Amber Goodenough | 08.11.2018
HOW IMPORTANT IS IT?
Here's a hint...very
Is it time to re-think your brand strategy, are you relying on old branding and ideas to take you into the future?
Keeping a business running is all about knowing your customers and giving them the exact products and services they most want and need. After all most businesses rely on repeat customers, can you really afford to get it wrong?
Perhaps it’s time to reassess your value proposition or the unique innovation or service that only you can offer. And though the name sounds harsh, the concept itself is pretty easy to understand.
Value proposition is about strategy
Your value proposition is your unique reason why you are better than the competition and it explains the value you offer that makes people want to buy from you.
Why should customers buy from you when you offer the same service or product as someone else? A good value proposition statement will answer this question. If you are in the trenches trying everything to make your business succeed, find a moment to ask yourself the following questions.
- What makes you better than your competitors?
- Why is the value from your company better than anything out there?
Because the thing is, two businesses selling the same thing can exist in close proximity. There have always been Starbucks nearly next door to coffee shops, and yet somehow they both do well. Why? Because they each know what makes them unique, one type of customer is looking for the Starbucks experience and another customer is looking for something different. Your responsibility as a business owner is to figure out why you are the alternative to the competition.
Getting past the front door
Imagine going door to door selling your product or service. You have to physically go up to a stranger’s door and ring the bell. You put on your biggest smile and then the door opens. You start to excitedly tell them about your product but they quickly realize they are being sold to and look annoyed. What can you say to make sure they don’t slam the door in your face?
Can you tell them that by using your service, they will save 15% or more than the competition? Or that they will be able to relax and unwind because of all the time and energy they have after using your product?
Entice the person behind the door to ask you questions. Intrigue them. But then they ask, “what about that other place that sells the same stuff?” Now is your chance to explain why you wipe the floor with those “other guys”.
Give them statistics, testimonials, give them the benefits of your product and why they should switch from the brand they use now.
Create your unique offering
- What compelling reason can I give to customers to switch brands? Is your product bigger, better, faster?
- Will your business save your customers money, time or hassle?
- What about accessibility, ease of use or convenience? Are you a better option than what’s out there because you make is so easy for customers?
- Or maybe you are all about being the first one to come up with a product or service like this, maybe you are unique?
Need some help getting your brand strategy up to snuff?
Schedule your Distillery Session right now!