The all-important value proposition. A great quote from an industry expert said this about value propositions, “One of the biggest reasons businesses struggle in today’s market, is because they have weak value propositions. They just aren’t saying things that get prospective buyers to say, ‘Come on in. We need to meet’.” Another interesting statistic that supports the importance of a dynamic value proposition – 75% of executives in large company’s blame poor value propositions as a major cause of their products failing to achieve projections.
A value proposition is a clear statement of the tangible results a customer gets from using your products or services. It’s outcome focused and stresses the business value of your offering. For several years, I suffered from a similar dilemma. I proposed that my business model was my value proposition. It was built around “how” I do work but this is only part of the equation. The more important value is in the tangible proven results I am able to provide as a result of the business model. So, over time as I honed strategies around helping clients createtheir value propositions, the template that we now use expedites value proposition development effectively. I don’t mean to short change the time and effort that goes into pulling a lot of parts and pieces together to assemble a “dynamic” value proposition and DYNAMIC is the goal. One needs to do the homework and uncover the data that accurately articulates the story. Once all the critical data is gathered, here is the formula we use at The W Partners:
There are Five Key Elements:
- Target Market
- Point of Difference
- Frame of Reference
- Reason(s) to Believe
For (Target market), (brand) is the (point of difference – We typically include 3 supporting benefits here) in the (Frame of reference – Industry) because (reason to believe – This is statistical.)
Here is an example
“For manufacturing, construction, pharmaceutical, oil and gas companies looking to reduce operating costs, COMPANY ABC is the premier waste processing facility in the Mid-Atlantic region, providing turn-key waste recovery & recycling solutions using the latest technologies. Unlike other waste facility solutions, our 3-stage process allows us to customize treatment solutions to eliminate multiple waste streams from cradle to grave. Our approach has saved companies up to $100,000 per year diverting waste from landfills, save 10% through our bundled services and eliminated the risk of as much as $5,000 in potential government fines through our 100% compliant practices and accredited waste facilities.” From here tag lines and messages easily emerge.
What is The W Partners value proposition? Glad you asked. Well, maybe you didn’t, but here it is anyway:
For manufacturers and service companies The W Partners is their marketing SWAT team. We partner with the visionaries of these companies to accelerate marketing effectiveness and increase revenue. Speed is accomplished through driving alignment and revenue improvement is accomplished through the implementation of 1 or more of our 4 proprietary, templated programs designed to a.) improve launch effectiveness, b.) provide direction around critical marketing challenges and opportunities, c.) improve customer loyalty and d.) streamline brand messaging. Unlike other marketing and creative agencies, we deliver these programs and relating creative services through a network of over 60 vetted marketing and creative specialists. By providing these acceleration programs, we are able to shorten time to success by 6 months or more.
The W Partners
Your Marketing SWAT Team – Partnering with company visionaries to accelerate marketing effectiveness and revenue growth.