Stand out from your competition: Value propositions that make people want to buy your products and services

Posted by Anya Sleezer << back to blog

Last Updated on June 15, 2022

Defining a compelling and effective brand differentiator makes even the savviest marketing directors swoon. Amidst endless meetings and to-do lists, who has time to step back and answer the most important question of all – Why should customers buy from you? That’s called a Value Proposition or VP.

The Value Proposition

A good business VP is actually the single most important statement you can create for your business. Without it, your marketing will be aimless, like driving without a map. Sure, you might be driving generally in the right direction, and eventually get where you’re going, but a good VP takes you directly to your target audience and converts them into customers.

A strong VP will also help your business:

Focus on the products and services that customers actually want
Save you time and money
Make your marketing more effective
Simplify and clarify your messaging

Studies show strong VPs lift conversion rates and sales, while weak value propositions stifle and eventually kill sales. It’s the first thing customers should see on your website and should drive all of your messaging.

Your VP combines all of the best reasons why someone should buy from you instead of your competitors. It’s the statement that sets you apart and describes what your brand means to customers. Most importantly, show case studies, reports and/or testimonials to support your claims. Why? Because, no one trusts empty promises. In fact, studies show only 11% of people trust advertisers. So, show customers how your products and services have worked for others. Give them proof.

Six steps to writing a powerful Value Proposition

While it sounds complicated, your VP is a clear statement about uniqueness, value and relevancy. Here are six steps that will help you create a powerful VP that will attract and convert more people into customers:

Write down what products and services you offer.Include everything you offer and the reasons you do it. (It’s an old family business, you came up with the idea out of a true need for something, etc.). We call the why your #RallyPoint. When you discover your #RallyPoint, harness and share it, customers will connect with your sense of purpose and become loyal supporters. Get the 4 Steps to Discovering Your #RallyPoint Guide here.
Describe your ideal customer or your target audience. This is important because your marketing ads should not be directed at everyone. Your messaging should be aimed at the heart of the perfect customer.
Make a list of all of the benefits customers receive from #1. Also, list the perceived benefits of what they’re getting. For example, if you offer financial services, a benefit is having lots of money for retirement. The perceived benefits are trust, security, peace of mind, pride, etc. Another way to answer this question is to describe the problems your customers have (without your business), along with how your product/services solve those problems.
Describe what makes you unique from your competitors. Do you offer faster, cheaper, better service, convenience, or quality products? Describe in at least one way how your brand is a better option than your competitors.
List the reasons people should believe what you’re saying. Be specific, use data and show proof. Do you have studies/reports? Maybe you offer a guarantee, offer free trials, or have strong testimonials, etc? Try to answer the questions “Why should people believe you?” and “What is the proof you’re better than your competition?”
Most importantly, ask your clients about the value they think you provide. Their answers might be very different than your own. Without this vital information, you are guessing what you think their needs and desires are, and then developing marketing around a guess. When interviewing your customers, it’s important you don’t comment or react. Ask the questions, listen quietly, and take notes. People usually say the most important thing first, so try to capture that, no matter how small it seems.

Ask customers:

Why do you use this brand?
How did you hear about it?
Why did you choose this business over others? (Reputation? Good price? Fast Service? Convenient/easy to use?)
How do you benefit from using our products or services?
Our company focuses on (insert answer ((women, convenience, quality…) How important is that to you and why/why not?
What is the single biggest benefit you get from using this product or service?
Is there anything we don’t offer that you wish we did? (What and why.)

Put it all together

Once you have completed the six steps, review your work and circle the benefits and values that customers can get from you and not your competitors. Those are your brand differentiators.

Next, circle the most impressive reason people should believe your messaging. That reason will convince them to buy.

One of the best value propositions I’ve ever seen is for Uber.

Safe, reliable rides in minutes

Uber has created a three-step visual that tells you the benefits of using it over a taxi:

One tap and a car comes directly to you
Your driver knows exactly where to go
Payment is completely cashless

And the proof they offer?

Put it to the test

More than a million people worldwide use Uber every week.

Value propositions need to be so clear and simple (like Uber’s above), it can be understood in fewer than five seconds. So, keep it short.

To test your VP, show it to others (friends, neighbors) and ask:

Do you get what our product/service does? (Listen carefully to the first questions they ask. They will tell you what’s missing or unclear)
Is our message believable? What makes you think so?
Do you think it’s true? (Have we provided any proof to our claims?)
Does it connect with you emotionally? In other words, you don’t want to sell them a financial service. You want to sell them security, a fulfilling retirement, freedom, peace of mind and happiness.

Follow these steps to develop a value proposition that will improve your marketing and drive customers to not just look, but buy. Of course, if you’re feeling stuck, we’d love to help you write a clear value proposition that you can use to win more sales. Visit Levo at golevo.com to learn more, or contact us at 918-899-3778 or info@golevo.com for a free consult.

Anya Sleezer

Anya Sleezer is the owner of Levo, a full–service marketing agency, focused on helping companies from all industries who are concerned with their marketing results, traffic, branding, advertising, or websites.

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