The term is used so often some view it as little more than a buzzword. Yet, by it’s very nature, “Value” indeed has everything to do with the sales process and whether one will trade their money in exchange for a desired product or service. Unfortunately, it is seldom defined and, because of this, often misunderstood.

Truly understanding the concept of value — especially in relation to price — and being able to communicate this effectively to a potential buyer, allows for a healthy profit margin while adding significantly to the other person’s life and/or business…and without having to discount.

In this video, we’ll see why this is, and the key shift in focus that begins the value communication process.

At the end of the video we looked at five “Elements of Value”:  “Excellence, Consistency, Attention, Empathy and Appreciation.” While we’ll explore at these individually in future posts, how have you applied any or all of them in order to add value to those with whom you do business?

I recently posted the following on my Facebook page:

“When you sell on price you are a commodity.
When you sell on value you are a resource.”

One person suggested: “So let’s lower the price and raise the value.”

I replied that in certain very specific situations, that works. Not too often, though.

By and large, when you “compete” on price, it’s a losing proposition for everyone involved.

Yes, everyone. Obviously for the one who didn’t get the sale because…they didn’t get the sale.

But, also for the company that did get the sale. After all, by lowering their price, their profit margin shrinks. It is harder to service the account, invest money in other necessary areas and, if they do this too often, perhaps even to remain in business.

Key Point: And, when someone buys from you only because you had the lowest price, they will be “loyal” to you only until someone comes along with an even lower price than yours. This is commonly known as “the race to the bottom.” Again, it’s a race that everyone loses.

Everyone? But, what about customer; they certainly didn’t lose.

Actually, especially the customer. When their vendor can not afford to service the sale, they lose. When their vendor goes out of business, they lose.

On the other hand, when you sell based on value (not just the intrinsic value of your product or service, but the entire customer experience), you have added much more in “use value” to their lives than what they paid, while also making the substantial profit you deserve.

Yes, drum roll please. Well, after one month, including two weeks of submitting videos and two weeks of voting, we finally have the winners of The Go-Giver Thank YOU Contest ready to announce.

And, the winners are…

Grand Prize $1,000 – Sabrina Risley

Five Runners Up

#1 – Norbeth DeJesus

#2 – Laura Newman

#3 – Christie Ellis

There was a tie for 4th Runner Up, decided by a toss of the coin, which resulted in…

#4 – Gina Parris

#5 – Amy Wells

Today the runners up will get to decide, in order of their finish, which coaching session — based on The Five Laws of Stratospheric Success — they will choose.

VIEW THE VIDEOS (They’re really cool!)

Again, the awesome coaches who have volunteered their time to do this are:

Law #1, The Law of Value – Melanie Benson Strick and Jim Palmer

Law #2, The Law of Compensation – John David Mann

Law #3, The Law of Influence – Dondi Scumaci

Law #4, The Law of Authenticity – Dixie “Dynamite” Gillaspie

Law #5, The Law of Receptivity – Randy Gage

John David Mann and I want to thank everyone who participated either by submitting a video or by voting.

And, mainly, we want to thank each and every one of you for being such awesome Ambassadors of The Go-Giver Message.

Okay, so anyone who knows me knows I’m not only a Dunkin’ Donuts fanatic…I’m a Dunkin’ Donuts groupie. I can be anywhere in the U.S.A. where a Dunkin’ exists and, if I see it, I stop in for their delicious coffee.

And, on Sundays, two donuts (mmmmmm, donutzzzzz rgrgrgrgrgrgrgrgrgrgrg)

My favorite Dunkin’ store of all though, is in my hometown of Jupiter, Florida. The store manager there is Steve. However, Steve isn’t just a manager. Steve is a leader, he’s a teacher, he’s a developer of young minds. He does such a terrific job with those kids and young adults on his team, it’s awesome to see.

One of the things he does is show them by example how to go out of their way to provide a value-added experience. He makes all his customers feel special. He handles the occasional customer grumbling with diplomacy and class, and looks for any reason to acknowledge a customer, such as recently when a little boy was being sung “Happy Birthday” by his family, he came over with a box of donuts as a birthday gift.

So, when two Sundays ago, I came in just a bit too late for my weekly chocolate coconut donut that I look forward to for the entire six days prior (someone had just bought the last one – D’oh!), his young crew took it upon themselves to make sure I would never be such thusly disappointed again. (Since I said “thusly” we can pronounce “again” as A-Gain).

When I arrived this past Sunday, however, there were again no chocolate coconut donuts. But, just as I saw it, John caught my attention. “The delivery of the base donut didn’t come through so I put something extra special together for you” he informed me. “I took a chocolate honey-dipped donut and put twice as much coconut on it as on your regular donut. I think”, he added, “you’re really going to like this.”

It was delicious. So awesome! Even more terrific than that, though, was the fact that this young Go-Getter/Go-Giver spotted an opportunity to add value to a customer and took it upon himself to do it.

Yep…Steve done good, and so has Dunkin’!

This was tough! I’m talking really, really difficult! The panel of mysterious, secretive, clandestine, ninja-like, un-named judges, whose names and votes are forever sealed in figurative hermetically-sealed jars, struggled through a weekend of watching countless video entries into “The Go-Giver Thank YOU” Contest.

NO NO, wait…we didn’t struggle because the videos weren’t fun to watch. Quite the contrary, they were awesome! I mean, truly awesome!!

The challenge was they were all so terrific and inspiring that choosing just ten finalists was mind-bogglingly difficult. We did it by voting separately and tallying up the totals, and each of us expressing how lucky we felt that we didn’t have to go through the pressure of being the sole decision-maker.

So, you’ll notice there are ten. They are in “reverse alphabetical” order (hmm, for some reason a person by the last name of ZADER came up with that idea). You can vote for one person. Feel free to change your mind if you’d like. When you re-vote it will override your previous choice.

We also included two more as Honorable Mentions because they both tied for 11th, and were mere percentage points behind the 10th person. While you can’t vote for them, we know you’ll enjoy their videos as well.

Now it is your turn. It is up to you to determine who the winners will be. So, go forth my friends, and vote. Though, unlike certain voting campaigns, vote early but not often.

Mainly, have fun watching these superb videos. Oh, the voting goes through Friday, July 1st and the winners will be announced on Tuesday, July 5th.

And…a huge, huge thanks to everyone who took the time, made the effort, and shared their hearts by submitting their videos.