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 It provides clear direction for strategic planning but can become outdated or too broad.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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Psychographics

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

Psychographics

No Cold Calls

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

No Cold Calls

Buying Intent

Buying intent is the collection of online cues and behaviors that signal a prospect is actively researching and moving toward a purchase decision.

Buying Intent

Video Selling

Video selling uses personalized video messages to engage prospects, build rapport, and guide them through the sales funnel to close more deals.

Video Selling

Customer Retention

Customer retention refers to the strategies and activities a company uses to prevent customer churn and encourage them to continue buying.

Customer Retention

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

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

Request for Information

A Request for Information (RFI) is a formal process for gathering information from potential suppliers before issuing a more detailed proposal.

Request for Information

Customer Buying Signals

Customer buying signals are the actions, behaviors, or statements a prospect makes that indicate they are moving towards a purchase decision.

Customer Buying Signals

Cold Email

A cold email is an initial outreach sent to a potential customer with whom you've had no prior contact, aiming to introduce your business.

Cold Email

Email Personalization

Email personalization uses subscriber data—like their name, interests, or past behavior—to create highly relevant and targeted email campaigns.

Email Personalization

Sales Coach

A sales coach is a mentor who trains and guides sales reps to enhance their skills, boost performance, and ultimately close more deals effectively.

Sales Coach

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

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

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

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

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.

Buying Signal

Expansion Revenue

Expansion revenue is the extra money a business makes from its current customers via upgrades, new products, or additional services.

Expansion Revenue

Firmographic Data

Firmographic data is information used to classify firms. It includes attributes like industry, employee count, location, and annual revenue.

Firmographic Data

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

Lead List

A lead list is a curated database of potential customers (leads) with contact information and other key data for sales and marketing outreach.

Lead List

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

SAM

Serviceable Addressable Market (SAM) is the portion of the market your business can realistically serve with its current products and sales channels.

SAM

Account Development Representative

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

Account Development Representative

Competitive Analysis

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

Competitive Analysis

API

An API (Application Programming Interface) is a software intermediary that allows two applications to talk to each other and exchange information.

API

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

Network Monitoring

Network monitoring is the continuous process of tracking a computer network's performance and health to detect and resolve issues proactively.

Network Monitoring

Performance Plan

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

Performance Plan

Generic Keywords

Generic keywords are broad search terms that lack specific details like brand or location. They attract a wide audience with less specific intent.

Generic Keywords

Buying Criteria

Buying criteria are the specific requirements and standards a customer uses to evaluate products or services before making a decision.

Buying Criteria

Buyer’s Remorse

Buyer’s remorse is the sense of regret or anxiety that can arise after making a purchase, often questioning if it was the right decision.

Buyer’s Remorse

Messaging Strategy

A messaging strategy defines what your brand says, how it says it, and where it says it to connect effectively with your target audience.

Messaging Strategy

Firmographics

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

Firmographics

B2B Data Enrichment

Learn about B2B data enrichment, including benefits of B2B data enrichment, implementing B2B data enrichment strategies, B2B data enrichment vs. data cleaning.

B2B Data Enrichment

Marketing Automation Platform

A marketing automation platform is software that automates marketing actions. It helps manage tasks like email campaigns and lead nurturing.

Marketing Automation Platform

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

Cold Calling

Cold calling is a sales tactic where reps contact potential customers by phone who haven't previously expressed interest in their product or service.

Cold Calling

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

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

Closed Won

Closed Won is a CRM status for a sales deal that has been successfully concluded, resulting in a signed contract and a new customer.

Closed Won

B2C2B

Learn about B2C2B, including how B2C2B transforms sales, key strategies for B2C2B success, & differences between B2C2B and B2B2C.

B2C2B

Product Champion

A product champion is an internal evangelist who drives a product's adoption and success by ensuring it solves real problems for their team.

Product Champion

Employee Engagement

Employee engagement is the emotional commitment an employee has to their organization, motivating them to contribute to the company's success.

Employee Engagement

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

Social Proof

Social proof is a psychological phenomenon where people assume the actions of others reflect correct behavior for a given situation.

Social Proof

Enterprise

An enterprise is a large-scale organization, often a corporation, defined by its complex structure and substantial number of employees.

Enterprise

Lead Generation Software

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

Lead Generation Software

Customer Relationship Management Systems

A Customer Relationship Management (CRM) system is a tool that centralizes customer data to help manage interactions and nurture relationships.

Customer Relationship Management Systems

Bottom of the Funnel

Learn about bottom of the funnel, including maximizing conversions at the funnel's end, & strategies for nurturing bottom-funnel leads.

Bottom of the Funnel

Account Mapping

Account mapping is comparing your customer list with a partner's to find common prospects and unlock new sales opportunities.

Account Mapping

X-Sell

X-Sell, or cross-selling, is a sales strategy of selling additional, related products or services to an existing customer base.

X-Sell

Key Accounts

Key accounts are a company's most valuable customers, vital due to their significant revenue contribution and strategic importance for growth.

Key Accounts

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

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

Lead Routing

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

Lead Routing

Applicant Tracking System

An Applicant Tracking System (ATS) is a software application that manages your entire hiring and recruitment process from a single dashboard.

Applicant Tracking System

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)

Lead Enrichment Tools

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

Lead Enrichment Tools

Revenue Forecasting

Revenue forecasting is the process of estimating a company's future revenue, using historical data and market trends to guide strategic planning.

Revenue Forecasting

Awareness Buying Stage

The awareness stage is the first step in the buyer's journey, where a potential customer realizes they have a problem or an opportunity to explore.

Awareness Buying Stage

NoSQL

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

NoSQL

RESTful API

A RESTful API is a web service interface that uses HTTP requests to access and use data, adhering to the constraints of REST architecture.

RESTful API

Sales Operations Analytics

Sales operations analytics is the practice of analyzing sales data to improve the efficiency and effectiveness of the entire sales process.

Sales Operations Analytics

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

Sales Kickoff

A sales kickoff (SKO) is an annual event for a sales team to celebrate wins, align on goals, and get motivated for the upcoming year.

Sales Kickoff

Outbound Lead Generation

Outbound lead generation means proactively reaching out to potential customers who haven't yet expressed interest to introduce them to your brand.

Outbound Lead Generation

Lead Enrichment

Lead enrichment adds third-party data to your raw lead lists, creating fuller prospect profiles for more effective and personalized outreach.

Lead Enrichment

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

Hadoop

Hadoop is an open-source framework designed for the distributed storage and processing of extremely large data sets across clusters of computers.

Hadoop

Personalization in Sales

Personalization in sales means tailoring outreach to a prospect's specific needs, interests, and context to make communication more relevant.

Personalization in Sales

Revenue Intelligence

Revenue intelligence is the process of collecting and analyzing customer data to provide insights that help sales teams make smarter decisions.

Revenue Intelligence

HubSpot

HubSpot is a customer relationship management (CRM) platform with tools for marketing, sales, and service, all aimed at helping businesses grow.

HubSpot

B2B Intent Data

Learn about B2B intent data, including how B2B intent data enhances sales strategies, sources of B2B intent data, leveraging B2B intent data for competitiveness.

B2B Intent Data

Demand Generation Framework

A demand generation framework is a strategic process for creating awareness and interest in your product, ultimately driving new business.

Demand Generation Framework

Representational State Transfer Application Programming Interface

A Representational State Transfer (REST) API is a web service that uses a simple, stateless architecture for systems to communicate online.

Representational State Transfer Application Programming Interface

Closed Lost

Closed Lost is a sales term for a deal that didn't go through. The prospect decided not to buy, or the sales team disqualified them.

Closed Lost

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

Sales Enablement

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

Sales Enablement

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

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

Buyer

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

Buyer

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

Account-Based Marketing Software

Account-Based Marketing (ABM) software helps teams coordinate personalized marketing and sales efforts to land high-value customer accounts.

Account-Based Marketing Software

Brag Book

Learn about brag book, including crafting your outstanding brag book, essential components of a brag book, & brag book vs. resume: unveiling the differences.

Brag Book

Account

An account is a company or organization that you're targeting for sales. It can be a prospective, current, or even a past customer.

Account

Demand

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

Demand

B2B Marketing Attribution

Learn about B2B marketing attribution, including challenges in B2B marketing attribution, & key metrics for effective attribution.

B2B Marketing Attribution

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

End of Day

End of Day (EOD) refers to the close of business hours. It's a common deadline for tasks and reports to be completed before the workday ends.

End of Day

ABM Orchestration

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

ABM Orchestration

AI Data Enrichment

AI data enrichment uses artificial intelligence to automatically enhance and update raw data, making it more complete, accurate, and valuable.

AI Data Enrichment

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

Use Case

A use case is a detailed description of how a user interacts with a system to achieve a specific goal, outlining the steps from start to finish.

Use Case

Simple Object Access Protocol Application Programming Interface

A Simple Object Access Protocol (SOAP) API is a web service that uses XML to exchange structured information between different applications.

Simple Object Access Protocol Application Programming Interface

Lead Scoring Models

Lead scoring models rank prospects by assigning points for their behaviors and demographics, helping sales teams prioritize their outreach.

Lead Scoring Models

Data Security

Data security protects digital information from unauthorized access, corruption, or theft throughout its entire lifecycle.

Data Security

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

Sales Enablement Content

Sales enablement content refers to the materials and tools that empower your sales team to engage prospects and close deals more efficiently.

Sales Enablement Content

Behavioral Analytics

Learn about behavioral analytics, including implementing behavioral analytics successfully, & key metrics in behavioral analytics.

Behavioral Analytics