Cracking the Code of Value

Cracking the Code of Value: Beyond Impressions and Sales

The term "value" gets thrown around a lot in business, but few truly grasp its nuanced meaning. We often hear it in discussions about KPIs (key performance indicators) or deliverables, but this is where most people misunderstand. Some believe that common metrics like reach, impressions, and sales hold universal value, while others struggle to assign monetary worth to their offerings.

Think of value as a person.

Just like individuals, businesses have unique goals, desires, and aspirations that evolve over time. What one company values might be irrelevant to another. Market conditions, leadership styles, and the business's current stage all influence its perception of value.

The Path to Value: It Starts with Them

If you want to create real value for potential partners, sponsors, or clients, stop focusing on yourself. Shift your attention to them.

Many make the mistake of jumping straight to what they can offer before truly understanding the other party's needs and desires.

This is where the discovery phase comes in.

It's a crucial step that has allowed my company to secure multiple six-figure partnership deals over the last few years. Through the discovery phase, navigate conversations with the goal to uncover the value we can provide and sometimes also identify hidden opportunities for new revenue streams.

The Art of Asking Questions

A key aspect of discovery is learning to ask insightful questions. This isn't about interrogation; it's about genuine curiosity. Approach conversations with a mindset of wanting to understand their goals, challenges, and aspirations.

For a moment, stop thinking about it as a business transaction. Imagine you are an extension of their team. What are they looking to accomplish this quarter? What are their biggest pain points? Asking questions will help you see what is of value to them, and will also give you a chance to see where there are alignments.

Building Value Takes Time and Proof

There are no shortcuts to establishing your worth. It takes time, consistent effort, and tangible proof of your capabilities. Don't rush to charge premium prices before you've earned credibility. Instead, focus on refining your craft and delivering results.

Thinking back to when we started organizing events. Initially, we couldn't secure monetary sponsorships. We had to accept in-kind donations in exchange for our sponsorship levels.

But through persistence, consistent delivery, and a focus on growth, the conversation shifted. 

Our sponsorships grew from $500 to $1,000, then $10,000, and now we have clients who see the value in mid-five to mid-six figure partnerships with us.

Thinking Outside the Box

Another key to creating value is to avoid getting trapped in a rigid mindset. Don't limit yourself to a predefined list of deliverables.

Instead, leverage your creativity and think outside the box - A common saying I know, but I want you to begin thinking about it differently. Not just in ideas for how the product or service fits into whatever you’re doing, but also what the partner will walk away with and its longevity.

If you've done your discovery work, you should have a list of goals that you can brainstorm around. Think about how your existing resources, skills, or platform might address their needs from all angles.

Perhaps you can offer access to your audience, create content tailored to their product, or even integrate into a campaign.

This is how we elevate our partnerships beyond basic sponsorships into customized collaborations.

Your Value Transcends Metrics

When you truly understand and deliver on value, you become more than a set of metrics to your partners. You become a strategic asset, an indispensable part of their success.

So, as you build your business, remember: value is about more than reach, impressions, and sales. It's about solving problems, exceeding expectations, and building relationships that last.

Keep building, Conrad

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