Value is a word that has nearly lost its meaning. This five-letter word has been overused and abused by brands across every messaging statement, across every website page, across every sales email. The way we do business has changed and our messaging must change as well. Brands that truly offer value to their customers — and communicate that value in a meaningful way — are the ones that will weather economic storms. Brands that demonstrate how they are uniquely positioned to meet buyer needs are the ones that will be noticed while their competitors are overlooked. So now is the time to do something about your unique value proposition. That starts by understanding its definition, the necessary elements, and how other experts and brands are executing them in a meaningful way. A value proposition (VP) is a declarative statement that explains why a customer should purchase your product or service. The statement summarizes how you will deliver your brand promise and how your offering will deliver value to customers. It clearly explains what differentiates you, or makes your offering “unique,” and why you are the best choice on the market. When developing your value proposition statement:
Get to the point and appeal to your customer’s most pressing needs. Show why your offering is stronger than the competition so they can make an easy purchasing decision. Be honest and forthright to instill trust in your brand, so your customer stays your customer long after the transaction. Serve, don’t sell. The muse of your value proposition is your ideal customer (aka target audience). Which is why, when developing your messaging, “customer value proposition” is an important synonymous term to keep in mind. Why should your customer buy from you — not one of your competitors? Your value prop should answer that question concisely in the voice of your customer. Of all of the messaging statements out there, value propositions have perhaps the most variations with synonymous terms. Value proposition synonyms include:
What a value proposition is notIt’s common for content creators to use various messaging statements interchangeably because frankly, there is a whole mess of statements to keep up with. Additionally, content is subjective. Content marketers have various styles, approaches, and definitions of various brand statements. Being that the goal of a value prop is to create content that customers effortlessly connect with, you don’t want to cause confusion. The most common messaging mix-ups are brand statements and mission statements. Let’s clarify some things by detailing out these messaging statements. Value proposition vs. brand positioning statementThis is where the biggest mix-up occurs. If you squint your eyes just so, the words “proposition” and “position” look the same, even though they have completely different meanings. If someone uses “brand proposition” as a synonymous term for value proposition, then all hell breaks loose. A brand positioning statement is a persuasive one-line statement that captures the reason the business exists and the legacy the brand wants to be remembered for. This internal-facing statement aligns your team around your brand’s purpose. A value proposition focuses on your brand’s promise to deliver, rather than your brand’s purpose of existence. A positioning statement is created from the value proposition to bring in the deeper “why” or essence of your brand. Value proposition vs. mission statementConfusion happens between mission statements and value propositions, simply because the mission is a more prominent figure. A brand is much more likely to have an optimized mission statement… that they try to repurpose into other statements with different purposes. A mission statement might appear on the about page of your website for all to see, but it is very much about the internal perception of the brand. Your mission defines what you do and it is the core of your business. A unique value proposition is about external perceptions and it clearly states why a customer should buy your product or service. A value proposition can most certainly draw inspiration from your mission statement. In mere moments, we’ll explain and show how it can be an extension of your mission statement — and still maintain its structural integrity. A value proposition focuses on your brand’s promise to deliver, rather than your brand’s purpose of existence. #content #marketingtips Click To Tweet 4 elements of a value proposition that instills trustAt this point in the game, you have leveraged content to drive awareness to your brand and nurture existing and future customers. Then a wee pandemic comes along and you don’t know where you stand anymore as a brand. Suddenly, trust and value play a more prominent role for all of us. When making a big purchase, trust plays a major role for 92 percent of Americans, 89 percent of U.K. residents, and 95 percent of Canadians. Trust is perhaps another word we content marketers have exhausted as much as value. However, for customers to trust brands in today’s changing business environment, they must immediately recognize the value you offer. It’s a good time to revisit your value proposition. Make sure you are staying relevant in uncertain times and presenting a solution that is responsive to your customer’s current needs. Basic elements of a value proposition include the following:
Your unique value proposition needs to have meaning, otherwise, your customer will not connect with your brand or your offering. Without that connection, your customers will not have any foundation to build trust upon. Instead, they will turn toward someone else they feel they can trust, such as Competitors X, Y, or Z. So… how do you write an effective value prop? Five experts in the branding and content marketing space shared their perspectives on what it takes to master the unique value proposition statement. Learn from tried-and-tested themes and templates they have developed — and see examples that bring more context to these strategies. Value proposition examples: Extension of the core mission
TOMS Shoes value propositionWhen you’re buying apparel, it can feel pretty meaningless, right? Yet, TOMS Shoes turned purchasing shoes into a way to make progress. Using its One for One business model, for every pair of TOMS shoes purchased by a customer, the company provided a pair of shoes to a child in need. Just last year, TOMS moved away from its one-for-one model to instead give a third of its net profits to the company’s giving fund. During COVID, the donations have been redirected to support organizations on the frontlines. The name TOMS is short for Tomorrow’s Shoes. Improving lives and communities are the heart and soul of the TOMS mission statement. This company doesn’t just use their value proposition as an extension of their mission, they also extend their philanthropic nature into all aspects of the business. And, their customers get to be a part of that. Value Proposition
Value proposition examples: Short, punchy, and powerful
Glo value propositionWorking out from home has suddenly become the new normal. Glo (formerly known as YogaGlo) launched in 2007, long before subscription-based online fitness classes were a thing. Convenience and expertise are big perks for busy wellness enthusiasts. Glo subscribers take unlimited classes virtually for the cost of a single studio class. This has always been Glo’s differentiator in the wellness space, as their model makes yoga widely accessible. Throughout COVID, they have provided a selection of free classes as well. Glo has an entire manifesto that incorporates its mission and vision statements… …yet, Glo keeps its value proposition short, punchy, and powerful while demonstrating how their unique business model helps them stand out in the wellness market. Value Proposition
Value proposition examples: Delivering with distinction
Alaska Airlines value propositionHumor me for this next value proposition discussion, as we harken back to pre-COVID times when we all used to travel by plane. Flying is a royal pain in the ass, and we just want to safely get from Point A to Point B. It’s not common to hear people say they love an airline. But, I’ve said “I love Alaska” many, many times. This is what makes Alaska so distinct — and what makes them stand out from other airline carriers. Passengers legitimately love this airline. People who fly on Alaska can actually agree with their tagline: “Fly Smart. Land Happy.” They are delivering on their brand promise to their customers. Alaska Airlines focuses on being a socially responsible company that is all about quality and care. In the midst of the COVID pandemic, Alaska’s home page demonstrates their commitment to relationships in being “on the journey together.” They put their customers at ease with the second section of the page, which has a slideshow with safety and wellness features. Value Proposition
Value proposition examples: Voice the value
Zoom value propositionRaise your hand if you’ve been on a Zoom call this month. How about this week? Everything from birthday celebrations to live educational classes — along with a substantial uptick in virtual meetings and events — is now happening on Zoom. “With any other solution, I spent a great deal of time trying to start the conference, let alone maintain it. Zoom has made the experience of collaborating with people as simple as clicking on a link and zipping right into the conversation.” Zoom is on a mission to make video communications frictionless. The aforementioned testimonial by Dr. Joseph Morgan, Texas A&M University validates their platform’s ease of use. As communication has shifted from in-person to digital environments, Zoom has become a huge value-add for people who want to stay connected and have some semblance of face-time during COVID. The “frictionless” value is clear, as people who have never used Zoom before are rapidly well-versed in the platform. Value Proposition
Value proposition template: Content mission statementLastly, I will leave all of you content marketers in good hands… with Andy Crestodina. Your content mission statement is a type of value proposition — one that is very often forgotten by busy content creators. Andy shares his thoughts and a useful value prop template…
Creating your value propositionAlbert Einstein’s words continue to be relevant a hundred years after his time: “Strive not to be a success, but rather to be of value.” By striving for success, you fall into the brand camp that exhaustively weaves the word “value” into every possible opportunity — so that the word eventually loses its meaning. By focusing on being of value, you show value without needing to talk about it. Rather than having a value proposition that has no meaning, you have a meaningful statement instead. Creating a value proposition statement is yet another creative chance to use the “show, don’t tell” approach to writing. String together words that create an immersive experience for your intended audience. When you allow your audience to be in the room, you establish credibility and connectivity… and invite them to stay and do business with you. When you allow your audience to be in the room, you establish credibility and connectivity... and invite them to stay and do business with you. #valueproposition #contentmarketing Click To Tweet More popular posts:
Which of the following best describes a value proposition?Which of the following best describes a value proposition? It is what a business provides to a customer and what the customer is willing to pay for that product or service.
What is meant by value propositions?A value proposition is a statement that clearly identifies the benefits a company's products and services will deliver to its customers. A well-crafted value proposition will differentiate the company and/or its specific product or service in the marketplace and among a target market or target audience.
What are the 4 elements of a value proposition?The value proposition spectrum: primary, prospects, products, and process.
What defines a value proposition quizlet?Value Proposition: A statement that summarizes the key benefits or value for target customers. It explains why customers should buy a product, why stakeholders should donate, or why prospective employees may want to work for an organization.
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