I Traded a Gun for a Stick

I TRADED A GUN FOR A STICK

Trading a gun for a stick might seem like an odd transaction to be discussing when my Sticky Notes are usually about marketing. Let's look at the complete story and the reasons why this tale is completely relevant. One Christmas when I was 10 years old, Santa brought me a brand new Davy Crockett cap gun. It was the shiniest, coolest toy I had ever received. It gleamed with authenticity and functionality. It was the cap gun every little boy wanted at the time.

After drooling over it for about a week, I finally built up the nerve to take it outside to show my young cowboy buddies. Living in the Bronx, I could conjure up 10 or more friends with little effort. Each one of my buddies was completely in awe of my new toy. Most of my companions also received some form of cowboy or Indian paraphernalia that Christmas. This, of course, quickly led to a high-energy game of Cowboys and Indians. I was the envy of the entire group, except for Little Al. You see, Little Al was small in stature, yet large in street smarts. His family was always struggling financially. As I remember, he was the only kid who would get a used bike from Santa. On this particular day, Al, who didn't have any cowboy or Indian stuff, had found in the park where we were playing a remarkable tree branch.

After he meticulously peeled away all the bark and carved a fairly convincing handle at one end, it was the coolest stick I'd ever seen.

Although the stick was silent, didn't shine and had no working parts, there was something about that stick. Al had to add the sound effects to make the stick convincing as a gun. It wasn't until after the game of Cowboys and Indians that the stick really began to show its magic. Throughout the rest of the day, Little Al's stick became a wand, a spear, a walking stick, a bat and an air guitar. On the other hand, my cap gun needed caps. Once the caps were gone, my gun was just a prop. Little Al's stick, however, was so much more. All that was needed was a bit of imagination, and Al had it. Can you guess where I am going here?

I traded my gun for that stick!

Little Al understood the benefits of offering a convincing Value Proposition. Definition of Value: the worth of something in terms of the amount of other things for which it can be exchanged or in terms of some medium of exchange. Monetary value is not always the value of something to its end user.

So, my little story now brings us around to the real message of this email. What is a Value Proposition and how do we create one for your service or product?

As a marketer, my goal is always to fashion my client's Value Proposition to fit the audience - just like my decision to trade with Little Al. The value of the stick became more and more appealing, as my needs changed throughout the day. Al recognized this and knew how to position his stick by selling its benefits. Not everyone in our gang would have been open to the trade. I was Al's perfect customer, and he knew it. After all, even then, I had an active imagination and loved creating things.

The first rule in creating a Value Proposition is understanding your customer.

This comes from securing customer feedback. Do the research. The more you know about your customer, the more likely you are to develop a message that answers his or her needs. My answer was to have a toy that I could play with all day, and didn't need caps. What you establish may not be for everyone. It should, however, resonate with your best customers.

"Things only have the value that we give them." - Moliere

The next rule is to develop a Value Proposition statement to be used as a blueprint to maintain a consistent message in all communications. In today's fast-paced, media-driven society, it's critical to deliver a message that cuts through the mustard quickly. Whether you're using traditional media methods or social or electronic media, a clear and concise Value Message will create a position for your offering in the minds of your potential and existing customers. Be sure to share the things that make you unique. Share this proposition internally with your employees as well. Don't under estimate the importance of getting employee buy in.

Everyone in your company can be a salesperson at any given time.

Most importantly, don't get caught up in selling primarily on price. The benefits of a product to a customer must transcend its cost. Does your product make the consumer more beautiful, healthier, smarter, sexier, etc.? What can be said about your product that your customer can experience? Make your customer understand what you are promising that your competition can't. The result will be a sustainable message, successful for now and into the future. Remember, your customer has many alternative products to choose from. Can you answer the question in ten words in less, customers when they ask, 'What's in it for me'? What Value Proposition will make him or her buy from you?

"Price is what you pay. Value is what you get." - Warren Buffet

So, who really made out better? It seems it was a win-win situation. Little Al and I both received the value we wanted. The cost of the trade was never an issue. Of course, my mom had a different take on all this. She made me return the stick and get my cap gun back-she just didn't get it. She wasn't Little Al's customer.