What are value propositions and why should you have them?
There are so many of you out there that are thinking what are value propositions? Oh, you weren’t… so what were you thinking?
I gotcha, you kinda know but wonder what’s the point?
It’s common for people to think that way. Be careful though that it’s not just because you have more important things to do. This can help your sales. Let me highlight for better understanding.
1. Let’s start with, WHY?
2. Why does it?
3. Why do customers buy from you?
4. Well hear this, if you manage to find the sweet spot in motivating someone or a company to buy your product, you can guarantee it had something to do with a value proposition. It helps define your products and tells all those people what is great about your product over any other. There are hundreds of other products out there that would persuade a customer to buy elsewhere, so why yours?
Perfecting your value proposition is going to go a long way to increasing your conversions. Your marketing strategies will improve your channels of choice. Making compelling propositions will add value to your product and in terms of marketing, add reach.
Next question then, what is it? Yep, now you’ve read why, we can now transition back to what? A value proposition is what ultimately makes your product attractive. It is a promise you deliver post-purchase. Don’t confuse brand slogans, catchphrases, or even a positioning statement with a value proposition as they are different things.
The value proposition answers three main points to your customer. It highlights the benefits of the product. Then there is the pain. It needs to highlight what problems it can solve, and how it improves their life. Lastly what makes your product exclusive and desirable?
A value proposition is normally the first thing a customer would see when landing on your site. Don’t hide it away behind another tab. Rarely will you highlight features, it’s all about the benefits here. And then draw in the emotions and the senses. Inform the target audience how your problem-solving product is going to improve their life. Try to be unique and clear about it.
Every company owner believes that its products are valuable. And because of this, it can be so easy to overlook the way that value is communicated to others.
So, keep an open perspective, think about what others are looking at, and share that promise specifically, pain focused, and exclusively to your target audience. Turning all of your future customers into loyal paying customers.