Knowing the answer to this question is the cornerstone of a solid value proposition to attract potential customers. Many companies make the mistake of describing their value proposition as a long list of their capabilities and details about their solutions. This information will obviously be important later in the sales cycle, but it’s not relevant when a potential buyer is surveying the market. Instead, potential customers want to know what problems you are going to solve for them. The details come later. Remember, it’s not about you, it’s about your customers.
You only have a few seconds when a prospective customer sees your landing page, advertisement, or website. What you say on these pages is critical to capturing and keeping a prospect. A strong, relevant value proposition helps you to quickly build relationships, establish expectations, and win against competitors.
Each value proposition statement must be compelling, clear, and targeted at prospects in your particular market. It must answer the following questions:
- What problem does your product or service solve or improve?
- What benefits can customers expect from you, depending on their personas?
- Why should customers buy from you over your competitors?
Working together with your sales and marketing teams, ask your existing customers for answers to these questions and distill the information to make your value proposition clear to your target prospects. Making it a common, consistent theme across all your customer touch points will help with sales effectiveness, repeatability, and ROI.
Your value proposition will change over time as you and your customers adapt to market forces. Keep it current and always ensure your company knows why your customers buy from you.
Access our on-demand marketing enablement trainings in SAP’s SME Marketing Academy to get more details on value proposition and other key digital marketing topics. Sign up for a session in our Partner Benefits Catalogue or get one-to-one support to develop your value proposition that is 100% MDF reimbursable.