Why Companies Buy Products and Services from a Value Brand

As business owners navigate rough seas, many are scanning the horizon so that they can plan for the new normal. One potential area of improvement is to better align your business strategy with your target markets. If you think yours is a value brand, but have not marketed accordingly, now is a great time to consider a new strategy.

Many Who Claim to be Value Buyers Don’t Pass the Test

Not all buyers are value buyers even though they claim to be. Some buyers acquire prestige and others procure performance while price shoppers are always negotiating. Value buyers fear losing what they've worked so hard to create but also want to continuously improve image, productivity and financial results while confidently managing the associated business and personal risks. They make price/performance decisions based on the perceived or measurable worth of the product or service.

V alue Buyer Personas Range from Innovative to Pragmatic

1. A Pacesetter persona justifies more resources to satisfy their innovation needs
2. Effectiveness personas strive to do more with the same resources
3. Efficiency personas want to do the same with fewer resources
4. Economizer personas are willing to do less with far less resources
   

Value Buyers Have a Response Mode

Their reaction to how a solution will close the gap between their current situation and desired results will reveal their response mode.

Value Brands Work Hard to Earn Value Buyer Attention

When value buyers believe that you care about them and that you understand their goals and interests, they may invest time learning about what you offer. They like being associated with a culture and principles that are similar to theirs. They align with causes that give back to the community. Consistently delivering on your brand promise will differentiate you from puffery brands.

When looking for a solution, value buyers rely on expert opinion influencers. They study white papers, success stories and partnerships. They pay attention to reviews and awards. Free trials, guarantees, convenience, and friendly, knowledgeable employees who communicate well make value buyers feel comfortable engaging in conversation.

Inspire Value Buyers to Want to Do Business with You

Help your raving fans to recommend your company by educating them on your unique value proposition, upcoming events and campaigns. Act rapidly when value buyers respond to your call to action. Anticipate needs based on their respective stage in their buying process – awareness through purchase.

You’ll know that you’re an effective marketer when you consistently earn the right to conduct consultative sales interviews. Ask provocative questions that are based on what you have learned about their industry, company, customers and best practices. Their answers will reveal their internal perceptions and most pressing concerns along with their persona and response mode. You can then objectively assess their situation and recommend the optimal approach for closing gaps. If they decide to pursue a business relationship with your company, they will associate your higher than median price with the measurable value that you offer.