The Value Proposition is the foundation of any good marketing campaign. Essentially, it’s your “elevator pitch” — a short statement that identifies your target market and showcases the value of your solution in just one sentence.
Once you have a compelling Value Prop built around your audience, you can use it as a selling feature and talking point for all of your marketing campaigns.
So, how do you create a Value Proposition?
And, how can you ensure it will resonate with your audience?
The Value Proposition Canvas is a handy tool for visualizing how your offering helps address your target market’s top pains and gains. When used alongside your Customer Profile and Value Map, you can create a Value Proposition built around the specific needs of your audience.
In the last few weeks, we’ve talked a lot about creating a precise Customer Profile and narrowing the scope of your target audience. With the Value Proposition, you can see all of this hard work come together in one concise sentence that is loaded with value. Once you have all the pieces in place, you can create a powerful value prop in just 3 simple steps:
1. Analyse Your Value Map
Your customer profile identifies your target audience’s main pain points, gains, and day-to-day tasks. Your value map takes these pains, gains, and jobs and aligns them with your solutions for each — your pain relievers, gain creators, and products/solutions.
Finally, your Value Proposition takes these insights and combines them to create one sentence that communicates value to your target market in a way that will resonate with their needs.
So, the first step is analysing your Value Map.
If you haven’t created a Value Map for your target market yet, check out last week’s post, where we dive into how to map your offering’s pain relievers, gain creators, and products/solutions to deliver value for your clients.
Once you have your Value Map, you can use it to illuminate the “perfect formula” for ensuring your offering will resonate with their situation. These insights make up the basic elements of your Value Proposition.
Start by focusing on the top three points from each section.
Outline the three most important pains and gains experienced by your “perfect” client. By using the insights developed in your value map, you can ensure that each component of your Value Prop is built around the needs of your target market.
For example, for our team at eRational, we identified the following pains and gains as most important for our “ideal” clients:
Not enough qualified leads
No consistent, standardized sales process
Too many incompatible, complex, and heavy systems causing delays and downtime
Consistent, sustainable, automated lead generation system
Compatibility across all workflow platforms for reduced downtime
On-demand digital marketing expertise
Tracking ROI and marketing campaign budgets
Managing staff workflow and internal processes
Building and implementing technology infrastructure
Remember: your Value Map must be based on “the real story” — you need to map out these pains and gains using primary and secondary evidence (not just your “best guess”). This will ensure the content resonates with your audience, since it’s actually based on their feedback.
Our Value Map is the culmination of months of surveys, client feedback, and secondary research into our marketplace — the more research you do, the more insights you will have into your market, and the more your Value Prop will resonate with your target audience. Check out our piece on building a strong Customer Profile for more insights into this process.
2. Brain Dump with Stakeholders
So, now that you’ve identified your markets’ top pains and gains, it’s time to “brain dump” all of the information you and your fellow stakeholders have to create one succinct Value Prop sentence.
While this will look different for every unique audience, there are a few key points you want to call out in your Value Prop brain dump:
- Who you help (target audience)
- What you do (overall deliverables)
- How you do it (key processes)
This exercise involves each team member writing out 10 rough proposition statements. For example, here are a few of the results we came up with in our “brain dump”:
- We provide small businesses with on-demand marketing expertise to generate qualified leads and grow MRR with consistency.
- We help small business owners create a scalable Outbound Prospecting Machine to spark sustainable, measurable growth.
- We deliver on-demand digital marketing services and scalable lead generation processes to help small businesses grow with consistency.
- We help small business owners generate predictable revenues through scalable lead generation and consistent branding across multiple digital platforms.
- Our growth-on-demand services help small business owners generate qualified leads and scalable revenues with guaranteed results.
After this exercise, you will likely have dozens of sentences, each containing bits and pieces that will eventually make up your final Value Prop for this campaign. From there, your team can evaluate each response, picking the keywords and phrases that best represent your brand voice.
All of these are good, but the trick is adjusting and optimizing them until they are foolproof.
The strength of this exercise is that it allows for feedback from multiple different perspectives unique to each individual stakeholder. As a result, you can create a well-informed Value Prop based on data from a variety of educated sources.
3. Fine-Tune the Message
Now that you have a huge list of possible Value Props from your “brain dump” session, you can pick and choose which elements are most important for this campaign. This involves picking out the key aspects that will resonate with your target audience in 30 seconds or less.
Why so short?
In the ‘old days’, an elevator pitch was meant to be under 30 seconds so you could quickly and clearly communicate your offering if you were in an elevator with a prospect. This is the same idea, but it also allows for a digital audience. So, keep it to one sentence and approximately 120 characters for optimal use on digital platforms.
This Value Proposition will likely change from campaign to campaign as you optimize it for each individual audience. So, which points would best resonate with the target prospect of this specific campaign?
This is where you can begin to fine-tune your messaging and put a “marketing spin” on your Value Prop.
In our case, this campaign was focusing on small business owners in the IT/Tech space who create SaaS solutions for their clients. When fine-tuning the messaging for this sector, we came up with:
- We help IT & SaaS Companies Generate Predictable MRR by Delivering an Outbound Prospecting Machine with Guaranteed Results.
The key here is brevity: the goal is to create a short sentence that intrigues your audience and gets them to book a call with you.
This Value Proposition combines the most powerful aspects of the “brain dump” including the key information necessary for this campaign:
- Who: IT & SaaS companies
- What: Generate Predictable MRR
- How: By delivering an outbound prospecting machine with guaranteed results
There you have it: in 30 seconds or less, prospects will know exactly what you do and how you do it. From there, it becomes about structuring your messaging content in a way that supports your Value Prop and proves that you can do what you claim.
Stay tuned for more insights into how to use your Value Prop to create compelling content that resonates with your target market.
Have you created a Value Proposition using the Value Prop Canvas? What obstacles did your team encounter as you performed your “brain dump” and fine-tuned your messaging?
For more insights into how to use your Customer Profile and Value Map to create a compelling Value Proposition that will resonate with your target audience, register to attend our Back To Business webinars.