There are different definitions of a brand. A brand encompasses the logo, the building, the product or service, and the relationship between the company and the customer.
A brand is all of that and more.
However, I found this definition of a brand to be accurate, powerful and all encompassing.
A brand is a promise made.
And according to Bea Perez, ”a great brand is a promise kept”.
So, what’s your brand? What’s the promise you are making to your customers?
Your promise is essentially your value proposition. And your value proposition, according to David Ly Khim is ”a statement of how your product or service will benefit your customer”.
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How and Where To Communicate Your Value Proposition
Ok, so you might be wondering, how does this affect my business? How will a value proposition get me more sales?
It’s simple, communicating a powerful value proposition on your website, your content, your social media channels, and any other marketing communication tool you employ, will help you achieve the following
1. Get your target market’s attention
2. Increase your customers
3. Generate revenue for your business.
Both companies sell the same thing – email marketing software. But I bet you are more likely to use MailChimp over MailGuru.
Why? Simple. The difference is in the value proposition.
MailChimp’s value proposition is – Build your brand. Sell more stuff.
While MailGuru’s value proposition is – create and send beautiful emails your customers will love.
Both companies are targeting marketers. And you dont need a survey or analysis to tell you that every marketer’s primary goal is to sell their products and services.
And MailChimp clearly communicates that that is what they will achieve when they sign up free
How To Develop A Powerful Value Proposition
So, how can you create a powerful value proposition that gets you customers?
Let’s take a look at some of my favourite brands.
What they are selling: Gift Cards
Who their target customers are: Anyone that has a family or friend
The benefit to the target customer: Customers have the freedom to send the perfect gift to friends and family.
Their value proposition: Send Gift Cards to Friends and Family in Nigeria
What they are selling: A search portal
Who their target customers are: Anyone that needs to find anything in Nigeria
The benefit to the target customer: A simpler way to find information in Nigeria
Their value proposition: Search ConnectNigeria for businesses, jobs, events, deals e.t.c.
What they are selling: A platform that allows people save
Who their target customers are: Anyone that wants to save money
The benefit to the target customer: A discipline to save their money
Their value proposition: The Only Secure Service That Really Makes You Save
What can you take away from the examples above?
A powerful value proposition must have the following components
1. A powerful headline
2. A sub-headline
3. The key benefit to the customer
4. A call to action
5. A supporting image
Where To Place Your Value Proposition
Your value proposition should first be on your website’s home page.
Then, you need to strategically include it in every marketing material you have (it is important to be consistent in your messaging across all your marketing channels)