Value is not Black and White, it is Shades of Grey
Best Practice Advice & Sales & Marketing for Professional Services & Strategic Issues

Value is not Black and White, it is Shades of Grey

June 9, 2014

by Tony Vidler

At the most basic level “Value” is easy to define:

Value is Benefits less Costs.

That simple definition doesn’t highlight the enormous range of definitions for “Benefits” though, which is why trying to understand what value is results in everyone seeing a different shade of grey.

The range of possible benefits that client’s perceive would include:

  • price
  • convenience
  • satisfaction, or happiness
  • achievement of a particular outcome
  • creating direction & clarity, or the removal of doubt
  • making better use of existing resources
  • saving time

The list could go on of course, and complicating the perception of “value” is that for most customers most of the time the “benefit” is actually a package of benefits – it is a number of individual benefits added together.

No wonder many advisers struggle to articulate “value” in a way that makes sense to customers.

One of the key steps to being able to articulate your professional value to customers is to understand the shades of grey that a customer might see.

No magical marketing slogan or strong customer value proposition can really be created without first understanding what the benefits are that you can create and which customers will value.  Those benefits are many and varied, and will carry different weightings in different peoples minds.  Until you identify as many of those shades grey that constitute “benefits” you cannot get close to articulating the “value” you create in a way that appeals to a prospective customer.

Professional services clients rarely see value in absolute black and white, and nor can we as service providers.

© 2013 Tony Vidler.  All rights reserved.
All materials contained on this web site not otherwise subject to copyright of other parties are subject to the ownership rights of Tony Vidler.  Tony Vidler authorizes you to make a single copy of the content herein for your own personal, non-commercial, use while visiting the site. You agree that any copy made must include the Tony Vidler copyright notice in full. No other permission is granted to you to print, copy, reproduce, distribute, transmit, upload, download, store, display in public, alter, or modify the content contained on this web site.
Get financial adviser coach blog updates via email.
Enter your email address to follow this blog and receive notifications of new posts by email.
Join 319 other followers

Facebook: 0, Twitter: 13890, LinkedIn: 689

Follow tonyvidler on

Comments (2)

Leave a Reply