As you’re scouring the Internet, a nice-looking product catches your eye- do you continue reading past the headline, or do you move on?
If you continue reading about the product and all of its benefits, the person who wrote the article successfully communicated the company’s value proposition. Value proposition is the main reason people continue to read about your product, or move on to something else.
If you’re trying to make sales, or looking for crowdfunding backers to help fund a product- value proposition will become one of your best strategies for increasing conversions. Read on…
Value Proposition: A value proposition is a promise of value to be delivered and acknowledged and a belief from the customer that value will be delivered and experienced.
It’s not about what your customer can do for you, but, what you can do for your customer.
Your value proposition doesn’t solely have to be about your product. It can be about your company too. Perhaps, your potential client will want to buy from you because they like that you sell “green” products. This could be enough for a customer to choose your product over a competitor.
If you want to maximize your efforts in delivering value proposition to your potential customer, here’s how you begin:
1. List the problems your ideal customer may have without your product
2. List the benefits the customer will get from your product
3. List the reasons your product is different from your competitors
By creating a simple outline of your product benefits and product differentiation, you’ll be halfway through the exercise we’ve laid out to communicate your value proposition.
This step involves the art of communicating your value proposition to your ideal customer. Whether you’re creating content for packaging, your website, or a crowdfunding campaign, make sure you’re speaking directly to your ideal customer, through your unique value proposition.
Using the list you made from the first step, here are a few more “rules” to guide you towards a winning value proposition:
1. Make your statements clear and concise
2. Don’t overstate benefits with “hype”
3. Use headlines and sub headlines
4. Use a a balanced mix of text and graphics
5. Pretend you are speaking to your “ideal” customer
Take a look at this example-
We’ve composed an outline for you…from an actual product we launched on Kickstarter in April 24, 2015. These guys launched a while back, and the campaign did not meet its goal. Check out how going through the steps listed above, helped Cloop meet their goal the second time around.
The Kickstartup team went through all the steps outlined above and applied them to this product’s marketing strategy. Use it as a guide to help you communicate your own value proposition! You can download it here: Cloop 2.0 Value Proposition