I am writing this just after the sad news that the Queen has died after 70 years on the throne and in service. Whether you’re a fan or not of the role of monarch, it did get me thinking about the link to this weeks topic. Service…and the impact that can have on other people.
Of course, I hadn’t thought about talking about service specifically – actually the topic was value proposition. However, a great value proposition is about identifying the value and service you bring to your customers. Revisiting our true value to others and refining that in our communications is key to building a loyal tribe.
So here are some reminders, tips & ideas to help you really dig into the brilliant value you bring to your people and how to share that:
What is a value proposition?
It isn't about the 'stuff' that you sell, whether that be products or services, but what difference they might make to your customers. It is the element that will help you differentiate your business from others. It is the basis on which you can build meaningful relationships with your customers.
How to define your VP?
There are several ways to identify or revisit your VP. Regularly staying in tune with your VP will help keep your marketing strategy on point.
Using an 'Elements of Value' pyramid can be a useful start (image below). The idea is that all our business starts by offering 'functional' benefits to our customers (a service or product that solves a pain point etc). List those elements of your business. Then, we move to the next element up, the 'emotional' level. These are the additional benefits that customers might feel (less stress, more confident, part of a community etc). Then there is the next level of 'life changing' when the value is felt even more (provides hope, helps people achieve their dreams etc). There is also sometimes a final level of 'social impact' when a brand might change their very sector.
Ask your customers! Sometimes we're busy doing our business and we can lose sight of exactly what our customers love about what we do. There can be real nuance in this. Why no ask them on an Insta story or a little Google Form questionnaire or even take a look at your social analytics.
Make a list of the 'stuff' that you offer or do and then next to each point, write down an experience that goes with that. This useful exercise can help us identify the impact of how our customers will feel when they receive your service or product. For example, you sell hand made gifts and the experience is that it arrives wrapped in tissue paper with a hand written note and maybe a card about how it was made. Another example might be that you sell web design services but that you provide a bespoke, all in one package that lasts 12 months.
How to communicate your VP?
This point could go on for a long time! But...in essence, you're looking to capture all those nuanced elements of value in images, reviews, quotes, music, videos, personal messages and behind the scenes fun. If we are able to market our business on those elements instead of the stuff, then we are winning.
Take a look at your list of experiences and think about how to can convey those elements in your emails, posts, stories and blogs. It is useful to stick to micro elements at a time to provide variety of content and to spark the connection with individual customers. Check out our How To Guide archive and workshop recordings in the Member Hub for more help to create a marketing strategy.