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 It provides clear direction for strategic planning but can become outdated or too broad.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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Objection Handling in Sales

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Objection Handling in Sales

NoSQL

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NoSQL

Cohort Analysis

Cohort analysis is a behavioral analytics tool that groups users with common traits to track their actions and engagement over time.

Cohort Analysis

Bounce Rate

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Bounce Rate

Sales Engineer

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Sales Engineer

Contact Discovery

Contact discovery is the process of finding accurate contact details for potential leads, including names, emails, phone numbers, and job titles.

Contact Discovery

System of Record

A System of Record (SoR) is the authoritative data source for a specific type of data. It acts as the single source of truth for an organization.

System of Record

User-generated Content

User-generated content (UGC) refers to any form of content, like images, videos, or text, created and shared by users on online platforms.

User-generated Content

Webhooks

Webhooks are automated messages sent by an app when a specific event occurs. They push real-time data to another app's unique URL.

Webhooks

Application Performance Management

Application Performance Management (APM) monitors and manages an application's performance, availability, and the experience of its end-users.

Application Performance Management

Account-Based Everything

Account-Based Everything (ABE) is a strategy aligning sales, marketing, and success teams to focus on a specific set of high-value accounts.

Account-Based Everything

Letter of Intent

A Letter of Intent (LOI) is a document declaring the preliminary commitment of one party to do business with another, outlining the chief terms.

Letter of Intent

ABM Orchestration

ABM orchestration aligns marketing and sales actions across channels to deliver seamless, personalized experiences to high-value accounts.

ABM Orchestration

Accounts Payable

Accounts Payable (AP) is the money a company owes its suppliers for goods or services bought on credit. It's listed as a current liability.

Accounts Payable

Video Selling

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Video Selling

Docker

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Content Management System

A Content Management System (CMS) is software for creating, managing, and modifying website content without needing specialized technical skills.

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Warm Outbound

Warm outbound is a sales strategy for contacting prospects who've shown interest in your brand through prior engagement, like website visits.

Warm Outbound

Sales Objections

Sales objections are reasons or concerns raised by a potential customer as to why they are hesitant or unwilling to make a purchase.

Sales Objections

Headless CMS

A headless CMS is a back-end content repository that delivers content via API to any front-end, decoupling the content from its presentation layer.

Headless CMS

No Cold Calls

No Cold Calls is a sales strategy that replaces unsolicited calls with warm outreach to prospects who have already demonstrated interest.

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Customer Data Platform (CDP)

A Customer Data Platform (CDP) centralizes customer data from all sources to create a complete, unified profile for each individual customer.

Customer Data Platform (CDP)

SFDC

SFDC stands for Salesforce Dot Com, a popular cloud-based CRM platform that helps companies manage their customer interactions and data.

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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.

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Sandboxes

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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.

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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

Consultative Selling

Consultative selling is an approach where salespeople act as expert advisors, diagnosing customer needs to provide the most suitable solutions.

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Customer Acquisition Cost

Customer Acquisition Cost (CAC) is the total cost a business spends to gain a new customer. It includes all sales and marketing expenses.

Customer Acquisition Cost

Content Rights Management

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Content Rights Management

Programmatic Display Campaign

Programmatic display campaigns use automation to buy and sell digital ad space in real-time, targeting specific audiences across the web.

Programmatic Display Campaign

Customer Relationship Marketing

Customer relationship marketing is a strategy for building lasting connections with customers to foster long-term loyalty and engagement.

Customer Relationship Marketing

Buying Signal

A buying signal is any action from a prospect that indicates they are interested in making a purchase, helping sales teams prioritize leads.

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Account-Based Selling

Account-Based Selling is a B2B strategy where sales and marketing treat high-value accounts as markets of one, using personalized outreach.

Account-Based Selling

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

GPCTBA/C&I

GPCTBA/C&I is a sales qualification framework for understanding a prospect's goals, plans, challenges, timeline, budget, and authority.

GPCTBA/C&I

Demand

Demand is the economic principle describing a consumer's desire and willingness to purchase a specific good or service at a particular price.

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Marketing Qualified Account

A Marketing Qualified Account (MQA) is a target company that has shown significant engagement, indicating it's ready for the sales team to pursue.

Marketing Qualified Account

Performance Plan

A performance plan is a formal document outlining an employee's goals, expectations, and metrics for success over a specific period.

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Competitive Analysis

Competitive analysis means identifying your rivals and assessing their strategies to pinpoint your own business's strengths and weaknesses.

Competitive Analysis

SEO

SEO, or Search Engine Optimization, is increasing the quantity and quality of traffic to your website through organic search results.

SEO

Lead Generation

Lead generation is the process of identifying and cultivating potential customers for a business's products or services.

Lead Generation

Progressive Web Apps

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Voice Broadcasting

Voice broadcasting is an automated system that delivers a pre-recorded voice message to a large list of phone numbers simultaneously.

Voice Broadcasting

Account Development Representative

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

Account Development Representative

Ideal Customer Profile

An Ideal Customer Profile (ICP) is a detailed description of the perfect, hypothetical company that would get the most value from your product.

Ideal Customer Profile

Marketing Attribution Model

A marketing attribution model is a framework for assigning credit to the marketing touchpoints that lead a customer to convert.

Marketing Attribution Model

Net Revenue Retention (NRR)

Net Revenue Retention (NRR) is the percentage of recurring revenue kept from existing customers, including upsells, downgrades, and churn.

Net Revenue Retention (NRR)

Representational State Transfer Application Programming Interface

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Sales and Marketing Analytics

Sales and marketing analytics involves measuring and analyzing performance data to maximize effectiveness and optimize return on investment (ROI).

Sales and Marketing Analytics

Sales Enablement

Sales enablement provides sales teams with the necessary tools, content, and information to help them sell more effectively and efficiently.

Sales Enablement

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.

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Intent Data

Intent data tracks a user's online behavior—like searches and site visits—to identify signals that they are ready to make a purchase.

Intent Data

Order Management

Order management is the end-to-end process of tracking customer orders from placement to fulfillment, ensuring a seamless customer experience.

Order Management

Sales Pipeline

A sales pipeline is a visual representation of where prospects are in the sales process, from the first contact to the final sale.

Sales Pipeline

Affiliate Marketing

Affiliate marketing is a performance-based model where affiliates earn a commission for promoting another company’s products or services.

Affiliate Marketing

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

Point of Contact

A Point of Contact (POC) is the designated individual or department that serves as the main hub for information and communication on a matter.

Point of Contact

FAB Technique

The FAB technique is a sales framework connecting product features to advantages and then to the specific benefits for the customer.

FAB Technique

Chatbots

Chatbots are AI-powered programs that simulate human conversation. They interact with users via text or voice, typically for customer support.

Chatbots

Buyer Intent Data

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

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Lead Enrichment Tools

Lead enrichment tools are platforms that automatically add missing data to your leads, like contact info, firmographics, and buying signals.

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Sales Intelligence Platform

A sales intelligence platform is software that provides sales teams with data and insights about prospects to help them sell more effectively.

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Sales Dashboard

A sales dashboard is a visual tool that centralizes and displays key sales data, metrics, and KPIs to help teams track performance and goals.

Sales Dashboard

Business Continuity

Learn about business continuity, including understanding key components, steps to ensure continuity, common challenges, & best practices.

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Inside Sales

Inside sales is a remote sales process where reps sell products or services via phone, email, and other digital tools instead of in person.

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Sales Development Representative (SDR)

A Sales Development Representative (SDR) is a sales specialist who finds and qualifies new leads, building a pipeline for the sales team.

Sales Development Representative (SDR)

Persona-Based Marketing

Persona-based marketing uses fictional customer profiles, or personas, to create targeted messaging for specific audience segments.

Persona-Based Marketing

Lead Generation Funnel

A lead generation funnel is a systematic process that guides potential customers from initial awareness of your brand to becoming qualified leads.

Lead Generation Funnel

Cross-Selling

Cross-selling is a sales tactic of encouraging customers to purchase products or services that are related to what they're already buying.

Cross-Selling

Mid-Market

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Programmatic Advertising

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Single Sign-On (SSO)

Single Sign-On (SSO) is an authentication method allowing users to access multiple applications with one set of login credentials.

Single Sign-On (SSO)

Event Tracking

Event tracking is the method of collecting data on specific user actions, or 'events,' on a website or app, such as clicks or downloads.

Event Tracking

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

AI Sales Script Generator

An AI sales script generator is a tool that uses artificial intelligence to create personalized sales scripts for any outreach scenario.

AI Sales Script Generator

Lead Routing

Lead routing is the automated process of distributing incoming leads to the right sales reps based on predefined criteria.

Lead Routing

Total Addressable Market (TAM)

Total Addressable Market (TAM) represents the maximum revenue a company can earn by selling its product or service in a specific market.

Total Addressable Market (TAM)

Data Appending

Data appending is the process of adding new data fields to your existing database records to enrich and complete your information.

Data Appending

Qualified Lead

A qualified lead is a prospect vetted as a good fit for your product. They match your ideal customer profile and show genuine interest.

Qualified Lead

Retargeting Marketing

Retargeting marketing is a digital advertising strategy that targets users who have previously interacted with your website or brand online.

Retargeting Marketing

Gamification

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

Gamification

Product Recommendations

Product recommendations are a marketing strategy that uses customer data to suggest relevant products, boosting sales and customer engagement.

Product Recommendations

End of Quarter

“End of Quarter” (EOQ) refers to the final weeks of a business quarter when sales teams rush to meet quotas, often leading to a flurry of deals.

End of Quarter

White Label

White labeling is when a company puts its own branding on a product or service that was actually produced by a different company.

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Marketo

Marketo is a marketing automation platform used by B2B marketers to manage lead generation, nurturing, email marketing, and analytics.

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Ramp Up Time

Ramp-up time is the period a new hire takes to get fully up to speed and become a productive member of your go-to-market team.

Ramp Up Time

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

Scrum

Scrum is an agile framework that helps teams structure and manage their work through a set of values, principles, and practices.

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Lead Qualification

Lead qualification is the process of determining which prospects are most likely to become paying customers based on predefined criteria.

Lead Qualification

Lead Scrape

Lead scraping is the process of automatically extracting contact information and other relevant data about potential customers from online sources.

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Sales Calls

A sales call is a real-time conversation between a salesperson and a prospect, aiming to persuade them to purchase a product or service.

Sales Calls

Landing Pages

A landing page is a standalone web page created for a marketing campaign. It’s where a visitor “lands” after clicking an ad or email link.

Landing Pages

Consumer Relationship Management

Consumer Relationship Management (CRM) is a strategy for managing all of a company's relationships and interactions with its customers.

Consumer Relationship Management

Lead Generation Software

Lead generation software helps businesses automate finding and capturing potential customers' contact information to build sales pipelines.

Lead Generation Software

Marketing Operations

Marketing Operations (MOps) is the engine of a marketing team, managing the technology, processes, and people to run campaigns effectively.

Marketing Operations

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

Average Revenue per User

Average Revenue per User (ARPU) is a key performance indicator that calculates the average revenue generated from each user or subscriber.

Average Revenue per User

Canary Releases

A canary release is a deployment strategy where new software is rolled out to a small user group first, minimizing risk before a full release.

Canary Releases

Lead Nurturing

Lead nurturing is the process of developing and reinforcing relationships with buyers at every stage of the sales funnel.

Lead Nurturing