by Tamara R.
In my last post, I asked you to consider: “Is your business’ next level marketing?” This round, I want you to look at your business, and ask yourself… “What’s my focus?”
“Make sure we’re not building our dreams, make sure we’re building the customer’s dream.” – Dr. Flint McGlaughlin, Managing Director, MECLABS.
What an awesome quote! But what a difficult thing to actually achieve. How do you know what your customer’s dream is? How do you know where to start if you’re going to seek after excellence? How do you ensure the customer is truly satisfied with your product or services? This is where the Value Proposition comes into play.
What is a Value Proposition, you ask? Let’s take it directly from the words of Daniel Burstein at MarketingExperiments:
“What is a value proposition?
A quick primer if you’re unfamiliar with those two words, at MarketingExperiments we define your value proposition as the answer to this fundamental question:
Why should your ideal prospect buy from you rather than any of your competitors?
This is not a slogan or a headline or anything that will likely appear, as specifically worded, in any of your advertising creative. It’s also not your mission statement or business plan.”
It’s a rather difficult concept (to me, at least). I’ve wrestled with value proposition, as well as mission, vision, beliefs, foundations, and more, for quite a few months now. However, one of the reasons I subject myself to persistently seek after the core of a business is that I am a firm believer that if the core of the business is not founded on good, strong beliefs and goals (and a value proposition), then what makes this business any different than the other ones? (The answer is “Nothing” for those that didn’t bother to guess.)
Doing a value proposition for your company does, however, require that you be utterly honest with yourself and your business. MarketingExperiments has a page here with a pdf that’s worth at least skimming through.
It can seem like a daunting task. You may have to do your value proposition a few times to get to the very essence of what you provide that your competitors do not. You may have to be honest and make some changes in the company in order to create a better value proposition. It will be well-worth your time, though. I’m learning that myself.