Every business has a Brand Value Proposition Statement to share, and it is arguably the most important element of your overall marketing messaging. If your proposition doesn’t communicate how you meet customer needs and demands, you risk missing out on a potential sale and losing market share to your competitors.
What is a Brand Value Proposition?
Your Brand Value Proposition highlights the value you promise to deliver to your customers. It tells them how their lives will improve if they choose your particular product or service. This isn’t just a list of features but a clear statement that speaks directly to a customer’s pain.
Research by The Guardian found that businesses which focused heavily on refining and sharing their Brand Value Proposition over ten years grew by 76%, even when their promotional efforts weren’t on point.
What should I include in a Brand Value Proposition?
Within your Brand Value Proposition, you need to:
Be relevant - explain how your product or service solves a specific problem experienced by your customer or improves a situation for them
Be targeted - identify your target customer segment and speak directly to them
Quantify the value - tangibly highlight specific benefits
Differentiate your offer - tell your ideal customer why they should buy something from you and not from the competition. This highlights the Unique Selling Points of your product or service.
What is the difference between a Brand Value Proposition and a Unique Selling Point?
There must be a clear distinction between your Brand Value Proposition and your Unique Selling Points (USPs). A USP is a feature or characteristic of a product or service that sets it apart from the competition and makes it more appealing to the buyer. It describes how you are different. On the other hand, your Brand Value Proposition tells people why they should care about that difference.
What are the benefits of a strong Brand Value Proposition?
- Increases not only the quantity but also the quality of prospective leads
- Influences the decision-making process of your customers
- Creates a strong differentiation between you and your competitors
- Equips your team with a clear and consistent message to communicate
Why is your Brand Value Proposition important to customers?
Customers go through a decision-making process every time they are looking for a particular product or service to buy. By helping them to understand the value your business can offer, they can easily see the best option available and quickly move through the buying cycle.
Do I need a different Brand Value Proposition for every product or service that I offer?
The answer is...yes. You will develop a Brand Value Proposition for your business as a whole, but each product or service you offer meets a different need or solves another pain point. These products or services may also be aimed at a specific customer segment, so it’s crucial to have a Unique Brand Value Proposition for each.
How do I write my Brand Value Proposition?
There are several different ways to structure your Brand Value Proposition. Steve Blanks is a former Google employee who runs the Lean Startup Circle, and he has developed a simple formula for creating your Brand Value Proposition.
We help (X) do (Y) by (Z)
As an example, the Brand Value Proposition for our business is:
We help start-up and scale-up businesses to grow by clearly identifying and communicating their value to customers.
This has then been simplified into a four-word statement - Delivering Brand-Led Growth.
Another tool you can use to structure your Brand Value Proposition is Alexander Osterwalder’s Value Proposition Canvas. On the right-hand side are the elements linked to your customers, such as their pains and the jobs they want to get done. Then on the left-hand side, you have your business. The goal is to match the value of your products and services to the customer's needs on the right.
How do I test my Brand Value Proposition?
Testing your Brand Value Proposition is key to ensuring its success and helps you see if it resonates with your customers.
- Pitch it directly to them and listen to their questions in return. You might even ask a customer to recite your Brand Value Proposition and see if they communicate a similar message.
- Apply your Brand Value Proposition to your website and test if it leads to any conversions.
- Use it during a sales call or LinkedIn outreach campaign. If you don’t receive the response you were hoping for, you may need to tweak things further.
In trying to determine whether you have a winning Brand Value Proposition ask yourself this question - ‘Am I creating a red ball when the market is demanding a green ball?’
This will help to prevent your business from working tirelessly on a product or service that fails to meet a customer’s wants or needs. Founders of start-up businesses often trip up here as they are so focused on creating something they like. They do not first check with the people who will eventually buy it.
