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“I’m thinking about writing a newsletter this week about the rapper Meek Mill,” I announced to my sons as I strolled into the kitchen. “What do I need to know about him?”
Son #1 removed the spoon from his mouth and let it splash into his Special K with strawberries. His mouth hung open as he stared at me.
Son #2 looked up from his iPhone for the first time in two hours and squinted at me.
They then looked at each other.
And then back at me.
“Dad. No. Bad idea.” said Son #1.
“Don’t try to relate, Dad.” said Son #2.
“Why?” I said. “He’s the ‘there’s levels to this stuff’ guy, right? That’s what I’m writing about.”
My sons talked over one another, voicing their objections with enthusiasm. Here’s what I managed to piece together:
Yes, Robert Williams—the Philadelphia rapper known as Meek Mill—recorded the song Levels.
Yes, that song was hype.
In 2013.
And no, I shouldn’t touch it because I’m old, lame, and trying way too hard.
Naturally, that only made me want to dig into it even more.
At bh&co., we repeat our tagline often:
You are owed nothing.
Deliver value first.
The challenge is that value may be the most overused word in business.
Everyone talks about it.
Few people define it.
Without specificity, sales reps sound like a lumbering version of Charlie Brown’s teacher: Wah-wahwah-wah-wah.
Lots of words.
Very little meaning.
That’s why I’m passionate about Bain & Company’s B2B Elements of Value Pyramid. It provides a common vocabulary—40 specific elements of value—that helps us explain exactly why customers should choose us over the competition.
Because there really are levels to this stuff.
Four, to be exact.
1. Functional Value
The foundational level of value.
Does your product perform?
Does it save money?
Generate revenue?
Scale?
2. Ease of Doing Business Value
This is where sales reps start to separate themselves.
Do you make your customer’s life easier?
Less stressful?
Faster?
3. Individual Value
Companies sign checks.
But people make decisions.
Does working with you help someone look smarter, reduce stress, or advance their career?
4. Inspirational Value
The pinnacle of value.
You’re helping customers believe their future will be bigger than their past when partnering with you. This level is about hope, purpose, and servant leadership.
The companies creating the strongest customer relationships—and earning a price premium for their efforts—successfully stack these levels of value.
Take Do it Best, for example.
Their education offers Expertise and Variety (both elements of Ease of Doing Business Value).
But it’s more than that.
Attendees gain knowledge and business skills.
That’s Growth & Development (Individual Value).
They build relationships with peers across the industry.
That’s Network Expansion (Individual Value).
And the team at Do it Best schedules games and entertainment in the evening—golf simulators and casino nights—that are a blast.
That’s Fun & Perks (Individual Value).
One program.
Multiple forms of value.
Or consider GenetiQ ERP.
At its core, GenetiQ integrates data across a dealer’s business, making reporting and decision-making dramatically easier.
That’s Integration and Flexibility.
Both Ease of Doing Business elements.
But there are additional levels of value.
When sales leaders spend less time wrangling spreadsheets and more time leading their teams, stress goes down. Confidence goes up.
That’s Reduced Anxiety (Individual Value).
And when they finally see a clear path toward achieving their goals, they receive something even more powerful: Hope.
That’s Inspirational Value.
Different solution.
Same principle.
Multiple forms of value.
Why does this specificity matter?
Because the LBM industry creates tremendous value every single day.
You save time.
You reduce risk.
You share expertise.
You build confidence.
You introduce new ideas.
But if your salespeople can’t name the specific value they create, how can they communicate it clearly?
If they can’t communicate it clearly, how can they capture that value through stronger relationships, greater loyalty, and higher margins?
The difference is specificity.
The Elements of Value Pyramid gives you the language to identify, communicate, and ultimately capture the value you’re already creating.
Explore Bain’s Elements of Value Pyramid here.
Less wrangling. More leading.
That’s GenetiQ. Watch the free webinar.
My sons were right about one thing.
I shouldn’t be quoting Meek Mill’s lyrics.
They are, uh, aggressive.
But Mr. Mill did confirm one thing for me.
He was talking about status and ladies.
I’m talking about value and customers.
Different subject.
Same lesson.
There are levels to this stuff.
Thanks for reading.
I’ll see you back here next week.
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