Value Proposition: How do you create an effective value prop?
In today’s Web clinic at 4:00 p.m. EDT – “How You Can Use Email to Discover the Essence of Your Value Proposition (in 5 Simple Steps)” – Austin McCraw, Senior Editorial Analyst, MECLABS, will use our research to help you discover an effective value proposition, and answer questions like:
- What do your customers find most appealing about your offer?
- … Is it the price?
- … Is it a specific feature?
- … Is it the broader brand association?
But first, we wanted to learn some value proposition insights from the MarketingExperiments community …
Value props consist of needs, wants and desires
The best value propositions consist of:
- The benefits my customer most NEEDS from the product/service (ex: the ability to make 500 copies per minute if we are talking about a printer machine)
- + the most parallel benefit my customer WANTS (ex: saving $400 on ink cartridges/per year)
- + the most DESIRE my customer has with products like mine (ex: colorful/professional reports)
– Ahmed Seddiq, Senior Operation Officer, Corporate Visa Services, Dnata, The Emirates Group
Value proposition testing
Really, the only way to answer this question is to test various configurations of value communication using multivariate testing and scientifically determine what resonates in terms of conversion.
– Jonathan Greene, Business Intelligence Analyst, MECLABS (parent company of MarketingExperiments)
The best value propositions solve problems
Hearing from customers what their problems are (directly through Sales, or through product management teams) helps marketing craft, test and refine value statements that resonate and alleviate existing pain points.
– Lisa McGrath, Manager, Website Development and Marketing, Software Segment, Bloomberg BNA