The value proposition is a vital part of your brand. It consists of just a few sentences but it encompasses how you convey your message to your target audience, general marketing strategy, and company perception. It also allows you to focus on your company’s strengths and core market.
Despite value propositions being short and simple, customers spend more time reading them than any other content on your webpage or marketing material. Experts from a creative agency in Salt Lake City cite the following ways to improve the way you communicate with customers.
Determine Your Brand’s Core Benefits
A mistake that some brands make is they want to offer everything to their customers. This muddles your value and branding because it is unclear what your company’s specialty really is. When making your value proposition, identify the core advantages you provide your customer base. This allows you to focus on solving the problems of your audience and developing products and services that address them.
Stick to Your Strengths
Some brands overextend themselves by deviating from what they do best. Take Konami’s move to pachinkos instead of focusing on its acclaimed video games or RCA’s acquisition of random companies instead of concentrating its electronic expertise as cautionary tales of this mistake. This provided competitors with opportunities to snag their customers.
Understand your core strengths and stay within its limits; doing so allows you to concentrate on products and services that help you and your customers. Do a SWOT (strengths, weaknesses, opportunities, and threats) analysis to help you understand your strengths and stick to them.
Understand Your Customers’ Desires
This touches the deep desires of your target audience. This can take on different forms but are commonly a huge problem they experience regularly, fear or an aspiration. These are strong emotions that may lead some people to take immediate action to satisfy or relieve them. Once you understand these, you’ll be able to connect with them and turn them into loyal brand consumers. Market research plays an important role in understanding this. The data you gather enables you to identify the conscious and subconscious needs and wants of your customers. You won’t be able to make accurate decisions all the time, but your margin of error will be smaller.
Know the Main Problem
Some brands don’t click with their target audience because they didn’t address their customers’ main pain points. They managed to solve minor issues, but failed to meet a core need. Determine what this is by asking your customers directly. This can come in the form of surveys, focus group discussions or even mistakes with previous products and services. Asking for feedback from your consumers allows you to learn more about their behavior, preferences, and needs.
Clarity is Key
The value proposition should be as clear as day, black and white. Clarity is an important aspect of making and following through on a value proposition. Avoid jargon and industry terms, especially if your company is a business-to-consumer one. Use simple words that everyone understands.
These are effective ways that improve your value proposition. Use these suggestions to create a simple but engaging summary of your business. If done correctly, you’ll consistently secure your casual customers and turn them into longtime consumers.