Smart Marketing … is built around a strong value proposition.
The term “value proposition” may be marketing jargon, but trying to drive sales without a well-defined one is like trying to drive a car blindfolded.
So, if you don’t know what a value proposition is (let alone how to write one for your business), let’s take that blindfold off.
First off, what IS a value proposition?
At a fundamental level, a value proposition is a clear statement of the value you deliver to customers. It answers the questions:
- Why do customers buy from you? (i.e., What sets you apart from the competition?)
- What problems do you solve? (i.e., How are your products or services relevant?)
- How do you make people’s lives better? (i.e., What are the quantifiable benefits your products or services deliver?)
Secondly, here’s what a value proposition ISN’T:
- A slogan or tagline.
- A mission or vision statement.
- A positioning message (although a value proposition can contain positioning statements).
What constitutes a great value proposition?
- Make sense to people who aren’t your customers (yet).
- Be written in the language of your target market.
- Steer clear of clichés and esoteric language.
- Directly answer the three questions at the beginning of this post.
Knowing your core value is fundamental to smart marketing.
It serves as the foundation for your sales and marketing strategy! Need help defining yours? Here are a few steps you can take to create a clear, concise and compelling value proposition that explains the benefit you provide to your target audience, and how you do it uniquely well:
- Define the product or service you sell – in as few words as possible, while still being accurate.
- Identify all the benefits your products or services provide. Seriously – make a list!
- Translate those benefits into value. Describe and quantify the value those benefits translate into for customers.
- Pinpoint what makes your offerings unique – and better than the competition. (To accomplish this, you have to know what your competitors are up to).
- Distill all of the information from steps 1 through 4 into a simple statement. Start with a clear headline describing the end benefits you deliver, as well as a supporting paragraph (or bulleted list, if that works better for you) that provides a detailed explanation of what you offer, to whom, and why.
Sounds simple, right?
Well it is…and it isn’t. Honestly, creating your value proposition is a weighty task, and it helps to have a marketing experts’ insight to ensure yours is compelling and accurate.
If you need assistance with any aspect of your company’s marketing or need help defining your value proposition, give BARQAR’s Smart Marketing experts a call today! You can also watch our live Smart Marketing webinar series, here!