There is a common problem in the B2B space, particularly in the world of tech, where you can scroll through an organisation’s entire website and still not have a good idea of what sector they’re in or what they’re actually selling.
This in large part is a result of a poor proposition, which should be used to drive all communications, explaining your key reasons for existing and the value which the brand offers.
In the video below our Notepad founder Naeem Alvi explains how to approach the challenge of developing a perfect proposition, helping to position your company as the obvious choice.
We highly recommend checking out the link as there’s some fantastic examples and visual aids which will help to deepen your understanding, but in this blog today we’ll be providing a quick overview.
If you’d like to supercharge your organisation’s brand or just explore your options then you can get in touch with our Client Services Director, Juliette Neault, using [email protected]
So to kick us off, what exactly do we mean by a value proposition?
“A concise statement of the benefits that a company is delivering to customers who buy its products or services. It serves as a declaration of intent, both inside the company and in the marketplace.”
Value props first appeared in a McKinsey & Co. industry research paper in 1988, which defined it as “a clear, simple statement of the benefits, both tangible and intangible, that the company will provide, along with the approximate price it will charge each customer segment for those benefits.”
And what is the cause of poor propositions?
- Getting lost inside the business, sometimes you need fresh perspective
- Not grasping the target customer and losing sight of their needs
- Trying to be everything to everyone and not focusing on a target audience
- The proposition makes sense so you think it makes sense to everyone
- It works for some audiences so you think it’s effective, but it excludes others
- It’s too similar to the competition
Getting your proposition right is imperative as it helps to define what makes your organisation unique, persuades audiences to make a purchasing decision whilst building their awareness, aligns your marketing efforts and gives total clarity to everyone who interacts with your brand.
What are the key ingredients of a perfect proposition?
- Tell customers the number one reason why a product or service is best suited for that particular audience – this should be compelling and clear, helping to capture attention
- Should be communicated to customers directly, either via the company’s website or other marketing or advertising materials – many orgs keep their props as an internal statement to guide teams but it’s vital that it’s public facing and engaging
- Be distinct. Value propositions can follow different formats, as long as they are “on brand,” unique, and specific to the company in question – don’t just copy other brands, speak in your own voice
- Should be persuasive and help turn a prospect into a paying customer – it should meet their interest and level of understanding to move them along their purchasing journey
Unfortunately, in our line of work we see quite a few ineffective propositions (Although we are on hand to put them right), so what are those mistakes…
The 3 most common proposition fails, and how do you avoid them?
- Overcomplication – Don’t say too much, think about who your customers are and what they need right now, rather than getting carried away with your long-term vision
- Focussing on “we” and not “you” – It is far more engaging to show your audiences that you empathise with their challenges and possess a powerful solution
- Swimming in a sea of sameness – don’t fall into the trap of looking and feeling the same as your competitors, or the market giants, as you feel like it’s ‘the done thing’. Be individual and own your proposition
Recognise these warning signs and consider if it’s time to explore your proposition.
What is our 4-step process for actually nailing your proposition?
- Nail you 3 Cs – Be clear on your target customers, your competitors and your company i.e what makes you special. Start by looking at your company and your strengths, then analyse your competition then finally have conversations with your customers to understand their priorities
- Know your customer – Even having thought-provoking, honest interviews with your customers isn’t enough. Interviewees may not think of an answer at the time, or may not even be conscious of a challenge they face. Brainstorm every potential pain point your audiences may face with your team, and conduct online research to create more in-depth profiles, platforms such as Reddit can be a goldmine for information.
It’s also crucial that you understand how aware your audiences are of your offering, and the journey they take towards becoming a paying client/ customer. Again, we highly recommend watching the YouTube video , if you aren’t already, as Naeem breaks down the 5 stages of awareness in detail at the 45:18 mark.
- Problems and pains – After you’ve already tried to list out all of your customer’s problems, select the top 5 and then craft these into top-level propositions. Share these propositions with your customers, especially ones you’ve already had conversations with and see which ones resonate.
- Test and test again – Share content tackling those top 5 problems frequently to gauge people’s replies, try cold outreach using cold email or Linkedin to see if your proposition is clear. A/B test different propositions in email subject lines, ad creative, and in your website header, and view HotJar recordings to see which proposition has the lowest bounce rate.
We hope you’ve learned a lot about crafting propositions today, here are our final words of advice to round up what we’ve covered, helping to make your proposition informed, engaging and effective:
- Understand customer maturity
- Focus on value you deliver, not just what you do
- Continually speak to your customers
- Always be testing
- Make decisions based on data, not guesswork
If you’d like to elevate your organisation’s proposition, and get a world-class brand to go with it in less than a month, take a look at Notepad’s tried and tested Evolve brand sprints. Let’s unlock your brand’s potential together. https://notepadstudio.com/evolve-brand-sprint
Thanks for reading.
