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 It provides clear direction for strategic planning but can become outdated or too broad.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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Customer Relationship Marketing

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Customer Relationship Marketing

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

Tire-Kicker

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Tire-Kicker

Brand Equity

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Brand Equity

Load Testing

Load testing is a type of performance testing that determines how a system behaves under both normal and anticipated peak load conditions.

Load Testing

Multi-touch Attribution

Multi-touch attribution is a marketing analytics method that credits multiple touchpoints on the customer journey for a conversion.

Multi-touch Attribution

Open Rate

The open rate is the percentage of recipients who opened an email. It's a primary indicator of a subject line's effectiveness.

Open Rate

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

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

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 Development

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

Sales Development

Triggers

Triggers are predefined conditions that, when met, automatically launch a workflow or action, ensuring timely and relevant outreach.

Triggers

Return on Investment (ROI)

Return on Investment (ROI) is a key performance metric that measures the profitability of an investment relative to its initial cost.

Return on Investment (ROI)

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

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

Rollback Procedures

Rollback procedures are a set of steps to restore a system to a previous, stable version after a failed update, ensuring minimal disruption.

Rollback Procedures

Marketing Analytics

Marketing analytics involves measuring and analyzing marketing data to understand campaign performance and improve return on investment (ROI).

Marketing Analytics

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

Return on Marketing Investment

Return on Marketing Investment (ROMI) measures the revenue generated by a marketing campaign relative to the cost of that campaign.

Return on Marketing Investment

Weighted Sales Pipeline

A weighted sales pipeline forecasts revenue by assigning a closing probability to each deal, giving a more accurate picture of potential income.

Weighted Sales Pipeline

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

Direct Sales

Direct sales involves selling products directly to consumers in a non-retail setting, such as at home, online, or person-to-person.

Direct Sales

Consumer Buying Behavior

Consumer buying behavior is the study of how individuals select, buy, and use products and services to satisfy their needs and desires.

Consumer Buying Behavior

Incident Response

Incident response is an organization's systematic approach to managing and mitigating the aftermath of a security breach or cyberattack.

Incident Response

Objection Handling

Objection handling is the process of responding to a prospect's concerns or hesitations about a product or service to move a deal forward.

Objection Handling

MOFU

MOFU, or Middle of the Funnel, is the crucial evaluation stage in the buyer's journey where leads compare solutions to their known problem.

MOFU

Account Match Rate

Account match rate is the percentage of target accounts successfully identified and matched against a specific database or data provider.

Account Match Rate

Buyer

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

Buyer

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

Adobe Analytics

Adobe Analytics is a leading web analytics solution for gaining real-time insights into user activity across websites and mobile applications.

Adobe Analytics

Dynamic Segment

Dynamic segments are self-updating lists that group contacts based on real-time data, ensuring your outreach is always timely and relevant.

Dynamic Segment

Below the Line

Learn about below the line, including key strategies for below the line marketing, & distinguishing above and below the line tactics.

Below the Line

Multi-Channel Marketing

Multi-channel marketing uses various platforms—like email, social media, and direct mail—to engage with customers wherever they are.

Multi-Channel Marketing

Value Gap

A value gap is the difference between the value a customer expects from a product and the actual value they receive, often leading to churn.

Value Gap

After-Sales Service

After-sales service is the support provided to customers after they've purchased a product. It includes things like warranties, training, or repairs.

After-Sales Service

Lead Response Time

Lead response time is the duration between a potential customer showing interest and your team's first point of contact with them.

Lead Response Time

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

Hard Sell

A hard sell is an aggressive sales technique that uses high-pressure tactics to push a customer into making an immediate purchase decision.

Hard Sell

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

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

On Target Earnings

On-Target Earnings (OTE) is a salesperson's total potential pay, combining base salary and commission for hitting their sales quota.

On Target Earnings

Microservices

Microservices is an architecture where apps are built as a collection of small, independent services that communicate with each other over APIs.

Microservices

Customer Lifetime Value

Customer Lifetime Value (CLV) is the total revenue a business expects from a customer throughout their entire relationship with the company.

Customer Lifetime Value

Direct Mail

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

Direct Mail

Escalations

Escalations are the process of moving a customer issue or sales opportunity to a more senior or specialized team member for resolution.

Escalations

Digital Contracts

Digital contracts are legally binding agreements created, signed, and stored electronically, offering a faster, more secure alternative to paper.

Digital Contracts

Sales Pipeline Velocity Formula

The sales pipeline velocity formula is a key metric that measures how quickly deals move through your pipeline and turn into revenue.

Sales Pipeline Velocity Formula

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

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

SFDC

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

SFDC

Supply Chain Management

Supply Chain Management oversees the entire production flow of a good or service, from raw materials to final delivery to the consumer.

Supply Chain Management

CRM Integration

CRM integration connects your CRM software with other tools, creating a unified system for all your customer data and business processes.

CRM Integration

Email Cadence

An email cadence is a scheduled sequence of emails sent to prospects over a specific period to nurture leads and drive engagement.

Email Cadence

Lead Qualification Process

The lead qualification process is how you determine which prospects are most likely to become customers by evaluating them against specific criteria.

Lead Qualification Process

Always Be Closing

“Always Be Closing” (ABC) is a sales mantra meaning every action a salesperson takes should be with the ultimate goal of closing the sale.

Always Be Closing

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

Subscription Models

Subscription models are a business strategy where customers pay a recurring fee at regular intervals for access to a product or service.

Subscription Models

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

No Forms

No Forms is a method for capturing lead data directly from your website visitors' profiles without requiring them to fill out any forms.

No Forms

Buying Criteria

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

Buying Criteria

Account Mapping

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

Account Mapping

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

Subject Matter Expert

A Subject Matter Expert (SME) is an individual with profound knowledge and authority in a particular area, topic, or industry.

Subject Matter Expert

Knowledge Base

A knowledge base is a self-serve online library of information about a product, service, department, or topic.

Knowledge Base

Database Management

Database management is the process of organizing, storing, and maintaining data in a database to ensure its accuracy, security, and availability.

Database Management

Signaling

Signaling is using credible actions to convey information about quality or intent to a less-informed party, effectively building trust.

Signaling

Objection

An objection is an explicit expression by a prospect that presents a barrier to moving forward in the sales process.

Objection

Bounce Rate

Learn about bounce rate, including understanding bounce rate implications, key factors affecting bounce rate, & reducing your bounce rate effectively.

Bounce Rate

Sales Quota

A sales quota is a time-bound sales goal for a rep or team, measured in revenue or units sold, to be met within a specific period.

Sales Quota

Marketing Funnel

The marketing funnel is a model illustrating the path potential customers take, from initial awareness to making a purchase.

Marketing Funnel

Closed Opportunities

Closed opportunities are potential deals that have concluded. They are categorized as either 'closed-won' (a sale was made) or 'closed-lost'.

Closed Opportunities

Customer Relationship Management Hygiene

CRM hygiene involves regularly cleaning and updating your customer data to ensure your CRM system remains a powerful and reliable tool.

Customer Relationship Management Hygiene

Chatbots

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

Chatbots

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

B2B Demand Generation Strategy

Learn about B2B demand generation strategy, including key elements of demand generation, & crafting your demand generation plan.

B2B Demand Generation Strategy

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

Weighted Pipeline

A weighted pipeline forecasts sales revenue by assigning a closing probability to each deal based on its stage in the sales funnel.

Weighted Pipeline

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

Psychographics

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

Psychographics

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

Custom Metadata Types

Custom Metadata Types store application configurations as metadata. This makes them easily deployable between different Salesforce environments.

Custom Metadata Types

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

Lead Scrape

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

Lead Scrape

Analytical CRM

Analytical CRM analyzes customer data to uncover actionable insights, helping businesses make smarter decisions and improve customer interactions.

Analytical CRM

Cross-Site Scripting

Cross-Site Scripting (XSS) is a web security vulnerability that allows attackers to inject malicious scripts into trusted websites.

Cross-Site Scripting

Small to Medium-Sized Business

A small to medium-sized business (SMB) is a company whose employee count and annual revenue fall below certain industry-specific thresholds.

Small to Medium-Sized Business

Sales Funnel Metrics

Sales funnel metrics are key data points that track how effectively you're moving potential customers from awareness to a final purchase.

Sales Funnel Metrics

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

Email Verification

Email verification is the process of confirming that an email address is valid and deliverable, which helps improve campaign performance.

Email Verification

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

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

Sales Director

A Sales Director leads a sales team, develops strategies, and is responsible for meeting a company's revenue targets.

Sales Director

Account-Based Analytics

Account-Based Analytics measures engagement and impact across target accounts, not just individual leads, to guide B2B sales and marketing efforts.

Account-Based Analytics

Sales Demo

A sales demo is a presentation where a sales rep shows a prospect how a product or service works and solves their specific problems.

Sales Demo

Content Delivery Network

A Content Delivery Network (CDN) is a system of distributed servers that deliver web content to users based on their geographic location.

Content Delivery Network

Territory Management

Territory management is the process of segmenting customers into groups by geography or other factors to optimize sales efforts and resources.

Territory Management

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

B2B Contact Base

Learn about B2B contact base, including building an effective B2B contact base, & strategies for expanding your contact base.

B2B Contact Base

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

Account-Based Marketing Benchmarks

Account-Based Marketing (ABM) benchmarks are key metrics used to measure the performance and success of your targeted account strategies.

Account-Based Marketing Benchmarks