Last month’s newsletter article discussed three value-market fundamentals every business should practice in these very challenging times. Let’s expand on these basics starting with the first fundamental:
To develop a totally value-based business to differentiate you from the competition and persuade growing numbers of high value customers there is greater value in your products than that of other competitive products. 
A key word here is “differentiate.” 
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To succeed against stronger, well-financed competition, businesses can attract more customers by giving them better choices (differentiation) for what they purchase. This is where value and value-added come in. Competition, by the way, is much stronger than most people think it is with budgets the way they are.
If you sell to consumers, you are competing with everything they need to purchase or want to purchase. That’s quite a list!
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To attract and keep customers you will be needing every value-added tool available. Why should consumers purchase your perfume or essential oil instead of something else? Can you give them ten reasons why? Twenty?    
Establishing yourself as an expert in Natural Essences within your community is empowering because it gives you the capacity to help your community make the right choices for healthier and safer lifestyles.
Obviously, anyone who wishes to become and continue to be an expert in Natural Essences must have a great deal of accurate knowledge about Natural Essences, which is where the value of continuing education comes in. 
If you are a Natural Perfumer, you also need expertise as an aromatherapist, and the reverse is true for Natural Aromatherapists needing Natural Perfumery. Having knowledge of the history of perfume also has important benefits and needs to be studied. 
Continuing Natural Essences education along with effective messaging of the value of Natural Essences will lead to clear, positive distinctions between your up-to-date expertise and the lack of expertise from your competition.

Three Action Steps to Implement Beginning Today

1. Identify and include in your value proposition all the things you do that make you and the products you sell more valuable to consumers than competitive alternatives. Careful sourcing. Commitment to natural. School accreditations. Certifications. Experience.
2. Keep making yourself and your products more valuable by regularly adding value. Continuing education is a superb way to accomplish this.
3. Focus on being an expert within your local community. Use your continually growing value to effectively communicate your expertise to those who need to know. 

Make no Mistake; Selling to Consumers Today is as Difficult as it Has Ever Been, and it Doesn’t Appear it Will be Easing up Anytime Soon. 
With competition so strong from large brick-and-mortar retailers as well as rapidly growing online retail activity, continued success for high value retailers will increasingly depend following these three basic value-marketing fundamentals:

1. Develop a totally value-based business to differentiate you from the competition and persuade growing numbers of high value customers there is greater value in your products than that of other competitive products. 
2. Target consumers who demand more value, will pay more for receiving value, and if satisfied will repurchase again and again.
3. Follow the New Luxury Code, the most important value-marketing fundamental. 

The New Luxury Code is about recognizing and acknowledging the value of ourselves and the world surrounding us. 
It is a continuing reminder of what is important to respect and why; and because of its importance, the New Luxury Code should be part of the value proposition of everyone involved in the high value essential oil distribution chain community from seeds to consumers.

How Can High Value Retailers Express Their Respect for Consumers?

1. Understand what represents value to them and then provide that value. Consumers want natural products, free from GMO and synthetic chemicals. They also want to know more about who produced their products and whether they were produced sustainably.
2. Always treat customers courteously and professionally, even if you disagree with them. Angry customers tell more of their friends about their negative experiences, as opposed to loyal customers sharing positive stories.
3. Establish yourself as an expert in your community. Education empowers retailers by differentiating them from large, powerful competitors, so educate yourself and then educate the community or communities you serve. 

Make sure your customers and the rest of the high value essential oil distribution chain community get the respect they deserve by following the New Luxury Code.
 
Terry Johnson will be teaching marketing starting February 2022