Your value proposition is one of the most important components to your business. A strong value proposition can catalyze conversions and compel customers to come back. Now not all value propositions are created equal. You may have even come across several sub-par examples while browsing online. Make your value prop “pop” and you’ll totally set yourself apart from your competitors.
What Exactly Is A Value Proposition?
A proposition tells your customer the value your product will add to their life — solving a problem, entertaining, etc. It’s the sole reason why a consumer will choose your offering over that of competitors. Your value proposition should be the center piece of your website and marketing materials. It should serve as your key marketing message, and be consistent as well.
For example, Livible.com delivers their value proposition immediately upon landing on their website, “Making storage easier for you!” As we all know, nobody really likes moving and storing their stuff. This startup has solved that by doing all the work for their customers, and saving them money. Terry Drayton, CEO of Livible.com: “We found a serious problem in the demand storage space and aim to deliver a solution that is efficient, safe, and affordable.” A pretty impactful value prop, right?
How can you pin down a strong value proposition to grow your business and have more success? The following are 4 essentials you can draw from.
1. Create Detailed Buyer Personas To Define Value
Buyer personas are essential to uncovering details about your target customers. A strong buyer persona has demographic information, social media tendencies, buying triggers, and most important: The most common problems these buyers face in life. When you have all this key information, you can create a value proposition to hit all the right marketing triggers. For example, if you know that one customer segment is single mothers living in Los Angeles, your value proposition can encompass the pain points they may experience, like traffic issues and dropping kids off at school on time.
Once you have a few value prop messages based around your buyer personas, test them. Find those target customers online or in your community, and see if your message resonates.
2. Get Rid Of The Misconceptions Out There
There are tons of misconceptions in every industry and niche. If you can get rid of these misconceptions and redefine an image in your space, you can build your value proposition around your efforts. Dollar Shave Club is a great example of this.
The misconception that was held prior to them was that more blades on a razor is better. Let’s be honest, the number of blades on a razor makes little difference, so Dollar Shave Club crafted their entire value proposition around this, and the fact that you can get quality shaving gear for a buck surely makes a difference.
3. Develop Your Value Proposition Around Helping Customers
One of the best ways to create a value proposition that converts is to showcase how it helps potential customers. This is where things get interesting. You may have the best product in the world that can help everyone, but if you don’t highlight the value, you won’t sell a single product. Be proud of how your products and/or services can help people. Even if it is as simple as shaving a few minutes off an annoying daily task, make it part of the value you are offering.
To do this, start typing out, or writing down all the ways you can help potential customers. “When marketing your brand, try not to oversell or use too much promotional language,” Sujan Patel of Ramp Ventures said in an Inc. article. “Instead, frame your marketing in a way that shows how your product or service helps the consumer and how it will improve their lives for the better.”
4. Bring Your Value Proposition To Marketing Fruition
Value propositions are essential to quickly converting consumers. However, if consumers can’t find your value proposition after landing on your website, conversions will only trickle in. This is the moment when you need to pair your well-crafted value prop with marketing campaigns.
Your value proposition is the “why” when it comes to a customer buying from you, so ensure it’s in your marketing messages. For example, highlight benefits that your competitors don’t have, which stays true to your value prop while also serving as a product and/or service differentiator.
There are a number of ways to develop a strong value proposition that converts customers. The above are simply a few key essentials you can draw from to get the conversion ball rolling. Remember, deliver a message that triggers buying emotions, and ensure you market it right.
What has worked for you in the past when it comes to value props?