Terms

Value Statement

A value statement is a set of ideals that outlines the specific principles and morals guiding a company's decisions and operations. It serves as a foundational guide for employees and informs customers about what the business prioritizes. These values shape the company culture and provide a framework for everything from strategic planning to daily interactions.

Importance of a Value Statement

A value statement is the bedrock of a company's culture, aligning the entire team around shared goals. It acts as a compass for decision-making, from hiring new talent to navigating business challenges. This alignment fosters a positive and collaborative work environment where everyone is on the same page.

Externally, a clear value statement differentiates a brand in a crowded marketplace. It helps attract customers and partners who share similar principles, building loyalty and trust. This foundation also guides how the company interacts with its community and stakeholders.

Crafting an Effective Value Statement

Crafting an effective value statement is a reflective process that requires deep thought about your company's core identity. It's about defining the principles that will guide every decision. Involving your team is crucial to ensure the values are authentic and resonate throughout the organization.

  • Collaboration: Involve team members at all levels to ensure buy-in and authenticity.
  • Clarity: Use simple, jargon-free language that is easy for everyone to understand.
  • Specificity: Avoid generic platitudes; your values should be unique to your company's mission and culture.
  • Actionability: Ensure values can be translated into tangible behaviors and daily operations.

Value Statement vs. Mission Statement

While both are foundational, value and mission statements serve distinct purposes in guiding a company.

  • Value Statement: Focuses on the 'how'—the core principles guiding company culture and daily decisions. It excels at aligning teams and attracting talent but can feel disingenuous if not backed by action. Enterprises and mid-market firms use it to build a strong, unified culture and differentiate themselves based on their ethical stance.
  • Mission Statement: Defines the 'what'—a company's core objectives and purpose. It provides clear direction for strategic planning but can become outdated or too broad. It's preferred when companies need to articulate their primary goals to stakeholders and guide high-level resource allocation during periods of growth or change.

Examples of Value Statements

Value statements vary widely, from single words to detailed principles. They reflect a company's unique culture and priorities, guiding behavior and decision-making across the organization. Here are a few common examples of what these values can look like in practice.

  • Customer-Centricity: Placing the customer at the core of every decision and action.
  • Innovation: Fostering a culture of creativity and forward-thinking to drive progress.
  • Integrity: Upholding the highest ethical standards in all of our interactions.

Impact of Value Statements on Organizations

Value statements serve as a company's north star, profoundly shaping its culture, guiding decisions, and defining its identity.

  • Culture: Fosters teamwork and aligns employees with shared principles.
  • Decisions: Provides a framework for strategic choices and daily operations.
  • Reputation: Differentiates the brand and builds trust with customers.

Frequently Asked Questions about Value Statement

How often should a company revisit its value statement?

Revisit your value statement every 3-5 years or during major business shifts. This ensures it remains relevant and aligned with your company's evolving strategic direction, preventing it from becoming outdated or misaligned with your current operations and long-term goals.

How do you ensure a value statement is more than just words on a wall?

Integrate values into daily operations, including hiring criteria, performance reviews, and leadership decision-making. When employees see values consistently applied and rewarded, the statement becomes a living guide for behavior rather than just a corporate platitude.

What's the difference between company values and company culture?

Values are the principles you aspire to, acting as the blueprint for your ideal culture. Culture is the reality—the actual behaviors, attitudes, and environment within your organization. A strong culture emerges when your stated values are consistently put into practice.

Other terms

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Direct Mail

Direct mail is a marketing method where businesses send physical promotional materials directly to potential customers' mailboxes.

Direct Mail

Omnichannel Sales

Omnichannel sales is a strategy that integrates all physical and digital sales channels to create a seamless, unified customer experience.

Omnichannel Sales

Triggered Email

A triggered email is an automated message sent to a user in response to a specific action or event, like signing up or making a purchase.

Triggered Email

CRM Analytics

CRM analytics is the process of analyzing data from your CRM to uncover insights that help you better understand and serve your customers.

CRM Analytics

OAuth

OAuth is an open standard for access delegation. It lets you grant apps access to your data on other services without sharing your password.

OAuth

Sales Prospecting Software

Sales prospecting software automates the process of finding, contacting, and tracking potential customers to help sales teams build their pipeline.

Sales Prospecting Software

Demand Capture

Demand capture is the strategy of engaging potential customers who are already actively looking for a solution that your company provides.

Demand Capture

Sales Plan Template

A sales plan template is a reusable document that outlines your sales strategy, goals, and tactics, providing a clear roadmap for your team.

Sales Plan Template

Pay-per-Click (PPC)

Pay-per-click (PPC) is an ad model where you pay a fee each time your ad is clicked. It's a method of buying targeted visits to your website.

Pay-per-Click (PPC)

Channel Partners

Channel partners are third-party firms that help market and sell a company's products or services, acting as an indirect sales force.

Channel Partners

Responsive Design

Responsive design is an approach where a website's layout adapts to the user's screen size, providing an optimal experience on any device.

Responsive Design

Data-Driven Marketing

Data-driven marketing uses customer data to inform marketing decisions, optimize campaigns, and deliver personalized experiences to consumers.

Data-Driven Marketing

Gamification

Gamification applies game mechanics like points, badges, and leaderboards to non-game activities to boost engagement and motivate users.

Gamification

Buyer Intent

Learn about buyer intent, including understanding buyer intent signals, strategies to capture buyer intent, & buyer intent vs. customer interest.

Buyer Intent

Account Development Representative

An Account Development Representative (ADR) identifies and qualifies new business opportunities, creating a pipeline for account executives.

Account Development Representative

Jobs to Be Done Framework

The Jobs to Be Done (JTBD) framework focuses on understanding customer needs by identifying the specific 'job' they are trying to accomplish.

Jobs to Be Done Framework

Sales Operations Key Performance Indicators

Sales Operations KPIs are measurable metrics that track the efficiency and effectiveness of a sales team's operational processes.

Sales Operations Key Performance Indicators

Sales Sequence

A sales sequence is a series of automated touchpoints sent to prospects over time to guide them through the sales funnel.

Sales Sequence

Internal signals

Internal signals are data points from your own systems, like website visits or product usage, that indicate a customer's buying intent.

Internal signals

Sales Rep Training

Sales rep training is the process of equipping your sales team with the skills, knowledge, and tools to effectively sell and hit their targets.

Sales Rep Training

Firmographics

Firmographics are descriptive attributes of organizations, used to segment companies by characteristics like industry, size, and location.

Firmographics

Analytics Platforms

Analytics platforms are tools that collect and analyze data from various sources, helping businesses track key metrics and make informed decisions.

Analytics Platforms

Target Account List

A Target Account List (TAL) is a focused list of high-value companies that a business specifically aims to convert into customers.

Target Account List

Hybrid Sales Model

A hybrid sales model blends traditional and digital sales methods to engage customers across multiple channels and buying preferences.

Hybrid Sales Model

Sales and Marketing Alignment

Sales and marketing alignment means both teams work in sync, sharing goals and data to boost lead quality, conversions, and company revenue.

Sales and Marketing Alignment

Unit Economics

Unit economics are the direct revenues and costs of a business calculated on a per-unit basis, revealing its fundamental profitability.

Unit Economics

Low-Hanging Fruit

Low-hanging fruit are the most obvious and easy-to-tackle tasks or goals that provide a quick, valuable return for minimal effort.

Low-Hanging Fruit

Proof of Concept

A Proof of Concept (PoC) is a small exercise to test whether a business idea or project is technically feasible and has real-world potential.

Proof of Concept

Business to customer

Learn about business to customer, including maximizing B2C sales strategies, B2C vs. B2B: unveiling differences, & core principles of B2C success.

Business to customer

Integration Testing

Integration testing is a software testing phase where individual modules are combined and tested together to verify their interaction.

Integration Testing

Sales Development

Sales development is the process of identifying and qualifying potential customers to create a pipeline of sales-ready leads for closers.

Sales Development

Sender Policy Framework

Sender Policy Framework (SPF) is an email authentication method that lets you specify which mail servers can send emails on behalf of your domain.

Sender Policy Framework

Sales Funnel

A sales funnel is a model illustrating the customer's journey from initial awareness to the final purchase, narrowing down leads at each stage.

Sales Funnel

Net New Business

Net new business is revenue from customers who have never purchased from your company before. It’s a crucial indicator of sustainable growth.

Net New Business

Stress Testing

Stress testing is a type of software testing that determines a system's robustness by pushing it beyond its normal operational capacity.

Stress Testing

Siloed

Siloed describes the isolation of data, teams, or systems within a company, which blocks collaboration and creates operational bottlenecks.

Siloed

Mobile Compatibility

Mobile compatibility ensures your site or app works flawlessly on mobile devices, like smartphones and tablets, for a seamless user experience.

Mobile Compatibility

Fault Tolerance

Fault tolerance is a system's ability to continue operating without interruption when one or more of its components fail.

Fault Tolerance

Value-Added Reseller

A Value-Added Reseller (VAR) is a company that adds features or services to an existing product, then resells it as an integrated solution.

Value-Added Reseller

Contract Management

Contract management is the process of creating, executing, and analyzing contracts to maximize performance and minimize financial risk.

Contract Management

B2B Data Platform

Learn about B2B data platform, including key benefits of B2B data platforms, choosing the right B2B data platform, challenges in implementing B2B data platforms.

B2B Data Platform

CRM Enrichment

CRM enrichment is the process of adding third-party data to your existing customer profiles to make them more complete and accurate.

CRM Enrichment

Buyer

Learn about buyer, including identifying your ideal buyer, understanding buyer's journey, & evaluating buyer decision processes.

Buyer

Electronic Signatures

An electronic signature is a digital method for getting consent on electronic documents. It's a legally binding way to sign agreements online.

Electronic Signatures

Fulfillment Logistics

Fulfillment logistics is the entire process of getting an order to a customer, from storing inventory to picking, packing, and final shipment.

Fulfillment Logistics

Shipping Solutions

Shipping solutions are services or software that streamline the logistics of getting products to customers, from label printing to final delivery.

Shipping Solutions

Discount Strategies

Discount strategies are pricing tactics used to attract customers and boost sales by temporarily reducing the price of products or services.

Discount Strategies

Prospecting

Prospecting is the process of identifying potential customers, or prospects, to build a sales pipeline and generate new business opportunities.

Prospecting

De-dupe

De-duping, or data deduplication, is the process of eliminating duplicate copies of data within a dataset to improve accuracy and save space.

De-dupe

C-Level or C-Suite

The C-suite, or C-level, refers to a company's most senior executives. Their titles usually start with 'Chief,' such as CEO, CFO, or CTO.

C-Level or C-Suite

Gated Content

Gated content is premium online material, like an ebook or webinar, that users can only access after providing their contact information.

Gated Content

Sales Enablement Platform

A sales enablement platform centralizes content, training, and analytics to help sales teams engage buyers and effectively close deals.

Sales Enablement Platform

Serviceable Obtainable Market

Serviceable Obtainable Market (SOM) is the portion of the market you can realistically capture with your current resources, sales, and marketing.

Serviceable Obtainable Market

Elevator Pitch

An elevator pitch is a short, memorable summary of what you do, designed to be delivered in the time it takes to ride an elevator.

Elevator Pitch

Inbound leads

Inbound leads are potential customers who proactively reach out after finding your business through content, social media, or search.

Inbound leads

Conversion Rate

Conversion rate is the percentage of visitors who complete a desired goal, like a purchase or sign-up, out of the total number of visitors.

Conversion Rate

Outside Sales

Outside sales reps sell products/services in person, traveling to meet clients and close deals face-to-face, outside of a traditional office.

Outside Sales

Event Marketing

Event marketing is a strategy where brands engage directly with target audiences through live events like trade shows, conferences, or webinars.

Event Marketing

Closed Question

A closed question is a type of query that elicits a simple, often one-word answer like 'yes' or 'no,' or a specific, factual response.

Closed Question

Commission

A commission is a service charge paid to an agent for a transaction. It's typically a percentage of the sale, rewarding performance directly.

Commission

Sales Pipeline Velocity

Sales pipeline velocity is a metric that measures how quickly deals move through your sales funnel to generate revenue for your business.

Sales Pipeline Velocity

Lead Velocity Rate

Lead Velocity Rate (LVR) is the growth rate of your qualified leads, measured month-over-month. It's a key indicator of future revenue.

Lead Velocity Rate

No Spam

“No Spam” is a commitment to sending only relevant, solicited messages. It means avoiding bulk, unwanted emails to respect the recipient's inbox.

No Spam

Forward Revenue

Forward revenue is the total value of all active, committed contracts that are expected to be recognized as revenue in the future.

Forward Revenue

Consumer

A consumer is an individual or entity that buys products or services for personal use, not for resale. They are the final user in a supply chain.

Consumer

Sales Territory

A sales territory is a specific group of customers or a geographic area that a salesperson or sales team is responsible for managing.

Sales Territory

NoSQL

NoSQL ("Not only SQL") databases offer a flexible alternative to relational models, excelling at managing large and unstructured data sets.

NoSQL

Dark Funnel

The Dark Funnel describes customer buying activities that are untrackable by companies, such as private chats and word-of-mouth referrals.

Dark Funnel

B2B Sales Process

Learn about B2B sales process, including key components of B2B sales processes, & crafting an effective B2B sales strategy.

B2B Sales Process

Accessibility Testing

Accessibility testing is a software testing method that verifies an application is usable by people with disabilities, like vision or hearing loss.

Accessibility Testing

XML

XML (Extensible Markup Language) is a markup language for encoding documents in a format that is both human-readable and machine-readable.

XML

Sales Dialer

A sales dialer is software that automates outbound calling for sales teams, allowing reps to connect with more prospects in less time.

Sales Dialer

Average Revenue per Account

Average Revenue per Account (ARPA) is the average revenue generated from each customer account, usually measured on a monthly or annual basis.

Average Revenue per Account

Enterprise Resource Planning

Enterprise Resource Planning (ERP) is a system of integrated software that businesses use to manage and automate their core day-to-day processes.

Enterprise Resource Planning

Lead Generation Tactics

Lead generation tactics are the strategies and methods used to attract potential customers and convert them into leads for your sales team.

Lead Generation Tactics

Soft Sell

A soft sell is a low-pressure sales tactic that uses subtle persuasion and relationship-building to gently guide customers toward a purchase.

Soft Sell

Dialer

A dialer is software that automatically dials phone numbers for agents, boosting call efficiency and connecting them to live prospects faster.

Dialer

Call for Proposal

A Call for Proposal (CFP) is a document that solicits proposals, often through a bidding process, for a specific project or service.

Call for Proposal

Data Hygiene

Data hygiene is the practice of ensuring your customer data is clean, accurate, and up-to-date by removing duplicates and correcting errors.

Data Hygiene

Buyer Behavior

Learn about buyer behavior, including understanding the buyer's journey, influencing factors in buyer behavior, & buyer behavior and marketing strategy.

Buyer Behavior

Price Optimization

Price optimization is the process of finding the ideal price for a product or service to maximize profitability or other business objectives.

Price Optimization

Psychographics

Psychographics categorizes people by their attitudes, interests, and lifestyles, revealing the 'why' behind their purchasing decisions.

Psychographics

Search Engine Results Page

A Search Engine Results Page (SERP) is the page displayed by a search engine after a user enters a query, listing results ranked by relevance.

Search Engine Results Page

Zero-Based Budgeting (ZBB)

Zero-based budgeting (ZBB) is a method where all expenses are re-evaluated and must be justified from scratch for each new budget period.

Zero-Based Budgeting (ZBB)

Sales Partnerships

Sales partnerships are strategic alliances where two companies co-sell products to expand their reach, generate new leads, and increase revenue.

Sales Partnerships

Data Warehousing

Data warehousing is the process of storing and managing large sets of data from various sources for business intelligence and reporting purposes.

Data Warehousing

Compounded Annual Growth Rate

Compounded Annual Growth Rate (CAGR) measures the mean annual growth of an investment over a specified period of time longer than one year.

Compounded Annual Growth Rate

Data Mining

Data mining is the process of discovering patterns, trends, and useful information from large datasets to make better business decisions.

Data Mining

Buyer Intent Data

Learn about buyer intent data, including sourcing and interpreting buyer intent data, & key metrics in buyer intent analysis.

Buyer Intent Data

Customer Lifecycle

The customer lifecycle is the journey a person takes from first becoming aware of your brand to becoming a loyal, repeat customer.

Customer Lifecycle

Renewal Rate

Renewal rate is the percentage of customers who renew their subscriptions or contracts at the end of their service period.

Renewal Rate

Inbound Sales

Inbound sales attracts interested prospects who've engaged with your brand, letting sales reps connect with warm leads instead of cold outreach.

Inbound Sales

Sales Acceleration

Sales acceleration refers to strategies and technologies designed to speed up the sales cycle, enabling reps to close more deals, faster.

Sales Acceleration

Time on Site

Time on site, or session duration, is a key web metric that tracks the total time a visitor spends on your website during a single visit.

Time on Site

Freemium Models

A freemium model offers a product's basic features for free, enticing users to upgrade to a paid version for more advanced capabilities.

Freemium Models

LPI

LPI, or Lead Per Inquiry, is a key metric that measures how many leads are generated from each inquiry in a marketing campaign.

LPI

Sales Demonstration

A sales demonstration is a presentation showing a prospect how a product or service works and how it can solve their specific problems.

Sales Demonstration

Bulk Application Programming Interface

Learn about bulk API, including how it works, the advantages of using it, common use cases, and tips for optimizing it.

Bulk Application Programming Interface

Freemium

Freemium is a business model offering a product's basic features for free, while charging for advanced or supplemental features.

Freemium

Contact Data

Contact data is the set of details, like names, emails, and phone numbers, used to get in touch with a person or business for outreach.

Contact Data