Financed bySupported byImplemented in cooperation with Financed bySupported byImplemented in cooperation with What is unit value proposition (how to engineer it) 2Day, Session1 Tijana Sekulic

Financed bySupported byImplemented in cooperation with What the value proposition consists of The value proposition is usually a block of text (a headline, sub-headline and one paragraph of text) with a visual (photo, hero shot, graphics).

Financed bySupported byImplemented in cooperation with Scrolling down, the site highlights that Luxy has seen heavy coverage in fashion magazines and continues with copy that explains how their hair extensions will make hair look great without glue, waxes, or wastage (environmentally conscious buyers will love this point of difference). As a fashion brand, Luxy Hair relies more on visuals. The image here was made to catch attention (remember that images can be a part of the value proposition), a subtle promise to make your hair just as beautiful.

Financed bySupported byImplemented in cooperation with Scrolling down, the site highlights that Luxy has seen heavy coverage in fashion magazines and continues with copy that explains how their hair extensions will make hair look great without glue, waxes, or wastage (environmentally conscious buyers will love this point of difference).

Financed bySupported byImplemented in cooperation with What the value proposition consists of There is no one right way to go about it, start with the following formula: Headline. What is the end-benefit you’re offering, in 1 short sentence. Can mention the product and/or the customer. Attention grabber. Sub-headline or a 2-3 sentence paragraph. A specific explanation of what you do/offer, for whom and why is it useful. 3 bullet points. List the key benefits or features. Visual. Images communicate much faster than words. Show the product, the hero shot or an image reinforcing your main message.

Financed bySupported byImplemented in cooperation with Evaluate your current value proposition by checking What product or service is your company selling? What is the end-benefit of using it? Who is your target customer for this product or service? What makes your offering unique and different? Use the headline-paragraph-bullets-visual formula to structure the answers.

Financed bySupported byImplemented in cooperation with How to create value proposition? The best value proposition is clear: what is it, for whom and how is it useful? If those questions are answered, you’re on the right path. Always strive for clarity first.

Financed bySupported byImplemented in cooperation with What makes a good value proposition: Clarity! It’s easy to understand. It communicates the concrete results a customer will get from purchasing and using your products /services. It says how it’s different or better than the competitor’s offer. It avoids hype (like ‘never seen before amazing miracle product’), superlatives (‘best’) and business jargon (‘value- added interactions’). It can be read and understood in about 5 seconds. Also, in most cases there is a difference between the value proposition for your company and your product. You must address both.

Financed bySupported byImplemented in cooperation with Boosters for your value proposition Sometimes it’s the little things that tip the decision in your favor. If all major things are pretty much the same between your and your competitors’ offer, you can win by offering small value-adds, call boosters.

Financed bySupported byImplemented in cooperation with Boosters for your value proposition These things work well against competitors who do not offer them. Boosters can be things like Free shipping Fast shipping / Next day shipping Free bonus with a purchase Free setup / installation No setup fee No long-term contract, cancel any time License for multiple computers (vs 1) (Better than) Money-back guarantee A discounted price (for a product) Customizable You get the idea. Think what small things you could add that wouldn’t cost you much, but could be attractive to some buyers. Make sure the booster is visible with the rest of the value proposition.

Financed bySupported byImplemented in cooperation with Very clear what it is and for whom Specific lead paragraph Key features outlined above the fold A relevant image Features a booster – “100% rebrandable”

Financed bySupported byImplemented in cooperation with Clear statement about what it is and for whom List of benefits Relevant image

Financed bySupported byImplemented in cooperation with A different kind of layout, but well done. It tells a story of ‘what’ and ‘how’. Easy to follow. Key features / benefits listed along with relevant imagery ‘Remember everything’ is a good slogan, and specific sub-headline underneath it for improved clarity.

Financed bySupported byImplemented in cooperation with Testing value propositions You definitely have to test your value proposition. How? 1. A/B testing The best way is to craft 2 candidates (or more, if you have tons of traffic) and split test them. Ideally you would measure sales conversions (for most accurate results), but if that is not possible lead conversions or even clickthroughs will do.

Financed bySupported byImplemented in cooperation with Testing value propositions You definitely have to test your value proposition. How? 2. Pay per click advertising A fast and cheap way to go about it is using Google AdWords or Facebook ads. Basically you would split test ads with different value propositions, targeting the same customer. The ad with higher CTR (clickthrough rate) is obviously a better attention grabber and interest generator, although it doesn’t necessarily mean higher sales conversions. Send the traffic to a corresponding landing page and test conversions too. What are some of the better value propositions you have come across?

Financed bySupported byImplemented in cooperation with Testing value propositions You definitely have to test your value proposition. How? 2. Pay per click advertising A fast and cheap way to go about it is using Google AdWords or Facebook ads. Basically you would split test ads with different value propositions, targeting the same customer. The ad with higher CTR (clickthrough rate) is obviously a better attention grabber and interest generator, although it doesn’t necessarily mean higher sales conversions. Send the traffic to a corresponding landing page and test conversions too. What are some of the better value propositions you have come across?

Financed bySupported byImplemented in cooperation with Where Does Your Value Proposition Come From? Look at the weaknesses of your competitors & ask yourself: Is your website easier to use? Can your product be better tailored to the market? Do you have a kick ass customer service team? Is your return policy or customer guarantee superior? Are your prices lower? Do you have faster shipping options? Is your atmosphere better? Realistically, there will be problems you can’t solve.

Financed bySupported byImplemented in cooperation with You Are Not The Products You Sell. More importantly, this value proposition establishes the garage as the “just one hour ”guys.” Speed of service” is what they’re selling. Similarly, Domino’s never claimed to be “The Best Pizza You’ve Ever Tasted.” Instead, they understood when someone wants pizza, they want it now! They built their business on “You get fresh, hot pizza, delivered to you in under 30 minutes – or it’s free!”

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Financed bySupported byImplemented in cooperation with Four types of consumer benefits 1. Best quality Richard Branson once said that being the best at something is a pretty good business model.Think of brands that set a standard, like …Stradivarius violins. You don’t have to be a sports nut to have heard of the 125-year history of the Louisville Slugger, nor do you have to be a classical music aficionado to have heard of the legendary Stradivarius violins. Brands that set standards are sometimes luxury brands, but not necessarily. You don’t need luxury to set a best-in-class standard. Brands like Benjamin Moore define quality in their categories. That’s an enviable position and a value proposition that works.…Stradivarius violins

Financed bySupported byImplemented in cooperation with Four types of consumer benefits 2. Best bang for the buck. Recessionary woes have amplified the fact that some consumers will always buy on price. Best-in-class value doesn’t always mean lowest price, however, but rather the best quality-to-price ratio. Jet Blue is a good example of a company that, though it may not offer the cheapest or best in comfort travel, does a good job of communicating its value relative to its price point. Dell, Chipotle, Ikea, and Toyota are other good examples of best-in-class value, and their value propositions have been sustainable through the years. Incidentally, the founder of Ikea, Ingvar Kamprad, has regularly traded places with Bill Gates on various world’s richest lists.Ingvar Kamprad

Financed bySupported byImplemented in cooperation with Four types of consumer benefits 3. Luxury and aspiration. On the other end of the spectrum from bang-for-buck players are luxury providers that promise the experience of a wealthy lifestyle to aspirational consumers. Ralph Lauren is one of the masters of a lifestyle luxury brand; others are Rolex, BMW, and Hermes. While the luxury segment was hurt during the downturn, it is almost certain that as the economy rebounds that customers will return to luxury goods as their discretionary spending increases.

Financed bySupported byImplemented in cooperation with Four types of consumer benefits 4. Must-have. One of the most attractive value propositions we have seen and studied are the “must-haves.” These include basic goods — certain foods, for instance. During my prior work with Thomson Reuters, we often talked about “must-have” content that business professionals could not do their jobs without. The critical legal information and tools WestLaw provides to lawyers are an example. As long as there are legal cases, there will be a need for legal information. It does not mean there will not be competition, but if the category you are pursuing is must-have, then the market leaders will have a great prize to share.WestLaw

Financed bySupported byImplemented in cooperation with exercise Write an ad for the local Newspaper The title is "Seeking the customer" Text ads in 2 rows No mention of what you are doing 3