The Key to Building A Strong Value Proposition
In our experience as consultants, one of the biggest mistakes a company makes is failing to build a strong value proposition marketing strategy. A value proposition is crucial to building strong sales and marketing material for any B2B company. It influences your prospects decision on whether to bother to read more about your product.
Businesses must convey their value proposition clearly on their landing page to capture the attention of their prospects and help them understand their companies competitive advantage.
To help you build a strong value proposition, we have broken down the process into four simple steps.
Describe the pain/challenge your prospect faces
Begin by brainstorming about the challenges your prospect is currently facing without your product. Try to find ways to describe their frustration. Take a few minutes to think about:
- What currently frustrates or annoys your prospects?
- Is there something that is hampering the performance of your prospects?
- What is a common mistake the customer makes? Is there something that they are doing inefficiently?
Different target groups could have different pains. If that is the case for your business, feel free to come up with multiple pains or challenges. Create multiple landing pages for different target groups. Moreover, if you are unsure what pain/ challenge your prospect will resonate with be sure to A|B test the different statements.
Explain what your product is
Once the potential consumer recognizes that you have understood their pain. They want to know what your solution does to help them overcome that challenge. In a short sentence try to explain what you do. Try to make this sentence as easy to understand as possible.
State how you do it
Now, that the prospect has understood what you do, they want to understand how you do it. In simple words explain how you solve the pain of your customer. You could do this by:
- Listing key features
Explaining the process of your solution
What is the ROI (Return on Investment) for your prospects?
Now let’s talk numbers. Instead of making your prospect guess how they will be getting the return on their investment, clearly, state what they will get in return. You can do this by listing figures on how they will be:
- Saving money
- Reducing cost(s)
- Saving time
- Reducing risk(s)
- Increasing turnover
Before finalizing your value proposition, make sure:
- Your value proposition is clear and easy to understand.
- Your prospects can read and understand your product/ service in less than 10 seconds.
- It conveys the benefits your prospects will gain from your product/ service.
- You tweak your value proposition for different target groups.
- You A|B test your value proposition to ensure it resonates with your prospects