Value Propositions In eCommerce
When selling products to customers, it can be hard to stand out against your competitors. With so many products on the market, why should they choose yours? Having a value proposition lets customers know why they should choose you, and how you can help provide them with what they are looking for. Creating a value proposition can help you increase conversion rates and get the most out of your marketing efforts.
What Is A Value Proposition?
A value proposition is what you promise to deliver to your customers. This can either attract customers, or drive them away. Ideally, your value proposition will meet three main criteria: it’s specific, pain-focused, and exclusive. First, you want to let them know exactly what benefits they will receive from purchasing your products, rather than one from a competitor. Then let them know how you can fix a problem they have to make their life easier, Last, highlight what makes you stand out. Let them know why your product is the most desirable for them, and what makes you the best option.
Focus your value proposition on how it can make your customer’s life better, and how it will make them better or happier, instead of simply relying on the product’s features. While they will be happy to have more information about your product, the value proposition should tell them how it can make them a better version of themselves, and what value it will add to their lives. Do not confuse a value proposition with a slogan or catchphrase, as those are meant to advertise your product and establish your brand.
How To Write A Value Proposition:
One of the biggest things to remember is that you want your value proposition to be clear. Do not worry about making it catchy or fun, you can do this in other areas. Your main goal of your value proposition is to send a message, loud and clear. Do some research on your target audience and create a message that will resonate with them. Focus on why they should buy your product, when they will notice the benefits, and how it will make life better or easier for them. Make sure the tone and phrasing fits your target demographic. Be careful to not overhype your product or make promises you can’t deliver, but to articulate what your product is truly capable of.
Consider sending out a survey or interview customers to see what they have to say about your product. Ask them what you could improve on, how your product helps them, and what their favorite things about using your product are. Pay close attention to the words and phrases they use, and any lingual trends that you see. Understanding how your customers speak helps you communicate with them, and can make your brand feel more familiar even if they do not have previous experience with you.
Types Of Value Propositions:
There are several different types of value propositions to consider, but two very important ones. The first is your company proposition. This should be an umbrella proposition that encompasses all of your products and services, and why you are the best choice. If your company contributes to a cause, you can use that to help create your proposition. For example, if you use recycled plastics or organic material, that could be a great way to bring in new customers that are passionate about sustainability. Next is the product value proposition. Having one of these for each of your products is important to let customers know what they can expect, and can even help encourage them to purchase related products together.
In short, value propositions are a promise you are making to your customers. Everyone believes that their products are valuable, so think about what makes them so valuable and let your customers know! If your promise is clear, to the point, and exclusive, you will have many happy customers. Does your company have a value proposition? What promises have you made to your customers? Let us know in the comments!