The Value of Value

My friend Trevor Lui (@LuiSays) said it best...time is money. But you are not likely to part with either without  knowing the value, or the promise of value, that you will receive in return. When was the last time you really gave some thought to defining value?

Value is a finicky friend to time and money; value is as much about perception as it is a measurable commodity. The same value means different things to different people, cultures and time zones. So how can you deliver value when it's a moving target?

If we presume that you would trade time or money for a product, then value could be defined as the service you provide. It goes without saying that your products must be on par with or have benefits that comparable products in your category have. And I think it's fair to say we've all been promised "the best service" to death by every organization from fast food to politics.  So is value a myth? Is value an empty promise?

The answer is everything is a commodity and loyalty is a myth. In our A.D.D. society of smart phones and tablets, we don't need to be loyal to any product or brand as we can jump from value promise to value promise with the tap of a finger.

To compete on value you must evolve from providing great service to being more fascinating than your competitors. A new product has an inherent fascination factor but it is the organizations themselves that are inherently fascinating that we strive to emulate. Take Apple for example, they will release a new iPad3 this year; the product will have a fascinating elements, but they will sell tens of millions because Apple continuously evolves itself to be more fascinating than its products.

Until next time,
Stevethestevereport@gmail.com

PS: Not sure how to become or stay fascinating? Then pick up or download Sally Hogshead's book Fascinate; it provides a framework to get you there.

LinkedIn Polls: A Useful Tool? (blog)

So I tried out the new LinkedIn polling feature (see Chicken vs. Egg poll) and have some likes and dislikes...


I like...

• the fact that group members, when they receive an email update, can vote on the poll right from thier email. This is great because the user doesn't have to click several times to vote.
• as an administrator it's really easy to set up and monitor. if your event or company has a LinkedIn group, its a great way to get a poll out fast and garner quick returns.

I dislike...

• I set up my Chicken vs. Egg poll to run for 1 week. This was for no particular reason, just seemed like a good idea. As the person running the poll, I can't seem to close it or end it...nor are there any additional analytic tools beyond the results. This is OK if you are asking a simple question, but not so useful for more in depth questions.
• The poll can not contain any live links, photos, pop-ups or other "aids" to explain an optional answer. For example, your voter may need to read a definition of a technical term to answer the poll correctly.

Overall, its an easy tool to use for easy questions. However, don't think this tool - in its current form - will replace audience/attendee surveys or in depth opinion gathering research. But it may just be the too you need to get a quick read on a keynote speaker...or current opinion on a very old question!


Until next time,
Steve
thestevereport@gmail.com