At The Pulse Rooms, identifying and amplifying a client's Value Proposition is at the core of how we help them achieve sustainable growth.
Every business has a Value Proposition to share, and it is arguably the most critical element of your overall marketing messaging. If your proposition doesn’t clearly communicate how you meet customer needs and demands, you risk missing out on potential business and losing market share to your competitors. Research by The Guardian found that businesses which focused heavily on refining and sharing their Value Proposition over ten years grew by 76%, even when their promotional efforts weren’t on point.
Here are three things to consider when working on this statement for your business.
Make Your Customer The Hero
The strongest Value Proposition statements speak directly to a customer’s pain. It should make them the hero in the story, not you. Businesses often get caught up in the ‘we problem’, where they spend more time talking about what they do and less time talking about how they solve their customers’ needs.
Spend time understanding exactly what your ideal customer looks like and find out the problems they face. Sometimes the real issues they experience aren’t easily visible at first, so it’s essential to look beyond the obvious. Talking to your existing customers is a great way to understand why they chose your business over a competitor. You can even use their exact words in your final Value Proposition.
Identify What You Do Best and Focus On It
When your offering consists of many different products and services, it’s easy to fall into the trap of losing clarity in your messaging. Your Value Proposition should identify the one thing you do best, which also presents the most significant value to your customer. This is the message you need to repeat over and over again across your marketing channels. By focusing, you’re more likely to win potential business from your competitors as customers will know how and why you are different.
Test, Test, and Test Again
Testing your Value Proposition is key to ensuring long-term success and helps you see if it resonates with your customers. You might apply your statement to a landing page and analyse if it leads to conversions. Alternatively, you can pitch it directly to your customers in conversation and listen to their questions in return. This ensures you don’t end up with a Value Proposition which doesn’t meet customer needs and demands. We use a simple analogy to explain this. Are you offering a red ball, when your customers really want a green ball?
