Creating a value ladder for your small business requires a few steps:
- Identify the overarching value you want to provide to your customer.
- Identify the key steps your customer needs to take to receive the value.
- Identify the small actions you can take to help your customer complete those key steps.
- Identify the value you will offer to the customer at each step along the way.
- Create a list of concrete, repeatable actions you can take to help your customer.
After you’ve finished this process, you’re ready to take action.
How to Create a Value Ladder
Here’s a step-by-step guide to creating your own value ladder:
Step 1: Identify your overarching value.
Think about your business and how it fits into your customers’ lives. What do they really value about your business? If you could make one change to your business to make it more valuable to your customer, what would that change be?
For example, if you own a wedding photography business, you could think about the overarching value you want to provide to your customer. Perhaps you want to be the vendor they go to for engagement photos, the wedding photos, the video, the wedding album, etc.
Step 2: Identify the key steps your customer needs to take to receive that value.
Now that you’ve identified your overarching value and what you want to provide to your customer, think about the specific steps your customer needs to take to get that value.
For example, in the wedding photography example, you could identify the key steps your customer would need to take to receive the value of all the photos you offer. Those steps might include:
- Hiring you.
- Showing up to the engagement session.
- Showing up to the wedding.
- Telling you when they want to see the images.
Step 3: Identify the small actions you can take to help your customer complete those key steps.
Now that you’ve come up with the key steps your customer needs to take to receive your value, think about the small actions you can take to help your customer complete those key steps.
Continuing as a wedding photographer, you could think about the small actions you could take to help your customers complete the key steps mentioned above. Those actions might include:
- Sending a reminder email when it’s time to book.
- Sending a reminder email when it’s time to pay for the engagement session.
- Sending a reminder email when it’s time to pay for the wedding.
- Sending a reminder email when it’s time to receive the photos.
Step 4: Identify the value you will offer to the customer at each step along the way.
Now that you’ve thought about the small actions you can take to help your customer through the key steps, think about the value you can offer at each step along the way.
For example, as a wedding photographer, you could think about the value you could offer to your customers at various steps:
- Engagement session: You could offer a free engagement session.
- Wedding: You could offer a free wedding day timeline.
- Photos: You could offer free print release forms.
- Album: You could offer a discount on the album.
Step 5: Create a list of concrete, repeatable actions you can take to help your customer.
Now that you’ve identified the value you can offer at each step along the way, think about the concrete, repeatable actions you can take to help your customer through the key steps.
For example, again, if you’re a wedding photographer, your small actions could include the following:
- Sending an email when it’s time to book.
- Sending an email when it’s time to pay for the engagement session.
- Sending an email when it’s time to pay for the wedding.
- Sending an email when it’s time to receive the photos.
Keep in mind that you don’t have to offer the value at every single step. You could decide that the small action you take when the customer is ready to receive the photos is enough. You might decide that the small action you take when the customer is ready to receive the photos is enough. However, it’s up to you to make that decision based on your business.
Step 6: Make your value ladder actionable.
Finally, take all of your brainstormed ideas and make them actionable. For example, you could create an email sequence that follows the value ladder. You could also create a checklist that outlines the small actions you could take to help your customers.
Step 7: Set a deadline.
Now that you have a concrete, repeatable action plan for helping your customers, set a solid deadline for each step along the way. Keep in mind that your value ladder will change over time, so revisit it every few months.
Conclusion
A value ladder can be a powerful tool for small business owners. It can help you create a repeatable process for helping your customers and increase customer satisfaction.
To get started, identify the overarching value you want to provide to your customer. Then, identify the key steps your customer will need to take to receive that value. Finally, identify the small actions you can take to help your customer through each step along the way. After that, think about the value you can offer at each step along the way. Finally, create a list of concrete, repeatable actions you can take to help your customer.
Want more small business tips like this? Join my newsletter for more insights.
