The value proposition is a clear statement that addresses all the reasons why your customers need to buy from your brand. A strong value proposition has a great impact on the conversion factors and is the difference between closing or losing the sale. It’s the unheard promise that you make with your customers for creating a powerful differentiation for your business. For instance, people never heard of overnight delivery but FedEx not only offers it to customers but also successfully delivers it.
Let’s get into the details of how you can build an incredible value proposition that attracts customers to your brand.
Identify the customer’s problems you want to solve. It requires an extensive research process that helps you to understand the needs and desires of your customers. Collect both qualitative and quantitative data in the form of surveys, and market analysis. You need to refine the extracted data to draw some valuable insights to highlight what your target audience demands.
Choose the explicit problems to address rather than implicit and aspirational ones. Explicit problems need urgency to solve and the demand is already present in the market. You don’t need to educate your customers about the issues as it will save your marketing budget to aware the customers about the severity of problem.
Whatever the product you manufacture, it will have some benefits for the customer. Identify those benefits and make sure to keep them more focused and concise for single-customer demand. For instance, if you create cosmetic products for skincare, you need to explain how your products are helpful for the skin.
When you identify the benefits of your products, it’s time to align them with the problems and pain points of the customers. It will help you to create a marketing campaign and the type of packaging that is more suitable for your product. You can print your brand message, logo, and unique selling propositions that will be more appealing to the customers.
If your customers have some unique demands it could be in the form of speedy services or product delivery. With the provision of these needs, you will be able to differentiate your brand from the rivals. You can create the difference both by using horizontal and vertical differentiation by offering your products at competitive prices or helping to build a favorable perspective of your customers for your brand.
The value proposition is different from the slogan or tagline of your brand. It more focuses on the benefits of your product and the demands of customers. You can create a strong proposition that will not only help you sell your products but also create a distinction from your competitors. Whenever your customer needs a specific product, it will be your brand that comes to their minds first.
