You probably hear it said a lot but what does customer value actually mean?
More importantly when you’re building a new website project with a view to turn a profit, why is it hugely important to understand what customer value is?
To be clear, when we’re talking about customers in respect of internet marketing, they’re the users and consumers of our website content.
First of all, let’s look at the goal of your website first – revenue or to put it bluntly, money.
What is money?
Money is a symbol of value in exchange for goods or services or as investopedia puts it, a medium of exchange.
If you give money to a shop and buy a drink because you’re thirsty, you hand over money [a symbol of value] to the shopkeeper at an amount that is deemed equivalent to the actual value of what the drink is worth, let’s say 2 dollars. If the shopkeeper said it’s 50 dollars for your bottle of water, and water is easily accessible to you, you’d say no and walk away unless he drastically reduced his price.
The point here is that we’re highlighting the value offered by the shop with its bottle of water:
You’re buying fresh, chilled bottled water from a spring and all you have to do is walk into the shop which is right in front of you and hand over you money to get it. The shop adds a margin [profit] to the bottle of water and hey presto, we have a value exchange – you’ve handed over your money and the shop cuts a profit from the value they served.
The Affiliate Marketers Common Problem
Every day I am guaranteed to read posts and comments from people that have set up their website, are getting traffic and are failing to get generate any revenue from it.
The most common reason for this failure is actually very simple: There is no value being offered from the website
The lack of value is the lack of problem solving for your market, or a group of people in your market.
The Holy Grail – in order to turn a profit online your must offer a solution to a group of peoples problems within your market
If you have a group of people with a common problem and you have the solution for them, then you’re able to offer that solution in exchange for a symbol of value, i.e. money.
The Competent Site Builder
Again, I see this all the time and I must confess that this happened to me also when starting my internet marketing journey, no one is immune from it.
We can become very able and competent at creating websites, becoming familiar with our markets tools and strategies around social, SEO, paid advertising, wordpress, analytics and copywriting etc.
However the HUGE hole in this equation is there has been no focus on the core fundamental value proposition;
Simply put before you start building anything make sure you know the answer to this question – what value are you offering?
Fail to build your foundation of value and your website will fail to generate any meaningful and sustainable revenue.