The confusion lingers…
Let’s get it straight from the start.
A Value Proposition [aka market message] is a succinct statement that a company uses to summarize the core benefits or promises of a specific product, service or offering, and why a specific consumer set should buy it.
It is designed to help maintain an economic moat [aka competitive advantage] by persuading a consumer that it will add more value or better solve a problem than similar offerings from competitors.
It IS NOT an enduring overarching brand proposition, statement, strapline, promise or purpose.
As such it is transactional, like the offering it supports, and tactical.
Therefore, because over time the target consumer segment changes or what the organisation thinks its value proposition is, shifts away from what consumers think it is, a value proposition should be constantly surveyed and adapted accordingly.
There are many different ways to approach the creation of value propositions, some of the better ones we cover off in our workshops.
But some key tips are:
- Be specific and communicate value – yep it’s obvious. So much so it’s often forgotten. Look at various value propositions and see if they truly explain what the offering actually does and how it solves consumers problem or improves their situation.
- Don’t propagate like amphetamine-induced rabbits – let your heroes do the work. Why waste time trying to create value propositions for every offering, it dulls the reader, erodes credibility and won’t stand out. Create outstanding value propositions for leading offerings and let the hallo effect permeate all else you do.
- Forget ‘unique’, you ain’t, but be distinctive and avoid comparisons against specific competitors – not only is it poor form, but why give them a free point and place them on the consideration list against you.
- Be honestly convincing – don’t make claims that aren’t true [that will kill you] but know why your offering is truly distinctive and say it loudly, proudly and smartly.
- Talk to your consumers – that’s right, know who they are, why your offering truly appeals and say it in ways that they understand and appreciate.
- Be succinct – if you can’t explain why your offering is different and better in 25 words or less ..it’s not! And if this is the case, you should definitely give us a call because that opens up a completely new raft of issues.
Were planning to create a Value Proposition Play Book over the coming months, so if you’d like to know more or be sent a free pre-release edition drop us a line and we’ll add you to the list.
If you have any questions relating to this blog article or would like some more information on LOCKE pty ltd, our services or specific products we have created to assist with marketing + brand + strategy initiatives, please give us a call or drop us a line – our initial consultation is free of cost and obligations.
Business Hours: 7:30am – 7:30pm Mon – Fri [weekends as required].
LOCKE pty ltd: 111 Flinders St, SURRY HILLS NSW 2010, AUSTRALIA