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Value Exchange

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Digital Marketing - Study Notes:

What do users expect?

A value exchange is a description of a transaction which can include, but may not necessarily be, financial in nature.

Examples of a value exchange between a brand and a customer can include:

  • The trading of money for goods or services (a straightforward financial transaction)
  • It may be the consumer sharing information in return for a reward, where we input data and get a service in return (such as Facebook)
  • It could be the promise and delivery of a better consumer experience

The third example is a combination of the first two, where we interact and offer input over time on the understanding that what we get in return over time will improve as a result of our interactions. This might be Amazon taking feedback from users on the recommendations offered to them.

Users understand the relationship and that data is being recorded and tracked. This links back to the business model and what users are prepared to exchange for what your product or service offers. It’s a story of increasing trust in the brand and the service.

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Rick Monro

Rick Monro is UX Director at Fathom. He has extensive experience in user research, interaction design, user-centered design, and design strategy with private and public sector organisations throughout the UK and Ireland.

By the end of this topic, you should be able to:

  • Appraise practices for planning UX research
  • Critically evaluate the roles of innovation and users in User Experience (UX) research
  • Evaluate cognitive biases that can affect research data
     

Data protection regulations affect almost all aspects of digital marketing. Therefore, DMI has produced a short course on GDPR for all of our students. If you wish to learn more about GDPR, you can do so here:

DMI Short Course: GDPR

If you are interested in learning about the principles of UX and the tools or techniques that you can use to develop and refine your user's experience, DMI has produced a short course on the subject for all of our students. You can access this content here:

DMI Short Course: UX Essentials

The following pieces of content from the Digital Marketing Institute's Membership Library have been chosen to offer additional material that you might find interesting or insightful.

You can find more information and content like this on the Digital Marketing Institute's Membership Library

You will not be assessed on this content in your final exam.

ABOUT THIS DIGITAL MARKETING MODULE

UX Research
Rick Monro
Skills Expert

With the help of Rick Monro, you will develop the knowledge and skills to build highly effective user experiences. You will learn how to think like a user in order to understand their priorities and needs, and you will recognize the role of various research and analytics techniques such as tree-testing, card-sorting, user-testing, user-surveys, Google Analytics and specialized tools such as Click-tale.