Brands need to convince potential consumers quickly of their importance and the added value their product or service will bring to consumers’ lives, over competitors. A value proposition is an efficient, consumer-centric way of doing this.
Value propositions are a fantastic tool for helping increase brand awareness and loyalty. Proving that you deliver what you promise to consumers is vital for creating loyal customers who will return to you in the future.
Value Propositions communicate a quantifiable benefit – value – to a prospective customer: a value they can identify with as important to their business, and key to their decision-making process. Value is the most meaningful metric to differentiate your brand from your competitors. In essence, your value proposition should answer these three questions:
- What does your company do?
- What are the key benefits of your product/service?
- How are you different or unique?
By creating a value proposition, you will appeal to your target audience and have a higher chance of converting them to customers because you are speaking directly to them and providing a solution to their specific needs.
Your value proposition is also a great way to set you apart from your competition. By highlighting your unique benefit to consumers, they will understand why your product or service is best suited to them over a competitor.
Getting the Value Proposition right is the result of sound prospect knowledge and market understanding rather than ‘gut-feel’ – and the foundation of all effective sales and marketing. Value is developed within a company through product innovation, operational excellence and customer intimacy.
So why not invite YTKO Group to deliver a one-day workshop, to introduce your key sales, marketing and product personnel to the principles of developing, testing and defining a strong value proposition?