Is it time to re-think your brand strategy, are you relying on old branding and ideas to take you into the future?
Keeping a business running is all about knowing your customers and knowing how to give them exactly the products and services they most want and need. After all most businesses rely on repeat customers, so you really can’t afford to get it wrong.
Perhaps it’s time to reassess your value proposition. Meaning the unique innovation or service that only you can offer. And though the name sounds harsh, the concept itself is pretty easy to understand.
Value proposition is about strategy
Why should customers buy from you when you offer the same service or product as someone else? A good value proposition statement will answer this question.
What makes you better than your competitors? Why is the value from your company better than anything out there?
Your value proposition is your unique reason of why you are better than the competition and it explains the value you offer that makes people want to buy from you.
Imagine selling your product or service door to door. You have to physically go up to their door and ring the bell. You put on your biggest smile and then the door opens. You start to tell them about your product, they start to frown as they realize they are being sold to.
What can you say to make sure they don’t slam the door in your face?
Can you tell them that by using your service, they will save 15% or more on their car insurance? Or that they will be able to relax and unwind because of all the time and energy they have after using your product?
Entice the person behind the door to ask you questions. Intrigue them.
But then they ask, what about that other place that sells the same stuff? And you proceed to tell them why you wipe the floor with those “other guys”.
Give them statistics, testimonials, tell them what’s in it for them, and why they should switch from the brand they use now.
To determine your value proposition, decide which area of differentiation applies to your brand.
- What compelling reason can I give to customers to switch brands? Is your product bigger, better, faster?
- Will your business save your customers money, time or hassle?
- What about accessibility, ease of use or convenience? Are you a better option than what’s out there because you make is so easy for customers?
- Or maybe you are all about being the first one to come up with a product or service like this, maybe you are unique?
Need some help getting your brand strategy up to snuff?
Schedule your Distillery Session right now!