Using Elements of Value Create Customer Appeal

What Are the Pyramid of Values' Elements?

What Components Make Up Value?

1. Functional components: These are things that make life easier, lessen discomfort, and are appealing due to their diversity or aesthetic worth. Time-saving, financial risk-reduction, organization, integration, connectivity, information-gathering, effort-reduction, hassle-avoidance, cost-reduction, quality, variety, and sensory appeal are the functional components in the parts of the value pyramid.
2. Emotional Components: These components concentrate on the feelings that a good or service evokes in the user. The emotional components of the pyramid's parts of value are: decreases anxiety, rewards me, badge value (something that denotes attaining a certain status), wellbeing, nostalgia, design, therapeutic value, enjoyment, attractiveness, and offers access.
3. Life-changing Components: These factors have the potential to radically alter your life in some way. You might decide to purchase a good or service because it inspires you, helps you become more self-actualized, offers you hope, connects you to a community, or can serve as an heirloom to be passed down to future generations.
4. Social Impact component: The social impact category, which consists of just one value—self-transcendence—is at the summit of the pyramid. This describes a good or service that has the potential to improve the lives of others or the entire globe, in addition to changing your own.

The Elements of Value and Your Business: How to Apply Them

1. Focus on various components. A good or service frequently meets several criteria on the value pyramid. One consumer might purchase a coat because it keeps them warm; they feel good wearing it; it's a status symbol; and the company contributes a portion of its sales to charity. The customer has additional reasons to choose your product over one from a rival when you focus on new components.
2. Keep in mind that different buyers prioritize various factors. A college student may choose to visit a grocery store because they can receive a rewards card that saves them money; a busy mom may choose to visit one because it is nearby; an athlete may go there because it has the highest-quality protein drinks; and so forth. Different clients have various priorities. You might want to focus on a wide cross-section or go deep.
3. Examine the marketplace. A good SEO company makes market research a priority to find holes that your business might be able to fill and examine the value-added components that your rivals are using. By doing this, you may be able to improve your value proposition and gain a competitive edge.