Making your value propositions grow your business 🔍 Evolving Strategies

EVOLVING STRATEGIES

This week’s opportunity to evolve your strategy

Making your value propositions grow your business

How to make them impactful to show customers value:

Value propositions are the points about your business that make it unique and differentiate your business. It's what you use as part of your marketing messages on your ads, email and website to get customers to buy. You want your value props to be strong, because it tells your audience the 'why' they should buy from you.

Create value props around your customers to have the most impact. This means understanding your audience, and what their pain points are. Leverage these insights to write your value props to address them, in how your business solves those pain points.

For example: Apple talked about their iPods that had 8GBs of storage when it first launched. But their value props were 1000 songs easily fitting in your pocket. For the customer it's the ease of being able to carry all the songs you want, without the CDs and extra weight. Outdated example know, but still a good one.

Another example: Nike designing the hijab for athletes that wear one. Built with material that has tiny holes for breathability and absorbs sweat. Positioned as no extra material in your face, no slipping and covers your head and neck. Focused around the pain points for hijabi women that workout but don’t have the right accessories. Giving them comfort and ease to workout and not have to readjust their hijab.

How to apply to your digital sales strategy:

1. Keep it manageable

2. Focus on your audience

3. Repeat to reinforce benefits

4. Show the value and benefits

5. Do your research

Keep it manageable

Keep the value propositions for your business to 3-5. Ideally you want 3, but in some cases you may be outperforming the competition and have 5 differentiating factors. Make sure each is different from the other.

Leverage these in your marketing messages, headlines, website, emails, social media and other distribution channels. Keep it consistent and keep repeating it. Your target audience will begin to remember your messages and associate it with your business.

Focus on your audience

Be specific in how you copy write these values so they address your target audience. Focus on the audience and not your business. Many businesses make this mistake, writing the features instead of the benefits.

Address your audience by using words like 'you' and 'you'. Humans are innately focused on the benefits they receive and how it can solve their problems. To get your audience to focus on what you're saying, you should make it about them. There's a higher likelihood they'll stop and listen.

Repeat to reinforce benefits

It's important to repeat your value props on all your platforms and distribution channels. You should also make sure to repeat it in your checkout pages. Cart abandonment is as high as 74%.

Repeating the message in your checkout pages, reassures the customer they're making the right decision. You can also use your social proof here to reinforce the message. It reduces the chances of the customer leaving before buying.

Show the value and benefits

Use your value props to show the benefits of what you provide, this makes it clear what your business does and helps consumers understand what you provide and make a decision to buy your products.

Your value props should answer the following:

1. What do you do?

2. What are the key benefits?

3. How is it unique/different than everyone else?

Do your research

Do the research and understand who your target audience is. Without it, you're not able to create impactful value props and properly position them.

For example:

Loblaw Digital was talking about scanning and adding groceries to the cart via phone before getting to cash. A new digital transformation feature. They provided this to all their Loblaw stores but later found out it wasn't being used.

Wrong target audience, where this would have been impactful was No Frills, more affordable food prices. Customers shopping at No Frills were embarrassed to go to cash and find they were over budget and had to remove items. They would have liked to scan and add times to their cart to see a total before going to the cash register.

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