three types of digital value that encourage customers to buy //

Digital engagement is becoming more complex. Gartner’s Multichannel Marketing Survey revealed that in 2023, marketers will manage an average of nine channels. The survey also found that 80% digital marketers plan to add new channels in the next year.

Any CMO will tell you that the bulk of marketing is not channel management. The amount of effort that goes into creating content for all channels, assuring consistency and cohesion, targeting customers, and tailoring content specifically to them is also a part of the equation.

Content must provide real value to customers, otherwise marketers run the risk of their content being lost in the shuffle, as customers tune out brands due to the noise they have to deal with every day.

What is a marketer supposed to do now? Most marketers are turning to value in order to capture the attention of their customers. Marketers think that by offering more valuable digital content their brands will receive more attention, more engagement and (a virtuous circle), , and the commercial outcomes digital should deliver. More purchases, an increase in purchase frequency and customer advocacy are all examples of things that marketers believe will happen if they offer more valuable digital content.

Gartner’s research found that 73% customers who remember a recent digital experience say they were valuable. There’s one catch, however: Only 5% of B2B and 5% of consumer buyers remember the digital interactions that they had recently with brands. Even if customers value and remember their digital interactions with you, these experiences are unlikely to generate business value. Sixty seven percent of CFOs believe that digital initiatives, particularly those aimed at increasing customer engagement and business growth, do not meet expectations.

Use value framing and content that affirms values

It turns out that the answer lies in the typeof content that a marketer communicates, rather than how much valueis communicated or how quickly and seamlessly marketers communicate. Most marketers aren’t hitting the value bullseye.

Value can be categorized into “affirming value” or “framing value”. The “framing” of value is a way to help customers better understand a product, solution, goal or decision. It helps them decide what they should do. “Affirming value” helps customers feel confident that they are getting value from a decision (including the decision to purchase). Great marketing is a way to answer the questions of the customer, “What should I be doing?” and “Did it work out well?”

After a marketer has committed to affirming, framing, or both, they need to communicate three additional value levels: functional, catalytic, and personal.

• Functionalvalue focuses on the product. Content, experiences and tools are what educate customers about the brand’s solutions and products.
• Personalvalue can help customers find common ground with others, or to consider how others have solved a problem. This in turn can help them make their own choice. It can also help customers find the best product to meet a specific need, allowing them to feel confident in their decision.
• Catalyticvalue goes beyond the customer’s choice or task to focus on the customer’s overarching goal and the path to that goal. Digital content, tools and experiences that are catalytic support the following: self-discovery, self-reflection, agency, and affirmation.

Catalytic value is by far the most potent of the three. A single catalytic experience can double the likelihood that a customer will make a purchase, pay a premium or refer other potential customers to a particular brand. This is more powerful than 100 valuable or memorable experiences (even when they are of high value).

(Source Gartner December 2022).

This raises the question: Should every digital engagement be catalytic? Perhaps not. Although catalytic experiences can be powerful, functional and personal values also contribute to commercial success. In fact, many brands that deliver great catalytic values also deliver functional and personal value.

Gartner studied a brand of running shoes that launched a quiz recently to help customers choose the right shoe for their needs. The tool asks the customer about their goals and prompts reflection about how they run. The tool asks customers about their goals and prompts self-reflection on how they run (e.g. This self-reflection can provide catalytic value to customers, helping them set new goals and find new paths. The quiz can help customers create a new training plan to prepare for a 5k race, and realize that the cheapest shoes are not always the best choice.

It also delivers personal value, as customers are guided to the best product for their specific needs. It also delivers some value through education, such as the fact that there are road shoes and trails shoes, and they serve different purposes and “solve” a different problem.

Brands can now educate customers about their products and product categories, what to buy, how to buy, and about themselves at the same time.

Great marketing encourages customers to make decisions that they are proud of, so that they can do the things which matter to them. Framing and affirming values are two sides to the same coin. Within that construct, there are three levels of value that are valid ways to generate value for customers and commercial value for brands.

Marketers might want to reassess their balance of value across digital engagements. If you aren’t doing catalytic value, where can you start? CMOs that deliver all three levels will drive digital revenue growth and boost customer confidence in an increasingly complex and saturated digital landscape.

The article Three types of digital value that encourage customers to buy first appeared on MarTech.