Podcast Transcript: The Importance of Delivering Value

Transcription of The Importance of Delivering Value. An episode of the podcast Doers Shakers Makers with Sierra Bailey.

Download the pdf and listen and see the show notes here.

[00:00] What makes a business the best at what it does? Usually, it’s because they exceed their customer’s expectations consistently.

[00:16] This is also known as value delivery and today we’re going to talk about how to make sure it’s part of your business. My name is Sierra Bailey. Welcome to Doers Shakers Makers, a podcast for talented, tiny business owners who inspire you in your business in life. Today’s episode is sponsored by the Doers Shakers Makers Network. If you are a talented, tiny business owner and have been wishing for a place to find the answers to your business questions, the support in what you are doing day to day and the people who get you. This is the place for you. You have group access to me to help you with your problems, the forum filled with information and a way to ask questions of your fellow talented, tiny business owners and access to all of the courses that I have created. It is a wonderful way for you to get education, support, and knowledge.

[01:14] Please visit DoersShakersMakers.com to find out more. And now onto today’s show. Even if you are not your own ideal customer and client, and that happens a lot of the time. We’re not always solving our own problems. We are sometimes solving problems that we see that other people have. So you still, however, are a client or a customer to somebody else and what business would you want to return to or rave about to your friends or share on social media? Why the one who promises you the answer to your problems and then over-delivers. It’s a no brainer when you really think about it, but sometimes we get so wrapped up in getting the message out about what we’re making or what we’re doing or what we provide and maybe selling that thing or actually doing the thing that we lose sight of what the real basics are in business.

[02:13] In last week’s episode I talked about how solving a problem for the person who you are selling to is one of the building blocks of having a business. Today we’re going to talk about value delivery, which is another building block. Because for people to purchase your services or products and then either tell their friends about it or return, which are two outcomes you’d really enjoy having, you need to make sure that they are understanding what the benefits are of your product or service and receiving them quickly, reliably and consistently. And I will say if it’s not quickly, they know that it won’t be quickly then. I have an order placed with an online store that sells corms. I think those are what they’re called. They’re the bulbs for gladiolus/gladiola, I am not the gardener in the family. I am, however, the internet researcher and the one that normally will go on and do the online transaction.

[03:17] So it was up to me to order these things for my husband. It takes two or three weeks for them to be shipped and arrive. It’s stated that everywhere. So that’s fine. I’m not even looking for my order. I’m not even thinking about it because I know exactly what the process will be in what I can expect. So even if you are somebody who will be delivering at a much later date, as long as you’re upfront about it, that’s all that matters because you are delivering what they expect. So delivering your benefits quickly, reliably, and consistently are the factors of what makes the best businesses. Not mind you, the best product ever made or the best service ever provided. Those are not what make the best businesses. Although we are talking about a service in a way. So yes, I mean the services involved, but here’s another, I’m going to pepper this with a lot of examples so it’s a little more entertaining for you.

[04:13] I enjoy reading a lot. I like to read hardcover books sitting at a dining room style table, like a big table. If I have my book flat on the table, it hurts my neck because I’m looking down too far. I don’t want to hold it up in the air too much. And I read enough that I started to get a sore in my elbow from it leaning on the table to hold the book up higher. So I ended up going on Amazon and I ordered these little wooden shelves, like an easel for the book. I love this thing. It was under $15, a great purchase, made my life so much easier. I decided that I have two different tables…whatever, long story, you don’t need to hear more about my reading style, but I wanted to order a second one.

[04:56] So I went on Amazon and I didn’t really care if it was the first one or not. As long as it looked like it. The second one ended up being bigger. I don’t know. I didn’t even know, I didn’t even look at the measurements! And I don’t really care because I was shopping on Amazon because I knew that the thing that I was looking for, the benefits, would arrive quickly, reliably, and consistently. I was not looking for the best book holder ever. So often we get a little confused when we own our own businesses because we think that we should be focusing on having the best product ever. Don’t get me wrong. You should have a fantastic product. You should put your definite mental capacity and your efforts into making a great product, but that’s not what your customers are looking to receive from you.

[05:42] I was talking to two good friends of mine today and I said, why do I always feel like I have to make the thing that I’m selling? I can’t just go sell something. I have to be the one to create it, to make the jewelry, to design the jewelry in my past life, and now create the services or the whatever. And you know, we decided that it’s because I’m a creative person, but really it’s because I’m a talented tiny business owner! And those of us that are talented, tiny business owners sometimes get really stuck on thinking that if we just have the perfect product or we just have the perfect service, then we’ll have the best business ever. But the reality is that the most important thing that you can do is deliver customer value. That’s what your customers and your clients are really looking for.

[06:26] It’s also why they’re often going to somebody small because they think that if you’re a smaller business and they’re often right, you’ll be able to give them more attention if they too are small. Rather than if they go to a huge company that provides services to thousands where they’re just a number. They’re coming to you because they want to have that relationship where they can expect a great customer value. So because a happy and satisfied customer will help you bring in more customers and business with unhappy, unsatisfied customers, will eventually probably fail. You want to be the business with the satisfied and happy customers. You want customers that want to rave about you to everybody they know and help you get the word out. Not having bad products or services of course, but by focusing on the value delivery. So I keep talking about this customer value delivery thing.

[07:21] Well, what is that? What do I mean? It’s basically receiving what is desired. Receiving quality for what is paid for. Receiving something in return for what they are giving. That’s basically the idea. It’s that they want to know that if you said you were going to send them this thing or hand them this thing or do this thing for them or help them with this thing that you will do all of that. They’ll get the thing. They’ll learn how to do the thing. They will work with you to do the thing. They want to know that if you promise it, something’s going to happen, that they’re going to receive it and to be the best business. Oh, I mean we want to be a great business. You don’t have to be the best, but if you want to be a great business, it means that you have to do so consistently and it’s always great if you under-promise and over-deliver way better than over-promising and under deliver.

[08:19] That means nobody wants to refer you. So within, now that we have the customer value, within the lifetime of having that customer, or let’s say the beginning of having the customer, there are two aspects of customer value. What is the desired value? So that is what customers desire in a product or service? That’s, Oh, you have this necklace or you have this service. Oh, I want that necklace. I want that service. I see it there. I read about it there. Yes, I want that and the other is perceived value and that is the benefit that a customer believes they will receive after purchase. Why you always hear in marketing that you should be talking about the benefits, not the features. The features would say this box is white, it has six sides and it is glossy. Those are the features. The benefits would say this box will perfectly hold your phone up so you can watch TV while laying on your side in bed and not have to hold your phone and not have a glare on your phone.

[09:20] So do you see the difference? They’re thinking about the benefits. That’s why when you have a description of your service, when you have a description of your products, when you’re marketing, when you’re doing social media, you should be talking about the benefits because that’s where they’re going to look for the value. And they definitely want to receive the benefits that in their mind you have shown them, told them, explained to them, they’re going to receive. So at the low level that would be like looking at the attributes of a product. So that would be like quality expectation of how it looks in real life versus looks in photos. If it is what it’s described. If you get the box and there’s only five sides and one of them is hollow, I actually saw a description of something at one point with comments on a website that said, “nobody said the bottom was hollow.

[10:08] I had no idea.” That’s why so many of us when we’re in the product space, take a lot of photos, even listings on Etsy. When Etsy started, I think you would have five photos and now they encourage you to have 10 photos and maybe a video because the more you can show, the more they’re understanding what they get. And the behind the scenes comments that are always made is that nobody reads. It doesn’t matter how much you’ve described something to somebody, they’re not going to read what you say. So even if you say this is made out of plastic, not glass, if they look at it and they think, “Oh that must be glass” and they receive it and it’s plastic, they’ll get mad at you if they think that it’s going to be glass. So some of it is beyond your real control.

[10:47] Some of its people just not reading or paying attention. But you want to try to avoid that. So at a higher level, it will be viewed as the emotional payoff or the reaching of a goal or desire. If I get this necklace, I will be beautiful. Everybody will want to be me and I will be a princess. I mean, you know, that’s what some people think in their head and if it doesn’t happen, they’re disappointed. So you don’t want to oversell and under deliver that’s why, because the emotional payoff will not be what they’re expecting. The same thing of sometimes when people buy very inexpensive clothes on the internet and then they get it and it’s like a quarter of the size and it doesn’t look like it. And it certainly doesn’t look like it did on the model when they put it on themselves.

[11:26] And you know, that’s how things like that happen. They’re not getting both the low level and the high level of the perceived value or the desired value. All right, so now that we’re understanding what this value is, how do you deliver value? Well, keep a few things in mind. There are two stages where they’ll access value, the before and the after the purchase. The value is perceived at various levels. So value needs to be delivered at various levels and understanding what customers values are in the first step of delivery are also incredibly important parts of this. So you want to make sure that you are communicating along the way from your social media, from the first second they hear you or see about you. This is why branding is so important because it puts a consistent message out there of what they can expect of you because it starts to set up in their minds the value that will be received, be it physical or emotional when they receive your product, your service, whatever.

[12:37] You need to start with that first communication, be it a Facebook post, be it standing up in the middle of a networking group, and introducing yourself. Starting from the first stage of making them start to understand what the value they would be receiving of working or purchasing from you and you need to understand what they’re expecting so you don’t want to set them up in order for them to be disappointed. What does it look like in the before purchase area? Well, a lot of these are going to be e-commerce specific because there’s some really detailed things here that can make a vast difference in what the value expectation is. You want to have, just like I talked about with those videos and photos, very clear descriptions of what is offered, of the benefits and the features, the cost, the price of what you’re offering, the delivery timeframe, the shipping costs, if extra charges will be incurred and these deal with services as well.

[13:33] For example, if somebody hires you to do their website and you will not be able to start working on that website for six weeks, you need to make sure that you are clear and upfront so that they know when they’re talking to you, either in the meeting or when they are reading something on your website that they know that there’s going to be a wait time so that they are not immediately thinking that you’re going to start working on their website and expecting that you’re going to have it up for them in three weeks and really you’re not even going to get started for six weeks. So a lot of this is that upfront communication so that so many people they want to read about something. I was reading something this morning, I’m, I didn’t write this in my notes so I’m not going to get it correctly, but it used to be the “tell me” world like you would tell a potential client or customer all of these things in person and now it’s a “show me” world.

[14:25] I think those are the correct words. And people will go to websites, social media, they’ll go look at everything they’re saying, just show me what it is, I’ll go find it all out. So they’re doing a lot of the behind the scenes research ahead of time. If you’re having a meeting with them, you don’t necessarily have to tell them all the things on the website, but you should check with them. Sometimes I’ll meet with somebody and I’ll think that they completely have read things on my website and then I realize they’ve never even been to my website and I’m like, Oh I need to explain. I need to tell you. But a lot of times people definitely have already looked at things so you don’t have to tell them. Let’s return to the list. You need to make sure you are clear with the return, the cancellation, the money-back policies.

[15:06] You need to be clear with testimonials, reviews, and references so that they can see the social proof that what you’re doing actually will be delivered. The other people have had it delivered. The toy reviews do so well on eCommerce sites. That’s why testimonials are such a big part of service websites and why things like Facebook and Google My Business exists and Yelp. So that you can actually see that people have been delivered. If you are purchasing a service or a product. You want them to see that you will respond in a timely manner if they reach out to you on social media or via email. You want to show that both your design and your personal self or your building if you have a brick and mortar are clean. That you’re polite, that your staff is polite, that you and your people are all knowledgeable of products and services. So that’s the way that you’re showing them, even before they get to the purchase site of what value can be expected.

[16:03] You’re delivering value by giving them all of the information that they’re looking for. The next step is, because they won’t go on if they have not felt that they are delivered value on that first part. But the next step if they do go on will be the after purchase. So did you immediately follow up that payment was received? And whatever the next steps are, be it your service being provided or at the product being on the way? Have you communicated the shipping, the delivery, the scheduling of information? Have you responded again in a timely manner? It’s a big deal. Make sure that you are responding in a timely manner, no more than 24 hours. Ideally within one to two. Again, with the cleanliness, with the politeness, with the knowledge of the products and the services. And then, of course, the delivery of goods or services provided you realize that I went through two lists, two columns of things and PS, there are show notes available on Ms.SierraBailey.com under podcasts.

[17:03] So you can actually download a PDF of this if you want to see the list. But there are lists of many things that are part of the value before we even got to the delivery of the goods or the services promised. So are you starting to understand the delivery of value? There’s so much more in what your customers and clients are going to expect from you to have that great experience and to make sure that they will not only return but recommend you to others. So we now understand why delivering value is important. You’re understanding what customer value is, you’re even understanding the specifics within both product and service-based businesses. So now the question is, how do you deliver this consistently? Well, that is where systems come in and again, like I said, the talking about the value section of your business and the importance of that.

[17:57] A lot of that does go into things like scaling and scaling basically is recreating something without having to put in more effort. So adding incremental effort to get exponential growth. So it is by creating systems so that you don’t have to reinvent the wheel every time you are shipping out an order. If you already have a business that’s doing pretty well, you know what I’m talking about. You know that there is a system and a protocol for shipping orders or for delivering services. They ensure you are consistent with your processes. If you are not sure if you’re customers and clients are enjoying your current systems, ask them. They love giving feedback. Tweak it until you are proud of your delivery of values and that your clients and customers are happy and referring you it’s a great way to know if you have satisfied clients and customers because if you are hearing from other people that they’re sending people your way. And once you get those systems down, it does not have to be a very long complicated process,

[18:55] just once you start to get them down, you can always change them later. Record the process and make them what you are doing each and every time. I hope after this episode that you’re understanding the importance of value delivery, that you are understanding a little bit more of how it fits into your business. Be it a product or a service-based business. And I hope that it inspired you to look at your own business and see if you are delivering value. If you’re satisfied with your results if your clients and customers are referring you. If you know and you are so proud of yourself for delivering value. I applaud you. That is a wonderful way to be on your way to a successful business. And if not, please feel free to reach out. I’d love to have a conversation about how I can help you do that. Thank you for joining me today. My name is Sierra Bailey and this is Doers Shakers Makers, a podcast for talented, tiny business owners. If you enjoyed today’s episode, why not refer somebody to listen to this podcast? Because if you’re receiving value, they can too. But I’ll be back next Monday to keep you inspired and get you doing, shaking and making.

The Doers Shakers Makers podcast is hosted and produced by Business Strategist, Speaker, and Writer, Sierra Bailey. Have something to say or want to say hi? Send Sierra an email.

Did you know that there is a group filled with people just like you, who love to learn, grow and connect? It’s the Doers Shakers Makers Facebook group, and we’d love to have you join us!

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