What makes a website visitor turn into your customer? A value proposition where he sees himself benefitting in one way or the other with what the business has to offer.
Many studies suggest that most businesses don’t succeed because they have a weak value proposition compared to their competitor. Or they aren’t able to show what value the visitor can get at the right time – once the visitor’s attention is lost, your customer is as good as gone.
So here’s taking a look at a few value propositions that are so irresistible that no visitor can say no.
What is a value proposition?
According to a study by Chartbeat, a business typically has about 5 to 30 seconds to hold a website visitor’s attention. In this span, the business is to engage the visitor on a level that makes him want to convert.
Simply put, you need to put forward the reason why a visitor should interact with your business over others in 30 seconds flat. This reason you give to the visitor is what is called a value proposition.
What makes a good value proposition?
An effective value proposition basically takes into account what the market already has to offer, what the customers are looking for actively or purchasing and what you have to offer that makes it different from the rest.
A value proposition should ideally include:
- A heading – the one that’s instantly going to hook the website visitor
- A subheading – that reiterates or explains the heading a little more
- A list of benefits – a quick scrollable list of what the visitor would gain
- An image – ideally a visual that complements your value proposition
How to create a value proposition?
One of the challenges that most businesses face is creating a value proposition for their business. They struggle between the concerns they are to address and the product that would get them the most conversions. Here are a few steps that you absolutely need to take while creating a value proposition:
1. Research your target market
The very first step you need to take is study the market. Get a hold of how the market in your niche is faring and if there is a segment that you can take up. Look for opportunities that are untapped and those that you can tap into by offering something better than your competitors.
Understand what your target audience is looking for, converting on and expecting from businesses. The best value proposition is the one that resonates with the customer. And the only way to create one like that, is to know him better.
2. Create ideal customer personas
Once you have the target market data, you need to create customer personas for your business. Your target market is comprised of people with different demographics – not just their gender, location, etc, but also what they are looking for and what their challenges are.
Segment your target audience further to create ideal customer personas. Treat each persona you create as an individual person, stating what he is looking for and what you can offer him as an added value.
3. Peek into your competitor’s strategy
If you’re entering a market that already has a few businesses catering to, it is always a wise idea to peek into your competitor’s strategy before going all out. Understand what helped them acquire the market, who their customers are and if they’re happy with what they had to offer.
List down the value propositions that your competitor offered to the market and then list down counter value propositions that you have to offer alongside it. This will help you understand what the core difference is and how you can tap into the already acquired market. It will also save you a lot of resources if you already know what doesn’t work in your target market.
4. Determine the primary benefits
Once you know who you’re targeting and what competitors you have to face in the industry, the next step is to list down all your primary benefits. List down those that are in common, those unique to you and those that you can offer better than the others.
Knowing what you’re good at and where you can add the most value to your target audience, is the trick to finding your effective value proposition.
5. A/B test value propositions
There is a high chance that when you list down the benefits of your products and services, you end up having more than one value propositions that might resonate with your target market. In this case, it is important to understand that your different value propositions could be useful to different segments of your audience.
So instead of randomly choosing any of them, A/B test a few variations of different segments. See what they respond to the most and what gets ignored by them. Running it over a defined period of time, will help you streamline the value proposition you’d like to make primary.
Examples of effective value propositions
In case you’re wondering what an effective value proposition looks like, well, we got some examples lined up for you!
One of our favourite tools for organizing, scheduling and managing our work on a common dashboard – wait, isn’t that Trello’s exact value proposition? Yes! They knew exactly what their audience (us) was looking for so they made it a point to keep it pretty much straight.
Another one of our favourites when we look up to marketing examples, is Unbounce. Creating landing pages for marketing purposes is always a hassle. You have to run after the designers and then the IT people.
Email marketing plays an integral part in every business’s growth strategy. But creating the right kind of email – template, content and of course, managing lists can be really overwhelming and most marketers end up sending shabby emails. This is where MailChimp steps in with their value proposition that absolutely nails it – send better email.
AirBnB is really popular amongst avid travellers who like to experience the cultures of the place they’re visiting. The platform basically helps you find fully fitted out houses for rent during your trip so you can travel and experience the comfort of being at home. A simple ‘welcome home’ here and a subheading to explain the same, makes it all better!
Every time we visit a new place or meet new people, we have tons of memories to share – which we end up sharing on social media or different WhatsApp groups, one after the other, losing track of what we sent and what we haven’t. Wouldn’t it be simpler if we had it all in one place that we could share with those we want to. Yes, Dropbox totally nails its value proposition.
There are times when an idea strikes us and we think of making a note of it because we might just forget about it. But then, we end up doing neither – we don’t make a note of it because we can’t locate a pen and paper, and we don’t remember it altogether when the need be. Evernote – ‘remember everything’, definitely strikes a chord right? The best part is that the features are listed right below the value proposition!
When you run a business or go solo, the number one challenge that you face are finances – managing them and accounting for all the expenses you made. Freshbooks makes it all easy and their value proposition says the same. Because, not everyone is an accountant!
Outbrain is a tool that most inbound marketers use to promote their content in the target market – well, because organic traffic doesn’t cut it any more. So their landing page directly states what I’m looking for – promote content – no mincing words.
HubSpot is a marketing and sales software that helps businesses manage their campaigns, leads and customers effectively. All in all, it helps a business grow. Their value proposition as soon as you land on their homepage, just reinforces the same.
With the increasing number of social media channels that businesses need to keep up a presence on, it gets really overwhelming for marketers to manage it all. Buffer makes social media really easy and their value proposition says exactly the same.
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