Value Proposition: The Questions You Should Be Asking
“Value proposition” – it sounds intimidating. In truth, it’s as simple as determining what unique benefits you bring to the market. But once you’ve come up with that list, where do you go from there? That’s the question that intimidates many contractors and keeps them from moving to the next level. These four questions can help you take your value proposition from idea to reality:
- “Who is my target audience?” The right message to the wrong group will fail every time. Know your audience. Know your market. Who is your target demographic? Is there an income range or age-of-home list that you can cater to? Until you know who you are talking to, you won’t be able to effectively communicate your value proposition.
- “How do I express value proposition in my messaging?” Start with this axiom: “What’s in it for me?” That’s really the only thing your customers want to know. Whether it’s lower utility costs, more comfort or higher efficiency – you must tell them how your company gives them exactly what they want. Your value proposition must be supported by every other marketing you do, from the copy on your website, to the letter in the mail, to the CSR who answers your phone. Every step through the funnel should reinforce what you bring to the table for your market. The primary goal of your value proposition is to differentiate you from your competition – you won’t achieve that by being the same.
- “Where are my customers coming from?” This basically means that since your target audience has been identified, it is now time to go find them. It is important to understand the channels funneling customers your way. Once you have done so, you can then adjust your message as needed. Any marketing venue, whether online or offline, is a possible channel for your value proposition. To determine which areas to focus on, you have to know what you’ve done so far that has been effective. Do customers come to you primarily from your website? Are your direct mail campaigns generating the highest volume of contacts? How does social media figure in? If you’re not tracking your marketing, your marketing dollars could be going to waste. You must know how your various media channels are performing in order to have efficient and, most important, effective marketing and value proposition placement.
- “How does media choice affect my value proposition?” Location, location, location. It doesn’t just apply to real estate. Not all media play by the same rules when it comes to your value proposition. For example, let’s say that you decide to place your value proposition on the homepage of your website. This message should briefly introduce your company and then direct customers to the specific page they need. Yet if you place your value proposition in a display or PPC ad, your message should instead capture the customer’s attention and entice them to visit your website. Using your value proposition in other areas like product pages or offline marketing should instead entice customers to contact you, or give you their contact information. From this point, you can use their interest to set appointments, generate hot leads and convert to sales.
By answering these four questions, you can determine what unique things your company brings to the market and turn that into a marketing advantage. Plus, when you start with these questions, you’re ensuring maximum efficiency and results. Your marketing should be working for you, so make sure you’re getting the most from every available avenue.