Define a clear and powerful customer offering
We recently created a new element to add in to our workshops which focuses on defining your value proposition.
This is another way of saying “why people buy stuff from you” or “why people invest in you”. I.e. – very important stuff. Introducing this section into our methodology helps you to identify your most valuable customers, which will subsequently enable a more targeted approach to branding and messaging.
This week, Life Size Media CEO Alisa Murphy shares how to make the most of a value proposition, and how to make the value you offer to customers clear.
To catch up on other topics in our branding series; you can read the blogs and watch the videos here.
What makes a good value proposition
The value that you bring to your customers should be quantifiable, backed up by evidence and should provide tangible business benefits. You need to be able to explain it concisely to the customer in a few short sentences.
What you’ll need to express is:
- The vision
- The claim
- The evidence
It’s worth noting that they will usually be implicit – as we will demonstrate below. Take a look at Hitachi’s value proposition for their content platform:
- Their vision is clear: to provide one safe and easy-to-use solution for their customers.
- Their claim is bold: that they can bring extra value by bringing old and new technologies together, securely.
- Their evidence is abundant: advantages, specifications and resources are all readily available.
Get your customers up the priorities list
For this task you really need to know your customer and what they want. So if your customers aren’t already front of mind – it’s time to get them there. This will make it much easier to define your value proposition.
To help… try answering these two questions:
1. What is my customer’s problem? (Vision)
2. How do I solve it? (Claim)
Once you know how to solve their problem, you also need to consider the following questions too:
- Why should they choose you over competitors? (Claim)
- How can you prove that you can solve their problem? (Evidence)
The aim is to find the drivers that will bring customers to your business. Then once you find them, it is imperative that you put them at the centre of everything you do, especially your brand and communications.
LSM’s value proposition
The work we do helps our companies find their why and answer the above questions ↑. It has the power to transform their communication techniques and often results in business successes.
…And if you haven’t noticed, we aren’t shy about shouting about it! We make sure we put this value proposition at the centre of our communications.
Hobbs’ value proposition: selling to Alisa
Here’s another way in which we can delve a bit deeper into what makes a REALLY good value proposition, it should ideally have 3 drivers: practical, economical and emotional.
We can illustrate how this works with a value proposition example from Alisa’s life. She buys almost all of her clothes from Hobbs. Why? Three reasons:
1. The clothes fit her perfectly and she can wear them everyday (practical).
2. They are pretty expensive but last for years (economical).
3. They fit with the “professional but contemporary but professional European businesswomen image” that she likes to project (emotional).
So…what’s your value proposition? The first step to getting this right is being really clear yourself about the value you offer to consumers.
Need some help working out the first steps? Go to our workshops page to find out more about how we can help.
When have you ever seen Hobbs and cleantech in the same sentence? Find out how they link with this video:
This is the fourth episode of our video series: How to build a successful brand. We’ve taken our core branding methodology and packaged it up into this 6-step series that will give you everything you need to build your own successful brand. This process has been developed and honed to perfection over the years, helping many cleantech companies achieve their commercial goals. All words of wisdom are from our knowledgeable CEO and brand expert Alisa Murphy.
Most of the steps we’ll go through will involve practical exercises to take back to your team and work through in order to develop your own brand and communications. But Alisa will also talk you through the theory of what we do and we hope it will help inspire you to make brand and communications a priority; because we believe that they are fundamental to commercial success.