As marketing professionals, defining a strong value proposition for any product or service is one of the most difficult professional tasks we face. It requires a great deal of thought and the ability to truly put yourself in the customers’ place, intellectually taking on their problems and needs as your own. But what if you are responsible for creating a unique, differentiated value proposition for an industry that is highly competitive, as where product and service differentiation is truly in the details?
Say, for example, you work for a company that sells high-end, industrial coffeemakers. How do you figure out what truly differentiates one coffeemaker from another in the mind of a barista or Italian restaurant owner, and then wrap it up into a nice, succinct sentence? First, let’s define the characteristics of a strong value proposition:
- Differentiation between your product and that of the competitor. What makes your product, or the way in which your product is sold, maintained, etc, different from all your competitors?
- That which is not differentiated from your major competitors must be equal to competitor’s claims.
- A particular solution or aspect of your product must take center stage as better than any competitor.
That said, you must now put significant thought into the synergy or intersection of those basic principles of a strong value proposition and the value-added aspects of your coffeemaker product as perceived by your customers. In the eye of your customer, what is different from one coffeemaker to another? Fastest brewing times? Best quality bean grinders? Easiest to clean? Least expensive to maintain? Whatever the differentiators may be, find them as they apply to your product and flaunt them!
Now, highlight the fact that all the products you sell match any of your competitors in terms of price (or at least the price one might pay for the same quality as you are offering), reliability, durability, etc.
And last but not least, what is the one true stand-out quality that makes your coffeemakers—or the way in which you sell them and treat your customer—the best choice? Do you offer the best warranty terms? Do the brands that have the best longevity in the business? Do you offer the quickest repair turnaround times, or onsite repair technicians? Perhaps your delivery times on orders are the fastest in the industry? Whatever it may be, make sure this is clearly stated for your customer front and center!
So, what might a well-structured value proposition for a commercial coffeemaker sales organization look like? “We sell the highest quality, longest-lasting coffeemakers at low prices, assuring you get the coffeemaker that best suits your needs as quickly as possible.”
What if you have followed these guidelines and your value proposition is not unique, or does not draw in clients? The value proposition must highlight your competitive edge. Perhaps you missed it? Ask your coworkers and your customers what makes your coffeemaker, organization, service, etc. unique in their eyes and go back to the drawing board.
Read More…
- Back to Basics Marketing
- Marketing as Company Wide Responsibility
- Mobilization: Reaching Outside the Marketing Department
- Advanced Lead Qualification: Sales and Marketing Work Together
- Sales’ Feedback into Marketing: Profiling Prospects and Their Problems
- “Inside Marketing”: Marketing to Your Own Sales Organization
- Developing Unique, Customer-Focused Value Propositions
- How to Train an Entry-Level Marketing Employee
- When Return on Investment Doesn’t Paint a Full Picture
- You Are Here
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