Episode 14: Value Driven Marketing Business w/Luca De Stefano

2 June, 2020 / Host: Magnus Billgren

The Wonderful and Demanding World of Value

In today's fast-paced and tech-driven world, identifying and communicating value is crucial for businesses to succeed. This is especially true for companies like Ericsson, which specializes in providing technology-intensive products and services to customers around the world. To gain a better understanding of the importance of value in today's business landscape, we spoke with Luca De Stefano, Sales Readiness Director at Ericsson.

According to De Stefano, working with value has three major impacts: addressing the right business priorities for customers at the right moment, helping customers solve their daily challenges for tangible benefits, and enabling customers to capitalize on the value delivered by products and services, ultimately getting paid for their investment.
To achieve these goals, De Stefano stresses the importance of adopting a value logic, which can be illustrated using a "value tree" tool. This approach focuses on proving value, rather than simply talking about it.

In this article, we'll dive deeper into the world of value-driven marketing with Luca De Stefano, exploring the importance of value in today's business landscape and how companies can use value-driven marketing to gain a competitive advantage.

The Importance of Value in Today's Business Landscape

In today's world, customers have more choices than ever before. With the click of a button, they can compare prices, features, and reviews of products from around the world. As a result, companies must do more than just offer a good product or service; they must also communicate the value that their products and services provide.

According to De Stefano, value is about helping customers achieve their business objectives. This requires a deep understanding of the customer's priorities, challenges, and goals. Companies that can successfully align their products and services with their customers' needs are better positioned to succeed.

"Value-driven marketing is about understanding the customer's priorities and aligning your solutions with those priorities," says De Stefano. "It's about providing tangible benefits that help customers solve their daily challenges."

"Customers today are looking for more than just technology," says De Stefano. "They want to see how technology can help them achieve their business objectives. That's where value-driven marketing comes in."

The Value Tree: Proving Value, Not Just Talking About It

To truly demonstrate value to customers, companies must be able to prove the benefits of their products and services. This requires a deep understanding of the customer's priorities, challenges, and goals, as well as a clear understanding of how the company's products and services can help.

The value tree is a tool used to illustrate the company's value proposition to customers. The value tree breaks down the customer's priorities, challenges, and goals into actionable steps, showing how products and services can help at each stage.

"The value tree is all about proving the value of our products and services," says De Stefano. "It helps us show the customer exactly how our solutions can help them achieve their business objectives."

By using the value tree, Ericsson is able to show its customers how its products and services can provide tangible benefits, such as increased efficiency, improved productivity, and reduced costs. This approach allows Ericsson to demonstrate the value of its products and services, rather than just talking about it.

The Benefits of Value-Driven Marketing

The benefits of value-driven marketing are numerous, and as Luca de Stefano explains, they can have a significant impact on the success of a business. Here are some of the key benefits:
  • Improved Customer Satisfaction: By understanding what customers truly value, businesses can deliver solutions that meet their needs, leading to greater customer satisfaction and loyalty. This can also result in positive word-of-mouth marketing, which is crucial for any business.
  • Increased Sales: When businesses focus on providing value to customers, it often leads to increased sales. By showing customers how a product or service can solve their problems and meet their needs, they are more likely to make a purchase.
  • Competitive Advantage: Value-driven marketing can help businesses differentiate themselves from their competitors. By delivering unique value propositions that resonate with customers, businesses can stand out in a crowded marketplace and establish themselves as leaders in their industry.
  • Greater Profitability: When businesses provide value to customers, they are often willing to pay more for the products or services they receive. This can lead to increased profitability for the business.
  • Improved Innovation: By focusing on value, businesses are more likely to innovate and develop new products and services that meet the changing needs of their customers. This can lead to long-term growth and success.

Overall, value-driven marketing is a win-win for both businesses and customers. By understanding what customers truly value, businesses can deliver solutions that meet their needs, leading to increased sales, profitability, and customer loyalty.

Interested in learning more about value-driven marketing and product management, The Productbeats Product Management Certification Program is a great place to start.

The program covers a wide range of topics, including market research, product strategy, product development, product marketing, and more. Participants will learn how to identify customer needs, create value propositions, develop and launch products, and measure product success.

One of the unique features of this program is its emphasis on real-world experience. Participants will be applying the concepts and strategies they've learned to their current job. They'll also have the opportunity to connect with other product managers and industry experts through online forums and networking events.

It's a great option for anyone looking to take their product management skills to the next level and stay ahead in a competitive market.
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