Tell your customers why you’re the one: top 3 reasons to utilize value props in your marketing
I recently saw a LinkedIn post that said, “Marketing is like being asked out on a date and branding is the reason why you say yes.” To non-marketers, branding is viewed simply as logos, color schemes and images, but when you peel back the layers, branding is about much more—it is about communicating value. Specifically, it visually depicts the value of your offering and gives your target customer insight into why they should engage in a relationship with you.
To build an effective brand that connects with your target customer, start with a strong value proposition statement. What is a value proposition statement? It is a single, simple message that communicates the promise you are offering to the customer. It helps your brand stand out, focuses on the solution you are providing and ultimately, gives a compelling reason why they should purchase from you. The value proposition statement is part of your broader marketing strategy and acts as a guidepost to convey the value you will deliver to your target customer. It also provides a foundation to the team who will work with you to bring your vision to life.
Before you jump to designing a logo and selecting your color scheme, here are three essential reasons why you should start with the development of your value proposition statement:
It helps you describe your value with focus and clarity
When you launch a business, sell a new product or service, or plan an event, you know the reasons why you are embarking on this journey and the value that you bring to your customers. You set goals that may include driving awareness of your offering or meeting revenue or attendance goals, but does your target customer understand your value? Your value proposition statement brings everything into focus and provides the ability to clearly communicate your value.
Makes the case for why your target customer should buy your offering
During the launch phase of a new business, you are focused on completing each task associated with the launch of the product or event. The customers’ wants and needs become an afterthought. We forget to think about the customers’ pain points, the problem we’re trying to solve, and how the customer will benefit. The value proposition statement makes the connection between what we are offering and the customers’ needs. It is a clear statement that communicates what makes your offering unique, defines your target audience, and defines the benefits of your product or idea.
Provides guidance to your vendors and team
You will be faced with hiring consultants, vendors, and staff. In this scenario, you are anxious to start raising awareness of your endeavor and one of the first thoughts that should come to mind is the need for a logo. So, you hire a graphic designer, and they ask you a series of questions that you struggle to answer. The designer needs to understand your goals for the business, the value you want to convey, and the audience you are targeting. All of this will inform the development of your logo in terms of how it will look because it will be a visual representation of your value. Establishing a value proposition statement will provide the right context and a solid foundation for the graphic designer so they can create something that is aligned to your mission, vision, and goals.
From the bigger brands such as Apple to smaller ones like Etsy, they all leverage their strong value proposition statements to attract their target customers. For example, Etsy’s value proposition is built on their promise to be a marketplace that enables buyers and sellers of unique, handmade, and vintage items to buy and sell on their platform. The statement clearly defines who they are, how they are different, and the value and solutions they provide to their audiences.
As a business owner, I understand the challenges of launching a new business, product, or service. It is a juggling act to manage it all. However, a clear value proposition statement will provide you clear direction that will help you move faster and with more focus.
Launching a new business can be both an exciting and a daunting endeavor. It's hard work, but you’re building something that can change the world. The path to turn a vision into reality can be filled with unknown variables, but with a keen understanding of the foundational principles necessary to launch, it can put you on the path for success.
To learn more about how we can help you build your vision, contact us today