Camp or class directors who wear a marketing hat (along with a dozen others) sometimes have trouble keeping up with corporate marketing concepts like power positions,1 value propositions and the value wedge. If your eyes haven’t glazed over yet, you’re further along than many.
Case in point: Value Wedges.
What is a Value Wedge?
To understand a value wedge, think of a word you know and understand well: OVERLAP.
That’s the gist of it!
Every relationship forms because of overlap:
- Couples connect over common interests.
- Friendships endure because of shared experiences.
- Business contracts exist because of an overlap of goods or services with needs or desires.
It’s all about intersections of similarity and differentiation. It’s as simple as this:
And that little wedge is where you focus your marketing messaging!
How to Find New Ways to Overlap
Unfortunately, the overlap between what you deliver to your customers and what your competition offers is sometimes very high. (That’s your Value Parity)
That’s why you may need to get very creative about what you can do for your target customer that your competition can’t or doesn’t do (Value Wedge). When parents are looking at various camps, what do you offer that every other camp doesn’t?
You may need to manufacture those differences on the public-facing end with special campaigns or features. Or maybe just knowing your audience better is all you need.
Our 2016 Parent Survey is chock-full of parent data that can give you a competitive edge for your value wedge.
In our 15-minute Lifecycle Webinar Series, we’re sharing that data as it relates to each stage of your customer’s lifecycle.