Internet and has empowered your buyer. Your buyer is spending not more than FOUR seconds in their mobile search for content. This 4 seconds swap is fundamentally shaking up the foundations and paradigms of traditional marketing. All your efforts in marketing push have become a marketing monolouge and getting discard in a few seconds. Creating Value propositions are a vital element of a company’s marketing positioning. They make it possible to differentiate you from your competitors and to facilitate the process of buying your prospects, by enlightening them on what makes your specificity.
The fact: The Market
Market is competitive, Market is more commoditized. What matters is price now. Price war, whether b2b technology implementation or industry machinery implementation it is a price war. Whether Caterpillar or IBM or Thomas & Co, ultimately price matters.
Questions: Value Propositions
How do you position your company, product and service differently or differentiate you from the competition?
How do you propose the value to informed buyers?
How do you propose it to an uninformed buyer?
How to define a relevant value proposition for your business?
How will you sales folks pitch?
How will you pre-sales folks pitch value proposition during their product demos, proposals, RFP and tender document?
How to bring out your value proposition on your website? Presentations, Videos, Case studies?
What will a CEO cover in his / her 30 seconds value proposition pitch?
Similarly, what will your shop floor assistant or an office assistant convey the values of your organization?
Take an example: All bread has the same colour and package, so we might think they have equal value. But in this case, why are there so many different Loaves of bread on supermarket shelves? The answer is simple: if they all have the same utility, their value proposition makes them unique against the criteria they meet (types of flour referred, flavours, smell, packaging, brand and price). Some do not have even a factory-made package brand will be the highest cost. That is our Bakers special!
What is your value proposition?
What is the value of your offer? “What’s in it for me? What is there for me? What are the concrete results a consumer gets by using your products or services? The value proposition is the heart of your business model; it is also a critical step in the process of starting a business.
Many companies often have trouble defining their value proposition. They fail to attract the attention and interest of potential buyers. Their message is ineffective and does not encourage decision-makers to say, ‘Let’s connect, and we have to meet. Let me know more about this?”
May you write down all features and benefits? Is this the value proposition? Some outside help can make it easy to formulate the benefits a product or service provides to your customer and help you look beyond the features and benefits of the product. So talk to a few prospects, customers and even non-customers, you can consolidate more points. Meagre likes and comments will not get you the actual buyer.
Value Proposition – based on buying behaviour and buyer persona
You will find a lot of information on the internet to define a value proposition. Prepare a list, a canvas, it more comfortable to visualize the importance of the different elements of a company’s value proposition and thus better analyze its competitive position. Buyer persona is emotional, exclusivity and engaging. Buyers want exclusivity. Buyer want experience. Try to make it precise and personal, based on their buying behaviour — the more accurate, the stronger the communication.
The fact is your buyers are more informed. In a few seconds of search, they can you more information about your product, when compared to your competitor. New technologies and algorithms are transforming the buyer landscape — their buying behaviour matters in preparing value proposition.
Simple example: Now Job seekers who arrive on the job market are not approaching the job market in the same way than their elders did a decade back. Their psyche has changed. Their behaviour has changed. They do not like ambiguity, very reflective, they enjoy planning, bit Curious, most of them non-Confrontation, do not want to stay, more than a year or two. Neither job security nor, salary attracts them. So how will HR recruiters propose values to their target groups?
Is your value propostion strong? Have you tested it? If not, how do can you develop value proposition statements? Do you want a value canvas for your organization? Do you need a value proposition matrix based on buying behaviour? Have your heard about creating value proposition based on design thinking?