Modern customers are smart. Most no longer accept the first offer they see. They spend time researching to see which company, brand, or product offers the best. That is why communicating your value proposition, or unique selling proposition (USP), is so important.
If you don’t strongly explain why customers should choose you over the competition, they will likely choose someone else every time. An effective value proposition makes it easy for customers to choose you.
However, having a value proposition and effectively communicating it are two different things. Keep reading to learn the steps you need to take to master your value proposition messaging.
- A value proposition is a straightforward way to describe your value to clients and potential customers
- You need a thorough understanding of your target audience to create a compelling value proposition
- A value proposition addresses a specific need that your customers have
- You want your value proposition to be memorable – use it everywhere
What Is a Value Proposition?
At its heart, a value proposition must answer the question: “Why should someone buy your products and services instead of someone else’s?” A value proposition needs to cover three basic areas:
- Who? A value proposition doesn’t name a buyer but should offer clear value to the intended target customers.
- What? Define what you are offering in the context of your customers.
- Why? Demonstrate your unique value to your audience.
It is also important to remember that your value proposition is not the same thing as your tagline, mission statement, or slogan. A value proposition describes your products or services, while your goals define a mission statement.
This video offers a thorough explanation of what a value proposition is and why you need one.
5 Steps to Communicate Your Value Proposition
To drive sales, create effective advertising, and attract new customers, you must communicate your USP. These five steps can get you going in the right direction.
1. Get to Know Your Customers
You need to know what your customers care about. An effective value proposition will address their needs, challenges, goals, or problems. One of the best ways to fill in that information is to survey your customers to ask them what they want.
Take those answers and create some buyer personas. These are fictitious customers who fit various types of your targeted customer base. You can decide how detailed you want to be depending on the type of business you run. However, most include basic demographic information, pain points, expectations from your company/products, and a biography.
With your buyer personas, you might discover new customer values or pain points you can address in your value proposition.
2. Address Your Customers’ Needs
Look through your buyer personas and other customer data to narrow down the most important needs your customers have when it comes to your business and products. Think about how you fulfill that need. How do you do it differently than the competition?
As you start narrowing down your value proposition, try completing these thoughts from the customer’s point of view:
- I want to buy [product or service] because it will help me ______.
- I want to buy from [your brand] instead of the competition because _____.
- The best part of this [product or service] is _____.
Your value proposition should communicate the problem you will solve along with the results your customers should enjoy. Including numbers or percentages can help make a value proposition even better. For example, consider Geico’s “15 minutes could save you 15% on your car insurance.”
3. Create Something Memorable
You want customers and potential customers to remember your value proposition. A value proposition should be simple, short, and to the point. Do not try to be overly clever or vague, as this can potentially create confusion.
For example, take the brand Saddleback Leather Co. Its value proposition, “They’ll fight out it when you’re dead,” is clever. More importantly, however, it is straightforward and memorable. Right away, you understand what it means – the company designed its leather bags to last more than a lifetime.
Saddleback Leather Co. presents its value proposition as a bold leading headline on every page of its website, making it impossible to forget as you browse through the products.
Source: Saddleback Leather
When writing your value proposition, it should include the primary headline, a visual element, and additional text. This example from Saddleback shows the leather imagery and three key details.
4. Get Everyone on Board
Once you have created your value proposition, it is time to share it with the world. You need the entire team on board to start communicating your value proposition effectively.
With every department on the same page, you will create a consistent message for your brand. Tell team members to share your value proposition whenever they can. Important moments include:
- Speaking with clients or potential customers.
- Answering questions about where they work.
- Talking with suppliers.
- Anytime they are talking about your company or products and services.
This much communication can create a strong word-of-mouth campaign to build up your reputation and value proposition. You can turn every person on your team into a brand ambassador.
5. Put Your Value Proposition Everywhere
Your value proposition is a powerful tool for your marketing team. They can and should be using it across all your communication channels:
- Social media
- Your website
- Signature lines in emails
- A headline on direct mail campaigns
Don’t worry about sharing your value proposition too much, as repetition is key in getting potential customers to remember you and seek out your brand.
Share Your Value Proposition More Effectively with MXTR
Your value proposition is an important part of lead nurturing. It introduces potential customers to your brand and lets them know what you have to offer. At MXTR, we can help you share your value proposition more effectively as part of our automated lead nurturing and marketing solutions.
Ready to accelerate your lead nurturing strategy? Contact us today to schedule a free demo.
Featured Image: istockphoto