In this issue, you’ll learn:

1. How to make more money by making things that provide people more status and belonging

2. Clubhouse as an example

Time to read: two minutes.

Types of value propositions

Today, we will talk about what's in bold in the list below.

• Price

• Cost reduction

• “Getting the job done”

• Risk reduction

• Customization

• Accessibility

• Convenience/usability

• Performance

• Design

• Newness

• Brand/status

Brand/status

The act of using and displaying a brand creates a feeling of belonging, as customers feel like they are part of a larger group by wearing the same logo or using the same product.

Wearing the same brand as a friend or a celebrity can also create a sense of camaraderie, as customers feel connected to these people by the shared use of a product.

Additionally, customers may find value in a brand’s reputation for quality, as loyal customers may trust that a certain brand will deliver a reliable and high-quality product.

The use of a brand’s logo or product can also serve as a status symbol, as customers may view wearing a certain brand as a sign of success or accomplishment.

How can I do that?

Customers can see value in a brand or status if it gives them a sense of prestige or recognition.

For example, a company can market its products as unique and desirable, which gives customers a sense of status and respect.

This could be accomplished through sophisticated marketing campaigns, such as celebrity endorsements or limited-edition products.

A company could also make a loyalty program that rewards customers for sticking with them. This would give members a sense of exclusivity and prestige.

Lastly, companies can give customers access to products or events that aren't available to the general public. This gives customers a sense of value and status.

Clubhouse as an example

Clubhouse used status as a value proposition by creating an exclusive and invite-only platform.

Clubhouse only let people join if they were invited, which gave its members a sense of status and being special.

Clubhouse also gave people a sense of prestige by giving them special access to events and conversations with celebrities and people who have a lot of power in their fields.

This created a sense of status and value for Clubhouse members, as they were able to access content and conversations that were not available to the general public.

Wrap-up

Brand and status can become a value proposition by giving customers a sense of prestige or recognition through sophisticated marketing campaigns, loyalty programs, and exclusive access to products or events.

Examples include luxury car companies, designer clothing brands, and private clubs.

SaaS apps like Clubhouse have used status as a selling point by making a platform that is only open to people who have been invited and that gives them access to events and conversations with celebrities and other influential people.

Our mini-series on value proposition

As we conclude this series on value proposition, we hope that you have gained a better understanding of what it is and how it can benefit your business.

We've talked about how important it is to make a value proposition statement that speaks to your customers, how important it is to focus on giving your customers a great experience, and how to stay ahead in the market.

We are confident that these insights will help you achieve success in your own value proposition journey.

Thank you for taking the time to read this series and for your continued support.

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