Before we start to talk about creating your value proposition, let’s talk about your marketing strategy as a whole.
Your marketing strategy is the explanation of your business goals and the organization of these ideas in order to concentrate your resources towards an optimal opportunity.
In essence, what are you trying to accomplish with your business or product? Who is interested or who might be in need of a business solution?
In order to answer those questions, as well as other important variables, start by conducting a marketing analysis to determine your marketing strategy. This will help you to define your target market, establish pricing, distribution and promotional strategies.
Once you have determined where your optimal opportunity resides, you can start building a value proposition to define your business. Ultimately, your value proposition will clearly define a solution for your persona and establish why the solution is the choice over competitors in your market.
Building a compelling value proposition
Your value proposition statement is typically one of first things the reader will see when they land on your website and can determine whether or not they decide to stay on your site. This a chance for you to prove that you can take your visitors business to the next level.
We know that sounds like a lot of pressure to put on you; especially narrowing it down to one sentence, but be sure your message is clearly defined, specific to their needs and evokes emotion (ideally excitement that they found a solution to all of their problems).
Speak to your target audience
When we create anything, from a blog post to a premium content offer, we always have our personas in mind, right? Well, consider your persona when you're developing your value proposition as well. Does it speak to them? Is it something they can actually relate to?
Since your potential leads are going to be looking for specific keywords, this is your opportunity to include them in your value proposition and attract your ideal persona. For example, if you're in the technology marketplace you would want to focus on keywords that your personas may be entering in the search bar, such as, software system or software anti-virus.
As always, follow best practices to ensure you aren't missing out on any potential opportunities for keyword placement. Because we all know there is nothing more disappointing than a missed opportunity; more specifically, missing out on a lead that could have potentially turned into a repeat customer.
Define the problem and provide value
American inventor, engineer and businessman, Charles Kettering, once said, “A problem well stated is a problem half solved.”
....In essence, you'll want to understand the value of your product before you go to market it.
Can your product solve a problem? Will it improve their business? Once you have determined this, think about how you can be specific, creative and unique in your messaging. This is your opportunity to attract and pull in your personas, so don't miss out on opportunities with a message that doesn't resonate with them.
Differentiate yourself from the competition
You are probably not the only business in your market; this is why it's essential that you have established what makes your brand unique and different from your competitors. Consider why you are the better choice or how your product or service can provide a unique solution.
Circling back to earlier in the post, finding what is unique is what will help you to define your niche in the market. And remember, just like other parts of your value proposition, be specific. Will your product provide faster results? Is there a more hands-on approach? Do you offer support? Highlight what makes you different and use it to your marketing advantage.
Test before you commit
An effective value proposition can increase your ROI by approximately 15%—so make sure to test it out before you commit. Ask internally and see if everyone in the company is in agreement with your messaging. Does it define what offer to a T? Is the best way to draw in new leads? If you have narrowed it down to two potential value propositions, create two different landing pages and run an A/B test to see what message is more effective.
Ultimately you want your value proposition to resonate with your customer and evoke an emotion. Starting small and having a solid understanding of who you’re targeting and who your message is reaching will give you a competitive advantage over other brands within your market.
Have any other tips for creating a successful value proposition? We would love to hear from you.
[Image Source: ShutterStock]
Topics: Demand Generation