Have you ever asked someone what exactly their business does? If you have, did their response sound like a confusing string of sentences? You may have picked up on a few keywords, but are still unsure of exactly what it is that they do. If this is you, then it’s likely that the individual isn’t communicating their value proposition very clearly. So how are you supposed to spread the word about your business if people don’t understand what you do? Well, from the example, you can see it all comes down to effectively communicating your value proposition.
What is your value proposition?
In the simplest terms, your value proposition is essentially the main benefit customers will receive by using your product or service. It is meant to convince your target audience to choose you over your competitors. The bottom line is this – you want your value proposition to differentiate your particular offering from that of a competing company.
How to craft your value proposition.
Given its purpose, an effective value proposition should address the following three questions:
What pain point does this product or service solve for customers?
What are the details of this added benefit? How does it achieve the above?
Why is your offering better than others on the market?
If you can answer each of these questions in a clear and succinct manner, your target audience will be well on its way to understanding your business.
Why your value proposition is so important.
Your value proposition basically describes what you are going to provide and how you will provide it. This can form a solid foundation for all of your marketing messages. In fact, it creates a center of focus which helps to maintain consistency across your campaigns. There are many places where this will become useful. For example, your main homepage or any other landing pages are great places to display your value proposition.
Here’s how you can communicate your value more effectively.
There are many steps you can take to improve your current value proposition. Consider the following suggestions.
Keep in mind your audience’s perspective. The first step is to think about who you’re trying to reach with your message. Without an audience, you won’t know how to best craft your message. Think about the problems the audience is facing and how your offering can solve them. This way, you can understand the value your audience is receiving as opposed to the value you are receiving.
Speak in the audience’s language. You don’t necessarily need to speak different languages here, but translate the product features into the benefits received by an end user. For example, don’t just highlight all the specs about each feature. Rather, talk about the problems and the real-life benefits that the user will experience by using each feature.
Keep it concise and focused. Remember, we want people to understand your message. You’ll want to be able to explain this in just a few sentences at most. After all, if you can’t clearly communicate your offerings, how will your target audience ever understand it? Sure, you can wait for people to try the product and realize the value for themselves, but there are better ways to do this. Ultimately, your marketing efforts will likely be underperforming if users are confused about the value you’re offering.
If you incorporate these three suggestions, you are bound to improve your value proposition. An additional tool to help you incorporate the steps above is called the buyer persona. This will help you better understand who exactly you’re trying to communicate with. In addition, it will help you identify the character traits of various target segments so you can cater your message to each. Understanding your buyer personas can really help you deliver the right value message to the right target market.
Keep learning about all the ways Rich Dad Education can help you reach your goals.
Learn more by attending our upcoming free interactive Online Training! Register Here VIDEO
Want the live experience? Attend an upcoming free workshop coming to your area! Register Here
Browse through our Rich Dad Education reviews by clicking above!
Founded in 1992, Elite Legacy Education is a recognized global leader in quality financial education. Legacy Education Alliance, Inc. is a leading provider of educational training seminars, conferences and services. Rich Dad Education offers real estate & stock training based on Robert Kiyosaki's book Rich Dad Poor Dad.