Quick, you have 10 seconds: can you state your company’s value proposition? The main goal of your marketing strategy should be to convey your value proposition to potential customers in an attempt to win them over. But many business owners may be surprised to find out that their value proposition may not be what they think it is. That’s why it’s important to occasionally reevaluate your value proposition to make sure it still accurately portrays your business and aligns with customer perceptions.
First, what is a value proposition? Your value proposition is what makes your product or service attractive to your customer. A crucial part of reimagining your overall content marketing strategy is evaluating how your current value proposition is performing, and adapting accordingly.
The thing is, your value proposition isn’t something you have complete control over—you can try to make explicit what you think your value proposition is, but the customer could have a completely different opinion on what makes your product or service valuable.
For instance, let’s say that you think you’re making the tastiest mini-pretzels in the industry, and state this value proposition on your website. However, what if customers choose you over your competitors because you use significantly less sodium in your mini-pretzels than anyone else? In that case, you can see how this crucial discrepancy would be important to know so that you can adjust your marketing materials to capitalize on this benefit.
Here are some steps to help you reimagine your value proposition:
1. Write down what you think your current value proposition is. You’d be surprised how many businesses operate without actually knowing what their value proposition is, which makes it that much harder to design marketing content and spread the word about their services.
2. Check the performance of your content categories using whatever analytics are available to you. The types of pages that most frequently lead to sales and other types of conversions on your website will be an indicator of what aspects of your story the customer finds most appealing. These numbers will tell you whether your current value proposition aligns with how you’re perceived by the customer.
3. Adjust your value proposition accordingly. If you see a discrepancy between your current value proposition and the perceived value customers are actually acting on, it will pay off to focus more of your marketing efforts on the latter.
Do you have a story about realigning your value proposition with how your customers perceive your business? We want to hear about it! Send us an email, or get in touch with us on Facebook or Twitter @LittleJackMKTG.