Kris Clark Marketing Consultancy

Category: Value Prop series

  • Value Prop series: Reasons to believe

    Value Prop series: Reasons to believe

    One of the many pitfalls and traps is that (we) marketers love to use pithy phrases and abbreviations for things. Which often get interchanged and yet don´t mean the same thing. As part of the value prop series I am going to cover reasons to believe versus unique selling points.

    Both actually support the value proposition and all need to be true, interrelated and feed into each other. You can´t have a reason to believe that doesn´t relate to the core value.

    These two key concepts play pivotal roles in influencing consumer decisions: “Reasons to Believe” (RTB) and “Unique Selling Points” (USPs). While they both aim to convince customers to choose a product or service, they operate differently and serve distinct purposes.

    Reasons to Believe (RTB):
    RTBs are the supporting pillars of your brand’s promises. They answer the critical question: “Why should I believe what this brand is saying?” Essentially, RTBs provide credibility and validation for the claims you make in your marketing efforts. They are the evidence that backs up your assertions.

    Evidence. True, honest, authentic this is why you can believe what I am telling you. Do not say you have homemade soup and then open a tin (channeling my inner Gordon Ramsay there).

    Unique Selling Points (USPs):
    USPs, on the other hand, are the qualities or features that set your product apart from the competition. They are the unique and distinctive aspects that make your offering stand out in a crowded marketplace. USPs answer the question: “What makes this product different and better?”

    Distinctive, unique – what is the one key thing you do differently.

    The key differences can be summed op in Focus, Purpose and Timing.

    Focus: Reasons to believe focus on building trust and credibility by providing proof; Unique selling points focus on differentiation.

    Purpose: RTBs support the claims made in the marketing messges, USPs define the unique advantages of the product.

    Timing: RTBS typically come after the initial message to back up the claim. USPs are presented up front as attention-grabbers.

    While both Reasons to Believe and Unique Selling Points are vital components of effective marketing, they serve distinct roles in the process. RTBs establish trust and credibility, while USPs set your product apart and entice customers with its unique benefits. Both are important – both.

  • Value proposition series: When Should You Develop Your Value Proposition?

    Value proposition series: When Should You Develop Your Value Proposition?

    A value proposition is a magical statement that can make or break your business’s success. You´ve heard how crucial they are, but: when exactly should you spend time and creative effort to create that perfect value proposition? 

    Spoiler alert: preferably at the start of your business. Just like business goals a value proposition should help align, well it´s in the names – the values of your business. 

    It´s tempting to rush into the business with the elevator pitch (especially when looking for funding) but take a few moments to write down what, when, how & why. 

    Your value proposition is a business blueprint – it lays the foundation for everything you do in your business – from marketing to sales and even customer support. By developing it early on, you’ll have a clear direction and a powerful message to convey to your target audience.

    But don´t shoot into the air with an ´aspirational´ guess – get to know your potential customers inside out – their pain points, their desires, and what makes them tick. Find the secret code that unlocks the door to their hearts.

    But wait you say – not aspirational? Correct. First things first. Lay the foundation. When you start growing then fine-tune, tweak. You can´t build the penthouse first even if you dream of it. Conversely, before embarking on new pastures – review and revise.  Different markets have different needs and preferences, so your proposition might need a bit of tweaking to charm your unique audience.

    Also when things are down – don´t abandon but review and revise. If sales stagnate or your once-enthusiastic customers seem to be losing interest, it doesn´t mean that you need to turn around and create something new – it could be a sign that it’s time to dust off your value proposition and give it a much-needed makeover.

    Remember, as time goes on, customer preferences change faster than you can say “innovation.” What worked like a charm yesterday might not cut it today. By revisiting your value proposition regularly, you’ll keep it relevant and captivating for your audience.

    Use your value proposition as the touchstone for marketing, sales, innovation, personnel (hires), and growth. 

  • Value Proposition series: First – understanding what they are.

    Value Proposition series: First – understanding what they are.

    Value propositions are important and can be crucial in helping to create business goals and define strategy. But what are these and how do you arrive at them? A short new series on these often confusing terms.

    First up : what do we mean by the words ?

    A value proposition is a concise statement that clearly communicates the unique value and benefits that a product or service offers to its target customers. It serves as the foundation of a company’s marketing strategy and plays a crucial role in capturing the attention of consumers and driving their purchasing decisions.

    Words are important. And the first rule of communication is that between the sender and the receiver there is noise. This means that what we think we are saying, isn´t necessarily what we are saying and definitely not always what someone else hears.

    A compelling value proposition helps differentiate a product or service from the competition. A well-crafted value proposition highlights the unique selling points of a product or service, showcasing how it is distinct from others in the market. By clearly communicating the benefits and value that a business provides, it captures the attention of potential customers and compels them to consider the offering.

    A value proposition serves as a guide for effective communication. It provides a consistent and coherent message that can be used across various marketing channels, including websites, social media, advertisements, and sales pitches. This consistency ensures that the intended value is effectively conveyed to the target audience, reinforcing the brand’s positioning and establishing credibility.

    A strong value proposition helps address customer needs and pain points. By understanding the specific challenges faced by their target market, businesses can tailor their value proposition to highlight how their product or service solves those problems. When customers can see a direct connection between their needs and the offering, they are more likely to choose that particular solution over alternatives.

    So before getting into ´aspirational terms´ go back to basics. Ensure that everyone involved is identifying the same things with the same words and use them.

    What does my business stand for? What do I feel when I say that? What do I want others to feel? What am I proud of? What do I want to tell?