Value propositions and USP - Unique Selling Position

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VALUE PROPOSITIONS and USPHow to turn your FAB into a slogan or product promotional concept

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

What is a Value PropositionValue : Establishing how important it is to the customer the BENEFIT: Note that this is not always what we think it isValue Proposition a statement that explains our product offering and its value to our customer.It will include mention of company and / or brand2

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

Remember FAB?: Features Advantages BenefitsUse FAB to get to the core of what makes a product selland help you craft your USP and Value PropositionF Features: the tech specs whats in the boxA Advantages: what it does better than the competitionB Benefits: How it relieves a problem or fulfills a desire for the customer this is always associated with creating positive feelings or relief to a customer33

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

Elements of Value for Customers4

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

The Value Proposition5The Value Proposition should make it easy for your customer to identify THEIR DESIRE to purchase your item/brand:The term TRIBE is useful here; Your product is aimed at a specific group of people a TRIBE if you want your customer to easily identify THEIR desire to buy your products, you need to know WHO they are and what makes them tick what are their CUSTOMS? What age; gender; income; hobbies; habits; how do they communicate; what music do they likefind the things that are common to them so you can develop a way to effectively communicate with them and build a TRIBE

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

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The Value Proposition6TRIBE:People like to feel like they belongPeople like to feel like their individuality is recognized and catered toIf you can combine targeting both these seemingly conflicting things, you will be able to form a strong TRIBE of your customers

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

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The Value Proposition7TRIBE why does it matter?You want to build brand loyalty forWord of mouth promotionRepeat purchasesIf your TRIBE really feels they can identify with your brand, they will drive both of these and build a strong base from which you can build your business

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

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The Value Proposition8So to craft a Value Proposition that makes it easy for your customer to identify their desire to purchase your item/brand, you will need to:Clearly state who your tribe isCapture what that tribe wants or needsBriefly name and describe the product you have for this Bring it home with the key BENEFITSAnd clarify what makes it superior over the competitors - ADVANTAGES

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

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The Unique Selling Proposition9An essential foundation of a good Value Proposition is knowing what your USP really is:Remember that you will always have competitorsIdentify what makes your product different and ideally, preferable to your competitors what is your Unique Selling Proposition?Our instincts are to be everything to everyone spread our nets as WIDE as we canBut in fact, being able to refine, define and target a very specific market sector is actually a much stronger foundation for success

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

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Crafting a Value PropositionThe Value Proposition should be Concisespecific and engaging to your customers

To get a feel for this, take a look at some examples from the internet

http://yourbrandvox.com/blog/2014/7/18/13-value-proposition-templateshttp://torgronsund.com/2011/11/29/7-proven-templates-for-creating-value-propositions-that-work/ https://blog.udemy.com/value-proposition-template/ http://conversionxl.com/value-proposition-examples-how-to-create/

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Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

11A great example

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

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Dissecting the Motts Juice Maker Value PropositionWho do you think the target market for the Motts Juice Maker is?List the items that you think are Advantages1)2)3)List the items that you think are Benefits1)2)3)

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

For Saint Lucian workerswho needs to get a good breakfast on the go, Market Breakfast Stop offershealth food, not just nutritious, but absolutely delicious! In a clean, convenient restaurant opposite the bus stopUnlikemost fast food, Market Breakfast Stopmeals are low on fat, low on calories, and high on delicious taste and nutrition!Ourunique combination of innovative recipes using organic ingredients ensures gourmet taste pop-full of energy for the day!Example Customer Value Proposition13

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

Crafting a Value PropositionTo get your started, you can work with the following outline - Your Value Proposition should include these basic elements:

14For_______________________________(target customer)who_____________________________(opportunity/need)the_________________________________(product name) by_________________________________(company name)that ________________________ (USP/benefit statement)

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

Customer Value PropositionNext once there are competitors already in the market, you need to establish superiority to them, so include these elements:

Better than______________________(alternatives/competitors)By/with ___________________________(how it works better include the B of FAB here emotions)

If its a new concept, the benefit statement will establish what challenge is solves - the last part will focus on how good it will make the customer feel.The Value Proposition must be truthful it must establish your credibility and trustworthiness

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Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org

The Call to Action!Did you notice an added element?Try convenient, ready to pour, Motts Juice-Maker today!This is a Call to Action and if you are in the process of selling vs the process of doing market research it is very important to include a Call to Action. Dont just leave your prospect hanging encourage them to make a decision!We often think of selling as a sleazy thing like a Used Car Salesperson or a Multi-Level-Marketer, trying to make people pay more for something than they need to but in reality, people appreciate good selling because it is helping them genuinely solve a genuine problem it is trustworthy. So do a good job of helping people find good solutions to their needs!

Author:Finola Jennings Clark for the Cultural Development Foundation, Saint Luciacdfstlucia.org