A value proposition is the foundation of marketing and gives customers a reason to do business with you and why they need you. When it comes to web pages and ads it is one of the most important elements to convert and capture customer interest and educate them about what you are offering.
What Makes a Good Value Proposition?
Does your company meet the needs or desires of its customers? Is your sales appealing to customer emotions or establish a relationship that engenders ongoing brand loyalty?
When defining and creating your value proposition, ask yourself:
- Who is your customer? What do they need?
- What problems does the customer need to solve?
- What improvements might they be looking for?
- What do they value?
Address the Customer
The value proposition should address why a customer should buy from you and not your competitor. It is something that determines why people will continue reading about your product or bounce from your website. A value proposition should be the first thing visitors see on your homepage and visible from all landing pages on your site.
It should be easy to understand and read. It should be convincing and deliver a proposition that can:
- Solve a customer’s problem
- Address customer anxiety
- Be compelling to get a customer to convert
A strong value proposition sets your company apart from the competition, and it comes down to how successful your value propositions are to beat the competition. A strong value proposition can:
- Convert more customers
- Attract customers
- Increase customer loyalty
- Convince to buy at higher prices
- Outperform the competition
Strive for Clarity
The best value proposition is clear: What is it, who is it for, and how is it useful?
A value proposition should be clear and offer:
- Relevancy to explain how your product solves customers’ problems or improves their situation.
- Communicate results a customer will get from purchasing and using your products or services.
- Value and benefit to your customer.
- How you are different or better than the competitor’s offer.
- Be unique and convincing to the customer why they should buy from you and not from the competition.
- Understandability and clarity. It can be read and understood in about 5 seconds.
How to Make a Powerful, Unique Value Proposition
An effective value proposition is to set you apart from the competition. Most potential customers check 4–5 options or service providers before they decide on what to buy. You want to make your offering stand out in the research phase.
Sometimes little things can make a decision in your favor. If most major things are the same between your and your competitors, you can win by offering small value-added incentives.
A value proposition is a statement of value that the company offers through its goods or services and differentiates value from the competitor.
Add offers against competitors who don’t offer them. Some of these can be offers like:
- Free shipping
- Fast or Next-day shipping
- Free bonus with a purchase of…
- Free setup or install
- No long-term contract or obligation
- License packs
- Money-back guarantee
- Discounted price or on sale
Try to think of small things you could add that wouldn’t cost you too much and can attract buyers.
Elements of an Effective Value Proposition
There are a few elements of a good value proposition.
Know your Competitors and Target Market
Identify your target market, the consumer group that is interested in your product or service.
Clearly answer the question of why a customer should choose your company’s products vs other choices.
You can offer value in the form of the lowest price, highest quality, or saving time. If your product offers a technology not available from any other product, it is a unique value.
Know Your Product or Service
How does your product, service or idea solve a problem or make an improvement? Does it offer value or results?
Have you addressed the following questions:
- Did you make the customer feel the way you wanted?
- Did you communicate the goals of your company?
- Did your value proposition portray what your business represents?
If you can address all the points above and convert, you have created good customer value proposition. Connect with your customer and stand out from the rest and you will be closer to closing that sale.
Originally posted 2020-03-14 08:01:27. Republished by Blog Post Promoter