When a brand makes a statement that tells its customers why they should choose the brand and not its competitors, the statement is known as a value proposition. With the help of one, customers can know more about a brand. If the value proposition of a brand is crafted correctly, it gives a boost to the brand. It is also largely responsible for the success of a brand.
An effective value proposition needs a good hook. It should address certain areas, such as problems that a specific audience faces, how the products and services of a brand solve those problems, and the value of the solutions given. Convey all in the right language. That helps to increase sales and improve conversion rates. The language used should be such that it can participate in a conversation that is going on in the customer’s mind. Given below are tips to create a value proposition that will help to impact sales positively.
Match offerings to help customers
To recognize the needs of customers, deep research is needed. If a brand is aware of the challenges its customers face, it would be in a better position to solve those challenges. A value proposition becomes effective when it can match what it is offering to what the customer can afford. Every business should have a reason why their customers would want to buy from them and not their competitors. Tailor products and services to meet the needs of customers. The benefits of a product or service need emphasized.
If a value proposition is specific, it will be more effective. For that, it is better to quantify the benefits. Using a number or a percentage also acts as proof that a brand can live up to its claims. For instance, Stripe, a payment processing platform, has a sub-headline in its value proposition that mentions specific benefits. A company that manufactures printing ink can say that it dries faster than any other type of ink. A fact-based value proposition can result in huge gains.
Offer unique benefits
Differentiation is what makes a brand unique. A unique value proposition is concise and specific and backed by reasoning. It is a mistake to assume that a brand has no competition. A brand can focus on what its competitors are lacking and what it can do better. Also, write it with the ideal customer in mind and avoid hyperbolic claims.
Try out the value proposition
After crafting a good value proposition, it helps to broadcast it to target customers. Test it in the form of an ad, a landing page, or even a pitch. Ads can be run on different platforms depending on where the target customers would be. If the reaction to it is not what was expected, then it should be refined or modified. The feedback from customers would help a brand to understand how it should change its value proposition.
Matt Caiola is Co-CEO of 5WPR, a leading PR agency.