Last Updated on October 31, 2020 by Elevate Digital
Are you wondering how to create a compelling value proposition?
A value proposition that ACTUALLY helps to convert visitors into sales, and doesn’t send them to sleep…😴
Smart move… because your value proposition, or at least your ability to clearly articulate it; will ultimately make or break your marketing success!
So in this article, I’m going to help you get crystal clear on what you’re actually offering the market and how to make you offer truly irresistible to potential clients.
Whether you’re looking to create one from scratch or just revitalise a value proposition that is no longer working; I’ve got you covered!
But just be careful, this method REALLY works…
The Three Components To A Compelling Value Proposition
So there are three core components to your offer and value proposition:
- The WHO
- The WHAT
- The HOW
The first step is figuring out exactly who your value proposition is for. Who is that particular individual or company your product or service is really going to benefit.
Asked another way; who is our PERFECT customer?
How To Find & Communicate Your Niche
Not having a clearly defined WHO is one of the biggest mistakes a lot of businesses make (and we also made when starting)
They assume their business can just help everyone (which may well be true) but this leaves you struggling to clearly define your message.
As a result, you’ll struggle to get anyone to take action AND where to find your water hole of customers so to speak.
If you can somehow tie your “who” intro your OWN story, it’ll serve for some great marketing collateral.
For example, let’s pretend you’re a female business/lifestyle coach who started her business from home to spend more time with her kids after a near death experience…
A great WHO would be busy female entrepreneurs who have been consumed by their business and are now desperate to spend more time with their own kids.
Because not only do you intimately know this audience and their struggles. But you can weave in your own personal story into the offer.
And after all, people buy with EMOTION and justify with LOGIC.
Now, this doesn’t mean you can only ever work with a single segment of your market.
But at these initial stages, it is CRITICAL, you focus your messaging on a defined segment to gain some initial traction. Once you’ve got momentum, you can then look at expanding your marketing message to a wider audience.
This doesn’t even need to be about demographics or industry; this is more about asking what specific kind of problem is my audience having.
For example, if you’re an Agency providing remote workers or VA’s.
A lot of businesses would say that their WHO is:
“Anybody who needs a VA.”
But if we were to get more specific, we could say:
“We help startups who are struggling to juggle their list of tasks and seem to have a never-ending to do list. They know this is limiting their growth but they simply can’t afford to hire a full time employee.”
Now let’s pretend we saw the two in our social media feeds (or anywhere online for that matter)
The first statement is very generic, you might get a few bites from just being in the right place at the right time. But you’ll end up heavily commoditised and unable to charge what you’re really worth and actually grow.
The second statement however, speak to a very specific audience and a PAIN that they have. It commands attention from that audience because it demonstrates understanding. You are now seen as a specialist and the perceived value and appeal of the offer increases.
The irony here is that most people feel scared that by being specific, they are limiting their audience.
But there is a saying in marketing “if you speak to every, you speak to nobody”
You have to remember, people are bombarded with THOUSANDS of messages every day. If your messaging is broad and generic, you become noise.
If you can be razor sharp and specific, by speaking to a particular pain/problem, you cut through the noise.
As such, if you take two startups, one with broad and the other with specific messaging. The specific messaging will almost ALWAYS grow exponentially faster.
This also helps because we are now able to identify where our specific audience is going to be hanging out online, instead of being scattered because we’re trying to speak to everyone.
If you want a deeper dive on crafting the WHO for your value proposition, check out our guide on How To Create A Customer Avatar where you’ll also be able to grab a handy worksheet!
Now that we’re clear on WHO we’re serving.
Let’s get onto the WHAT…
Want personalised feedback on your website and value proposition?
Defining The “What” Of Your Value Proposition
Getting clarity over what you’re ACTUALLY offering is a critical component of creating a compelling value proposition.
You’re probably saying to yourself “come on Tom, I already know WHAT I do!!”
But stick with me!
See, the key thing to remember here, is people do NOT care about your product or service.
In all honesty, they don’t really care what you do full stop.
I know it might be hard to here but it’s true.
Write this one down…
Your product or service is nothing but a vehicle to get people to their desired outcome.
As such, your WHAT should be focused on the transformation.
Whether that be:
- Increased social status
- Less anxiety/More happiness
- Better health
- More money/wealth
This list is endless, think about the REAL reason, people are buying your product/service – What are you rescuing them from?
Making A Truly Irresistible Offer
There are also a number of components that help to make the WHAT of an offer truly irresistible
- You clearly articulate the transformation you offer
- You demonstrate the before and after
- You have clearly defined steps you take people through to get them that results (make it as simple as possible)
- There is a repeatable system for getting results
- You have created some form of IP (your own unique system or framework)
- It is emotionally compelling and solves a big problem
- Risk reversal – can you offer some form of guarantee?
Now that we’re clearly on the WHO and WHAT
The final stage is the HOW – this is the nitty-gritty and the way you help people get their desired result.
This isn’t so important and will likely evolve over time as you grow the business, but you’ll likely already know this very well so I won’t teach you to suck eggs.
To help you understand how this looks in action, here are two example of an offer by a personal trainer (this concept also applies to physical products):
WHO: People who want to lose weight
WHAT: Help them get thinner
HOW: 1 on 1 training over zoom
Not particularly exciting is it?
Yet it sounds like the THOUSANDS of personal trainers out there. Oh and offering special seasonal discount isn’t going to help much either!
Now let’s look at a different version of this offer that calls out and commands attention from a SPECIFIC audience.
WHO: Overweight, busy executives who have tried multiple diets, weight has been up and down for years and are starting to have health complications. They don’t even have energy to play with their kids anymore which break their heart! They are sick of FAD diets and are desperate to find something that just works!
WHAT: Help them identify the root issues that keep them stuck in this cycle and empower them to lose weight permanently over the course of 90 days so they can get their life back; whilst feeling fully energised and empowered
HOW: 1on1 coaching and group coaching hybrid using the MindMastery MethodTM
See the difference?
If you’re still struggling to see how this can apply to your business or maybe you think you just work in a dull and boring industry.
Here’s how to change that:
So, What’s Your Value Proposition?
Now it’s your turn!
Hopefully this guide has given you all of the tools you need to create or just revitalise your value proposition in a way that will help you stand out in your market place and attract you dream clients like a magnet.
If you got value from this, be sure to share it and check out our free guide below to help you put that new value proposition to use on your website!