Value. It’s a strange thing. People and businesses alike are forever trying to demonstrate it in spite of its shifting nature. It varies across the population yet it is the driving force dictating what is regarded with attention and what is discarded with disinterest.
So how does a business show their value, know that it’s a value that their audience will recognise and how do they do it effectively enough to increase their Return On Investment?
A business’s display of value is known as their value proposition. Online, it’s the section of your website that promises the benefits you offer – benefits that have been tailored to an audience you’ve researched and determined.
The key tenets of value propositions are no secret – for the uninitiated, a value proposition entails:
- Identifying your audience
- Acknowledging a problem or pain point they want solving
- Proposing a solution/benefit from your service
- Demonstrating its superiority to competition
But let’s face it – some businesses do better than others, even if their products and services are remarkably similar.
Want to know how to deliver value propositions that are a cut above the rest? Read on.
Show measurable benefits
Every business is going to want to push the unique benefits of their service – it’s the most impactful statement of their value proposition. Customers aren’t stupid though: vague, broad and gaudy benefits are going to breeze past your audience like a dull wind.
Instead, focusing on the palpable and specific features of your product will enthuse potential buyers with the prospect of, well – something real. There’s no need to spout a fairytale of how your service will blow your audience away. If you’re confident in what you’re offering (which you will be) then an honest description of its benefits with emphasis on the nitty-gritty, actionable characteristics will be far more appreciated than a load of hollow hype.
Know what grinds your audience’s gears
Know your audience’. Jeez, we’ve heard that a million times haven’t we? You know the demographic and their buying habits, but sadly, everybody is a unique snowflake with a fluid value system. So know your audience is, unfortunately, an ongoing thing. For your value proposition to really get through you need to be tirelessly engaging with your audience and ensuring you’re up-to-date on pain points and wish-lists. In 2015, social media is the hub for audience engagement, and interacting with your market on platforms like Twitter, Facebook and LinkedIn is integral for keeping up with the shifting values that’ll make your value proposition relevant and evocative.
Build for consumption
It’s the information age and the amount of choice at people’s fingertips means that attention is now a mercurial commodity, Because of this, whatever you’re trying to convey to potential buyers has an uphill battle to compete against attention spans that are already anticipating the next piece of content. Simplicity and succinctness are now a necessity for quick consumption, however these must not be employed at the expense of persuasiveness. In order to keep your value proposition compelling, it’s vital that your words are chosen for their aptitude and accessibility, rather than being ornate and over the top.
Take this value proposition from Cisco phones, Whilst lacking in comparative superiority points (the importance of this depends on how competitive the market is), the key components of the value proposition are clear. The audience is identified as business and organisations, the benefits are displayed as unique technical features and the pain points are revealed through merits relating to usability and productivity.
Your value proposition is how you turn your service into business. Remember that audience, pain points, benefits and superiority are the function of your proposal, whilst incorporating honest, empathetic and concise language is its style.