What Your Value Message Says About You and Your Future - By John Hendrie"
For you savvy Hospitality marketers, here is a challenge. What is the difference between these two Value messages - 'Always low prices' and 'Save money. Live better.'
Certainly, the last several years reflected our emphasis on the deal, the discount and the price, as we all retrenched. Walmart, the author of both messages and lead Retailer in the world, certainly caught the flavor. But, their current slogan of “Save money. Live better” adds some new dimensions, and their Value message expands, influencing Consumers to purchase beyond just price considerations. Value messages of the past emphasized price discounts, whereas a new, more comprehensive delineation of Value now includes considerations of quality, convenience, service, environment and, of course, price.
We have our messages out there through so many mediums and avenues. We can dicker about the definitions of Value and quality and service forever. Certainly, those enterprises who began their discounting practices to stay in business are now cursing that day, for they may never recover, as Consumer expectations have been established. Unless significant value added benefits are defined and delivered, they are pretty well stuck, lamenting, “I’ve been down so long, it looks like up to me.”
What are you actually telling your audience with your Value message? Your potential Guests, patrons and customers want to spend, but spend wisely. The economy has softened; consumption is up. If you have maintained a relationship with them throughout the years, they want you to succeed. So, it boils down to what you (the Brand) say and how you deliver on that (Brand) promise. Slogans are a dime a dozen, but the ones which resonate are worth a million dollars. They are usually succinct, real, and honest. Consistent and acceptable delivery is directly related to the Standards you have established. With no Standards of Performance you will flounder and fail. It is time to move beyond just price!
