You decided on that specific brand. Do they seem trustworthy? Are they known for manufacturing safer vehicles, or for providing luxury?
Value propositions provide consumers with a unique guarantee that your product or service is the answer to their problem. At the core of this guarantee lies the trust that consumers will develop with you as a brand. So it shouldn’t surprise you to know that large corporations put a lot of thought and research behind their value propositions before introducing themselves to the public. Let’s take a look at some of the elements that big brands consider when crafting their value propositions.
1) Create a Framework For your Value Proposition
It’s important to define the elements of your value proposition that make your company unique. This requires having in-depth knowledge of your core audience and their interests and recognizing what sets you apart from other providers in the marketplace.
Create Spot-on Buyer Personas
Your market research and product knowledge should provide you with the data you need to know your audience’s demographics, including the following:
- Household size/Income
- Buying habits
- Where they live
- Where they hang out online
Buyer Personas create the foundation for your value proposition, as they’re what the majority of your product and brand messaging will be centered around. Don’t settle for unfounded assumptions of who your products and services cater to. Instead, get the facts and figures needed to help you zero in on the right audience with the right messaging.
2) Craft A Stellar Brand Image
The importance of branding your business can never be underemphasized. Every industry has new businesses popping up that are looking to make a name for themselves in the market. Your branding should set you apart from everyone in your industry with its uniqueness and innovation. What makes you so different from other brands? What will customers remember about you?
Consider the following attributes when crafting your brand’s image:
One of a kind products or services
Do you have a patented product or offer a service that none of your competitors are offering? If so, showcase it! There’s no better way to stand out from the rest of the pack than to simply offer what others can’t.
Create an identity for your brand that’s easy to remember. Find creative ways to stay in the back of your audiences’ minds. Things such as interesting logos, notable taglines, mascots, and humor-filled messaging can definitely give you the edge you need to stand out in a crowded marketplace. A prime example of this would be the infamous Geico gecko.
Use Your Influencer Clout
Do you have any celebrities, industry influencers, leaders, or other distinguished people that are tied to your brand? If not, don’t be afraid to go out there and find some! Getting well-known people to vouch for your brand (even if you have to pay for it) is definitely worth the effort, as consumers tend to lend more trust to them.
Have you ever noticed how some wine brands will have the awards that a particular wine has received right on the bottle’s label? It’s because as consumers, we care about status and industry accolades. We want the best of the best. As a brand, you can capitalize on this by using any recognition that you’ve received to help your brand appear to be a cut above the rest-which can also translate into your prices being a cut above the rest as well.
Think about the last vehicle you purchased and why yo
Your value proposition should speak to the trust that consumers can expect your brand to deliver on its promise. Establishing trust as a brand is absolutely crucial to creating customer loyalty and long-term product advocates. Brainstorm the different ways that your brand can establish trust with your audience. Think about any guarantees, authentic testimonials, authoritative figures, warranties, or other risk-reducing elements that you can provide.
Remember, a good value proposition is one that sets your brand apart and establishes trust and consistency with your customer base. Understanding and illustrating your unique value ads can help you develop a solid customer base and a memorable brand.