“The value proposition is what makes customers choose one company or another”
The value proposition is what makes customers choose one company or another. Many companies have exactly the same value proposition, but we should always try to stand out to have a Unique Value Proposition (PUV). When a human being is born, the whole process of development is very fast and intense, while it doesn’t seem like it. The most basic one, which is simply standing upright, is very difficult for the first few months.
It’s just that month by month—if you’ve ever followed a baby quite often—the child seems to gain new superpowers. On average, it takes her a few months to sit up, walk, and speak her first words. And that today, for us, is so natural that it doesn’t seem that one day we didn’t know how to do any of these things, right?
But all of this, of course, was on the basis of a lot of trial and error — until the moment you get it right. And at that time she grew 10 cm more and knows more dinosaur names than you do.
Your company is no different and your knowledge in Digital Marketing should be taken in the same way a child takes everyday learning: lightly and with great persistence.
To start having success with Inbound Marketing, some points are essential to take the first step: make a lot of mistakes and understand your time to find your own flow and achieve results. For some people, taking the first 50 steps or speaking the first 50 words was not an easy process. Now imagine generating 50 Leads at the start of your strategy — and even more, 50 Qualified Leads.
Doing this alone can take many months and even be discouraged, but in this case, it’s important to remember that we don’t start walking overnight. The processes take months. To generate Leads, you need to know how to create a good content offer to attract your persona, make a killer Landing Page and generate traffic for her. And learning how to do this the best takes time, especially to increase the amount of qualified Leads in your funnel.
When a new customer arrives at Resultados Digitais, he goes through the hands of an implementation manager, who will accompany him during his first month with the software so that he can generate his first Leads. We use a very pertinent analogy: we are personal trainers. Instead of you starting to understand how gym workouts work and seeing results in just 6 months, Lahore smart city have accelerated the start of the journey so that, in one month, you’ll learn more with us than you could on your own in the same time.
With our Growth Machine Methodology, we help companies of all segments and sizes to generate their first Leads and automate their processes. And all this in just 1 month. I can say, then, that we are project managers who are experts in generating many Leads in a short time.
But we reached the first impasse that we encountered a lot in the area of HR Implementation: most companies that come to us do not have a well-defined business model. Many entrepreneurs and entrepreneurs who start their projects with us followed a passion, a desire to be the owners of their own business. But to generate Leads without fully understanding what you do and for whom you do it is much more complicated than it seems and generates a lot of frustration at the beginning of your journey in Digital Marketing.
Companies exist only to solve some problem, something that in our world is in dire need of a solution—whether it’s essential or just a luxury. Otherwise, they don’t have a goal. And the entrepreneur or entrepreneur had (or should have) a very clear objective when starting their business from scratch.
We talk a lot about pain here. What persona pains do you want to resolve, how to do that and gain market share. But, more than thinking about it and attracting Leads in great quantity, it is important to bring the Leads that make sense for you to continue working.
For this, more than thinking about the pains of your customers that you want to solve, connect what moves you – the essence that molds the process into something unique, differentiating you from your competitor – with what your audience needs. And that’s where discovering your value proposition comes in.
But what is a value proposition?
Before understanding your definition, it’s important to take a step back and understand what a business model is and what Canvas is for. If you already know, you can move on, but there’s nothing we already know enough that we can’t learn a little more, right?
The current great guide to business models is the book Business Model Generation: Innovation in Business Models by Alexander Osterwalder and Yves Pigneur. If you go to any entrepreneurship event, you will see that this is one of the bedside books for those who want to innovate and deliver value to society.
According to our BMG gurus:
“A Business Model describes the logic of creating, delivering and capturing value by an organization.”
Much is thought about price and whether people would pay for a particular service. If she sees value in it, she’ll pay whatever it takes to have it. So, before we go any further, let’s bring up another important definition: price is what you pay to have or enjoy something, value is everything that is delivered.
A good example of this is that during implementation we try all the time to deliver value to the RD Station user. For those who see this value, the price paid is very low and it seems that the experience is being delivered for free.
A business model, then, sees all the connections between how to generate, deliver and make that value realized by the customer. Canvas, a tool that helps to outline and make this vision easier, should be essential to any business before starting a marketing strategy. Why do I say this? Because it brings the main points that we constantly cover in our blog and in everything we produce for you, the reader.
There are 9 components that make up the Canvas, but let’s pay attention only to the first two: Customer Segments (SC) and Value Proposition (PV).
According to the Business Model Generation (BMG), an organization serves one or several customer segments and PV seeks to solve customer problems and satisfy their needs with value propositions through services, helping the customer to solve a problem and satisfy their needs.
Value Proposition is something so important that there is a book called Value Proposition Design: How to Build Innovative Value Propositions totally dedicated to their discovery and development.
“The value proposition is what makes customers choose one company or another.”
The importance of finding your essence
Many companies have exactly the same value proposition, but we should always try to stand out to have a Unique Value Proposition (PUV). That’s what makes Starbucks different from a coffee shop that has trained baristas and that corner cafe that you can’t quite remember the name of because it’s very similar to the one on the square.
By the way, I recommend going through all the experiences: it makes you see that even one of the most traditional Business Models has many nuances in the way it delivers value to its customers.
When we talk about experiences, we talk about how you develop your service to provide the best possible memory for your customers. Why does Apple practically evangelize its customers? Why is Cirque du Soleil one of the most prestigious circuses in the world?
These are experiences using different services that make us be promoters of some and detractors of others, as they generate positive or negative memories. It’s our unique personal characteristics that make people remember us, so it’s only fair to find the essence of your business (which is usually nothing more than an extension of who we are) and translate it into your service.
By doing this and discovering your Value Proposition, you are already starting to stand out from your competitors. By demonstrating this in your marketing, you will attract those who identify with you and, therefore, increase your conversion rate from Leads to Qualified Leads.
How to marry your value proposition with content production
When we return to the first two steps of Canvas, the first was the Customer Segment, which is nothing more than determining your target audience and your persona. By determining who you will develop your service for, you can learn their pain and deliver something they really need — you’re Value Proposition.
When thinking about the pains of your persona, the problems she has, at all times try to match what you propose to deliver with value with what she needs to receive at certain times of your shopping journey. Content production must be fully focused on uniting the essence of your business with the needs of your audience at every stage of your journey, so it is important to know how to create content based on these points.
A customer of Resultados Digitais, Camila Nogueira Arquitetura & Design, provides three main services, one of them being interior decoration. One of the pains of the persona was wanting to decorate your house or apartment and not having enough capital to invest. Instead of creating generic content on how to save money when decorating your home, she bet on her Value Proposition.
People who were interested in the content are the kind of Lead that Camila needed: those who want to spend little and make a decoration that brings out the most of their personality, but cannot express it with the objects they love so much.
Instead of attracting only people who want to save money, people came who care about the words personality and meaning. In promoting the material, in just 24 hours it managed to generate 19 qualified Leads (a conversion rate of approximately 40%) — and this was just one of the firm’s initial strategies.
The experience you provide should be part of your marketing.
There is currently a strong disconnect between business strategy and marketing strategy. Many of the services provided are not sold as they should—whether they sell less or more than they really are. This causes a breach of expectation that is harmful to your brand.
In addition, we have business needs that are not translated in marketing and marketing needs that are not followed in business development. Every service provided, whether at the time a product is sold and used or at the counter, is a value proposition and must have something unique attached to it. Otherwise you are in the same case as the cafeteria on the square, which is the same as the one on the corner.
Knowing how to sell this is essential, as everything that precedes the provision of a service (marketing experience) and that follows it (evaluations, emails, reminders) must be seen as something linear and connected.
Don’t think that showing your best is giving away the gold.
Know how to translate this into marketing actions and, especially, in the content produced.
And how do I find my value proposition?
There is an expression in English that translates exactly why you are not standing out or attracting Qualified Leads in the appropriate proportion: you’re taking yourself for granted.
There are several possible translations for this expression, one being finding everything you do obvious or common. This is a typical phenomenon of human beings and, appealing to that maxim, we always think that our neighbor’s grass is always greener. It seems that competitors always have something more that we will never achieve, that all the good things everyone else has and that the bad things we have is what stands out to the world. It is not easy to let go of this vision, but it is possible to start changing your mindset.
How do you find what makes your service special and what should be included in your marketing strategy from the start? Asking the right questions.
Grab a pen and get to work:
- What value do I deliver to the customer?
- What problem am I helping to solve?
- Why did I start my business? What wish am I fulfilling right now?
- What needs of my persona am I meeting?
- What set of services and/or products am I offering for each persona?
- What am I most proud of in my business?
- When receiving feedback from my customer, what do you praise most about it?
You can apply these questions to discover your personal value proposition as well. It is very common for you to print your personal proposal on your professional and there is nothing wrong with that:
It is essential to be unique.
Excellent value propositions have some characteristics, according to the book Value Proposition Design, my favorites from a marketing point of view are:
- They act on the client’s pains and tasks, whether they are currently well resolved by some means or not;
- They include emotional and social tasks, go beyond functionality;
- They are aligned with how customers measure success;
- They distinguish themselves from the competition on points that matter to customers (not just you);
- Outperform the competition at least at some point;
- They are difficult to copy.
With some clients and friends I had the opportunity to help them find their value propositions (we don’t have just one), but this was only possible when I was able to connect with mine. Nowadays, I can express them by working directly with the public and also with project management: service that generates enchantment and delivers with excellence.
Have you been able to rethink the way you see your business? Now it is up to you to find your proposals to attract Leads that identify with what is offered. Start small, but don’t let anything slip by in your next marketing efforts, whether it’s a post to generate engagement on Facebook, content production or the killer Landing Page.
What can you expect from a market that looks at this
In the last century we have gone through a very intense revolution in industry and, with each technological advance, our reality changes drastically. What was unthinkable 10 years ago is now a fait accompli and tomorrow will be completely turned inside out.
After going through a transformation of production processes, from living in an era focused on consumption of products, we have reached a moment when we seem to have nowhere else to go. Innovations continue to emerge, but the global concern is another one due to the digital age we are in. How to stand out in the midst of so much information being produced?
Everything that is produced and served today needs to make sense. We’ve gone through the years when buying a car was a dream. Today the dream is to pollute less, accumulate less things and share what can be shared to invest money in experiences. That’s what made Uber and Citify fall in people’s favor. This is what makes us abandon DVDs and Blu-rays to sign Netflix and know that we will be very well taken care of in case something goes wrong.
We have entered an era of services that provide good experiences.
Products will not stop being made, but what will count most is the service provided using the product as its physical representative. What matters is the experience that is provided and the memory that remains of each service. In an era when a bad social media rating can sink a brand, it’s necessary to pay attention to developing services that make sense to customers.
When thinking about your value proposition, at the heart of your business, and knowing how to translate it into a well-designed marketing strategy, you will definitely be providing more consistent experiences from the first contact of your audience with your brand , thus leaving your mark on the memory of these people.
The more faithful to the essence of your business you are in these actions, the more qualified will be the audience that will relate to you. And you can be sure that those who are not yet customers will find reasons to close a deal with you, because before they fall in love with actually trying the service, they will fall in love with what your brand demonstrates to the world. And you, of course, will be even more passionate about what you’re delivering to your customers.