Last Saturday, while reading the Daily Mining Gazette, I studied local ads. Nine out of ten ads DID NOT give me a reason to react to their ads. Why? No one crafted a value proposition. 10% off doesn’t get people in the door.
Creating an effective value proposition (one short sentence and a reason to buy from you) requires some soul searching. A value proposition is a promise to a potential buyer of what will happen to them when they buy from you; they will save money, save time, feel better, have fun, etc.
Here is a process to develop your customer promise or customer experience:
- Define your ‘Why:’ Why are you doing what you’re doing? (Not your product and services – you). How will what you offer benefit your customers?
- Step into the shoes of your customer. You obviously went into business for a reason. Does your product or service accomplish your goal for the customer? What OTHER benefits will your customer experience?
- Ask your customers. Never assume you know what your customer is thinking – that’s dangerous. Ask your customers what problems you solve for them. Hold a focus group with your best customers. Hold a focus group for people that are not customers. Hand out a survey.
- Create a company slogan or positioning statement. You should take everything you learn from this process and turn it into your positioning statement to fit every aspect of your business. Along with your logo, your positioning statement should resonate with new and potential customers. Your slogan should be meaningful, suitable across all promotions, and clearly communicate the customer.
Your value proposition, your promise, your customer’s experience is not about you, it’s about them.