DVDs are on their way. I have, however, peeked inside the SEO Networker Mastermind site. LOTS of info there! First thing I did was read Ferny’s “Attraction Marketing Formula” ebook, which is on the site.

Bottom line: that ebook is an awesome breakdown of exactly what it says–the formula for putting attraction marketing in action for any type of business. It gives more detail in a relatively short amount of space about this formula than I’ve seen in one place. Extremely useful. Looking forward to adding some of its concepts to my own marketing efforts and to digging in further to the Mastermind site.

The Cost of Adding Value

It should be clear by now the answer to the question posed by the subject of this post.

It really doesn’t cost you anything to provide, add, or lead with value. Yes, admittedly, it will cost you time to create compelling, valuable content.

But is that time really a cost (as in a “loss”) or is it an investment (as in something that will lead to increased value) that will bear fruit and attract prospects to your business over time? For me, and I hope you’ll agree, it is the latter.

It also may cost you something in terms of reduced revenue from your immediate sale. But isn’t that worth it if it builds your relationship with your customer and opens the door to future sales? I think so.

Many thanks to SEO Networker for their special offer and for being a great example of the “providing value” principle in action.

Wishing You the Best,
Ben Mapp

- - -
Like this article? You can subscribe to our full feed RSS. You can also subscribe by email and have new posts sent directly to your inbox.

No related posts.