Value Proposition that Resonates

Posted on March 20, 2011

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In an earlier blog entry I had argued that the primary job of any marketer is to engage customers to increase their awareness of and generate interest for the business’ product. Implicit in the previous statement is the assumption that the marketer knows and consistently delivers the value proposition that sparks a customer’s interest and propels her to buy the product. Unfortunately to make such an assumption about most marketers is a big mistake. Marketers usually have a vague idea of what their product’s value proposition is or they simply take directions from somebody else (Sales, Engineering, Executive Management) on what it should be. Value proposition is the foundation on which rests the entire communication strategy and more often than not this foundation is extremely shaky. (P.S. The term value proposition is often shortened to position).

I found this extremely insightful presentation by Dr. Flint McGlaughlin of MarketingExperiments.com on the topic of discovering value propositions that resonate with your customers. In the presentation, Flint uses a couple of case studies to highlight his 5 step process to develop value propositions that resonate. Some of the key points that he makes in the presentation are:

  1. Value proposition is not something that a marketer determines; a marketer discovers the value proposition that resonates with his target customers.
  2. Marketers must follow a rigorous A/B testing protocol to determine which of the different possible value propositions best resonate with the customers.
  3. Marketers must translate the identified value proposition to a single statement that adequately reflects the appeal, exclusivity and credibility of the value proposition.
  4. Marketers must integrate the value proposition in all their communication pieces. Specifically for digital assets like website and email, marketers must ensure that proof points, supporting stories and illustrative images help reinforce the value proposition.

The presentation is an hour long but I can confidentally say that you would have invested your time wisely in reviewing the presentation. Listen to the presentation and come back and tell me if it helped you and if it did how did you indeed apply it to your problem. 

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Posted in: On Marketing