When I relocated to Ghana some 10 years ago, lunchtimes were somewhat of a nightmare. My colleagues and I were often left scratching our heads trying to think of places to buy lunch and left to the mercy of restaurants in and around the Circle area (the less said about that the better!).
Ten years on, thanks to apps such as Bolt Food, the story is very different and the choices are endless! Now I am faced with these choices I’m constantly asking myself (consciously or subconsciously), What’s in it for me?, the quintessential question that helps consumers like myself ‘cut through the noise’ and deal with competing choices. So, with all that modern life throws at today’s consumers and with the abundance of competing options made possible by technology How do you ‘cut through the noise’ and make your brand stand out from the crowd?
The answer: your value proposition.
A value proposition is defined “as the collection of reasons why a buyer makes a purchase”. (Mike Schultz)
A value proposition is not a statement, but a concept about why people buy something.
A value proposition also addresses the question “What’s in it for me?” and is arguably the single most important element of your entire marketing messaging strategy, working from what the customer needs or desires rather than what you are simply offering. It is imperative that you constantly ask yourself “What’s in it for them?” and factor this in entirety into your offering before it crosses your prospects mind. Once a prospect understands what’s in it for them, it creates the necessary emotion in their evaluation which then compels them to take the next step in their buying journey.
Here’s an example:
Glovo is an online delivery app that has recently launched in Ghana. They offer to ‘shop on your behalf’, allowing users to order almost anything (including food, groceries and medicine) and guarantees delivery within minutes. The value proposition of Glovo is clear; it focuses on user experience, short delivery times and a broad product range to differentiate itself and offer value to its customers. By receiving “whatever they want” within a specified time period, the app transforms the way consumers access goods; I would say their value proposition is simply irresistible!
How to make your value proposition shine through
When assessing your brand’s value proposition, think “What’s in it for them”? Think about how your product or service can fulfil customer needs in a distinctive way; as the market advances and expands, it’s this positioning that will allow your brand to stand out and continue to provide value for customers.
Ask yourself:
- Who are my target audience?
- What value-adds or benefits will motivate my target audience to purchase my product or service?
- What is unique and differentiates my brand from that of my competitors?
- What problem or pain point does my product or service solve?
A value proposition should explicitly or implicitly communicate the above and capture the essence of your offering’s unique benefits and how it solves a pressing problem, meets a need or ‘relieves pain’ better than the other products and services on the market. Make it shine through in all your marketing efforts, from your social media pages to your packaging and everything in between. Remember that distinction does not necessarily boil down to one thing; it could be a multitude of factors. For example, your favourite restaurant may not only have the best groundnut soup this side of town but also the best customer service!
Apple, one of the most admired and successful brands in the world do a great job of this with their marketing. Look at Apple’s website or visit their shops and you’ll see their value proposition throughout; from their products pages to their packaging, their value proposition is completely engineered to convince a prospect to lean toward Apple.
To sum up, there is no doubt that the business which thinks of the target first and addresses the question “what’s in it for me”, is in a better position to connect with their clients and prospects than one that doesn’t.. Go on, be an ‘artist’, paint a vivid picture, create a sense of excitement and conviction as to why someone needs or should want your product or service so badly! Show, Tell, STAND OUT!
