There’s Nothing Fishy About A Good Value Proposition
If your competitors sell similar products and services, how do you develop a value proposition that distinguishes you from them? Taking a turn off-topic, marketer Austin McCraw looked to sushi for answers.
Who knows how many contractors are actually sushi fans. But partakers or not, the growing fascination with this odd rice-and-raw fish dish does speak to the idea that anything can grow into a brand with a value proposition. McCraw explained this concept like so:
Sushi is a menu item turned into social phenomenon. But trendy sushi bars turn it into a brand by serving it up with packaging, delivery and experience. Thus, the “value proposition” doesn’t come from the raw product but the way it is received.
Similarly, contractor equipment is a commodity. Except in marketing, it’s not. That was McCraw’s point. In marketing, nothing is a commodity. Any product can have a compelling value proposition when its packaged within a solidly good experience.
Your value proposition is a promise of the value you deliver. Within this proposition, you explain how your products solve customer problems or improve situations, what benefits they receive and why customers should buy from you and not your competitors.
Contractor value propositions could center around these areas: “Our prices are lowest.” Caveat: low-priced leadership has obvious disadvantages, including more work for less profit. Or “Our products are best.” Possibly, unless you’re selling the same products.
Or “We make it easier for you to run your home.” Lots of benefits support this, to name a few: reliable service, convenient appointments, increased comfort, technological conveniences, financing and improved home. Basically, focus on the extras that create a solidly good customer experience and satisfied repeat customers.
McCraw says it’s our job as marketers to figure out how to take a common event (tune-ups, perhaps) and figure out how to deliver a superior experience.