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In marketing circles, the value proposition is often overlooked because of the urgency to produce lead-generation initiatives. After all, sales leaders want qualified leads immediately and will accept nothing less. What’s a marketing team to do?
Quite frankly, there is no easy answer. However, the search for a solution becomes clearer when marketing teams spend time defining what “value propositions” are and how to integrate them into their marketing.
Defining the Business Value Propositions
Business value propositions should answer the questions; Why do we exist? And, why would the customer want to purchase from your business instead of the competition? These help create differentiation.
Make a list of answers to these questions. The answers need to be different than your competitor’s value propositions in order for your value propositions discovery to be effective.
But don’t stop here.
Defining the Customer Value Propositions
Next, determine your customer value propositions. First, you should start by gathering insights about your customers. (Motivations for buying, buying habits, online preferences and any details that clearly define them). Their value propositions are the precious few things that align your business with them (the person). In many times, these can be emotionally driven. This emotional connection is very important since emotion is the secret to discovering buying intent. Emotional motivators described by HBR, “significantly affect customer value.”
Once you have customer value propositions identified, you know they are accurate when they are clearly defined, and proven to provide the greatest value for the customer. Documenting these and making sure your sales and marketing teams know them is very important.
The customer value propositions should be part of your marketing personas description.
Since customers are the revenue drivers for your business, take a look at them juxtaposed to the brand value proposition(s). See which ones are the same or very similar.
When the brand and the customer value propositions align and integrated into marketing, they will create a potent mix that resonates nicely with your target audience.
Define Where the Business and Customer are Different
We just discussed where the brand value and customer value meet and have similar value propositions. Here we need to identify where they are totally different. Why you ask? When the marketing team understands more about their customer, it helps to paint a clearer picture of who they are and aren’t.
Marketing strategy and content creation becomes simpler and more targeted when certain key messages are removed from the mix. The points of difference, once they are clearly defined should also be documented and communicated to all customer-facing employees in the company. Harvard Business Review calls these areas of difference as points of contention.
Value Proposition Convergence
When the convergence of customer expectations and brand attributes are being gathered and communicated to company constituents, the commonalities can reveal some very exciting trends that sometimes are not expected. These trends will help marketing and sales.
Monitoring your competitors can also reveal trends that can be helpful when looking for similarities and differences to help carve-out additional market strength and positioning.
It’s the differences that will help your business develop key messages in your marketing that also create separation from the competition. You want this. It’s interesting to watch what trends emerge and become clear.
Convergence is the critical point at which every business should be closely aware. Your marketing team should strive to analyze the hidden gems that are nestled within defining both customer and brand value propositions. You just might be amazed at what you discover.
Related Articles
- What is the Customer’s Problem You Plan to Solve?
- When Marketing Persona Meets Marketing Touch Point
- Rally The Brand Around the Customer
Scott MacFarland is a lifelong marketer with a passion for content, marketing, digital, social, web, video, analytics, and all things that lead to successful conversions. Scott is currently the Marketing Director for HMY Yachts in Jupiter, Florida.
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