The age of empty marketing speak is over. We’re in the era of brand journalism, and consumers expect a certain depth to their marketing. People roll their eyes at phrases like “We have a passion for…” and “Made for X by X”.
Instead of empty, faux-enthusiastic phrases and keywords, modern consumers want brand statements they can rely on. They want to see the benefits of your product clearly outlined in an honest way that they can trust.
In short, they want brand value propositions.
Let’s take a look at what a brand value proposition is, why it’s important, and how you can craft an effective value proposition that will quickly engage potential customers.
Understanding brand value proposition
A value proposition is a statement that clearly expresses how the brand/product will address customer pains, meet customer needs, and add value to customer lives. A strong value proposition is clear, honest, reliable, succinct, and closely relevant for target customers. Any brand can benefit from a brand value proposition. Whether you’re a link building agency for SaaS or a manufacturer of baby clothes, a good value proposition will both bring in and retain customers.
It’s important to note that a brand value proposition is not a tagline or a slogan. Good value propositions tend to be more detailed and more closely aligned to the needs of the ideal customer. Nor are value propositions mission or value statements. While value propositions often take the core values of the brand into account, they don’t directly address the brand’s values or overall mission.
For example, FedEx Delivery Manager’s brand value proposition is “Take control of your deliveries”. It clearly states what the service is for (managing deliveries), with the value for the customer front and center (control over deliveries).
Image sourced from fedex.com
By contrast, FedEx’s tagline is “Where now meets next”. It’s short, snappy, and catchy, as you’d expect from a tagline, but it doesn’t go into the key value FedEx provides for the customer. Meanwhile, the brand’s mission statement is a lengthy paragraph which outlines the company’s aims, values, and standards. The value proposition is clearly different from both of these statements, and serves a different purpose.
Why a brand value proposition is important
Brand value propositions have several benefits. Here are four of the strongest:
1) They bring in customers quickly. Prospective customers will click into your website faster and stay there for longer if you can quickly and clearly communicate how your product/service benefits customers.
When aligned with a product led growth strategy, where the product itself drives customer acquisition through its features and user experience, a strong brand value proposition can further enhance this effect by ensuring that all communications are consistently reflective of the product’s core benefits.
Extending this strategy through affiliate marketing can further amplify your reach, leveraging partnerships to enhance the perceived value of your offerings and aligning well with a solid brand value proposition.
2) They provide differentiation. A strong brand value proposition will differentiate you from your competitors and help you to increase your market share. For example, if you provide a PaaS solution for businesses, your brand value proposition could quickly help clear up common confusions between IaaS PaaS and SaaS examples.
3) They empower your sales team. Through effective internal marketing, the entire organization becomes aligned with the brand value proposition, enhancing the ability of your sales team to communicate it persuasively to future customers. This alignment is essential for delivering a consistent message externally.
4) They foster customer loyalty. A compelling brand value proposition resonates deeply with existing customers, continually reaffirming why they chose your brand in the first place and encouraging long-term engagement.
5 steps to crafting a compelling brand value proposition that converts
So, that’s what a brand value proposition is, and why it’s useful to have one. Now let’s take a look at how you can create a successful value proposition for your own brand.
1) Identify key benefits for consumers
The most important thing a brand value proposition does is to clearly explain the key benefits your brand or product will give consumers. The best way to retain customers is to understand their needs, so start by doing some deep research into what your consumers want, what they need, and how your offering addresses these wants and needs.
Look into customer pains, customer experience, and the ways in which your offering improves quality of life for your consumers. Take note of customer insights, and comb through customer testimonials for common themes. All of this will help you to identify the key, solid benefits that your brand can offer to your customer base.
2) Establish a simple, clear structure
The most successful brand value propositions are clear and concise. That being said, it’s not always easy to cram your chosen benefits into a quick sentence or so on the first try.
You can make it a bit easier for yourself by establishing the structure you want early on. For example, do you want a single short sentence? Two well-balanced sentences? Maybe you want to make your proposition catchier with something like alliteration, or even rhyming (this sort of thing can be effective, so long as it’s not too gimmicky and the essential message doesn’t get lost in the fun).
3) Draft a simple proposition statement that incorporates key consumer benefits
Now that you’ve got your key benefits and a structure to fit them into, it’s time to start drafting your proposition.
Don’t worry, it’s unlikely that you’ll get it perfect on the first try. We suggest that you start by drafting a longer statement that incorporates all the benefits you want and the structure you’d like, and then hammering it into shape during the next two stages.
4) Validate your draft statement
By this point, you should have something clear to work with. It might be a bit long and a bit clunky, but it’s got potential. Now it’s time to start refining that potential into something compelling.
Start by validating your draft statement through peer and customer review. Ask colleagues and customers what they think of your value proposition. Take note of their insights and, where you feel that someone has been particularly on-point, incorporate their suggestions into your working draft.
5) Craft a compelling value proposition
Now it’s time to put everything you’ve worked on and learned together, and turn your draft into a compelling brand value proposition.
Don’t be afraid to mix stages four and five. It’s often (in fact, usually) better to keep getting feedback on your value proposition as it evolves. Ultimately, you should end up with a concise value proposition that clearly conveys what your offering does and how it will benefit your customer.
Create a brand value proposition that converts
An honest, clear brand proposition is fantastic for bringing in high value customers. With a good brand value proposition, you can bring in customers that won’t convert once and bounce. Instead, they’ll stick around and become loyal members of your customer community.
Use the steps we’ve shared here and in this blog to create your own compelling and successful brand value proposition.
