Many B2B companies are finding the shift to ecommerce challenging. Oftentimes, these are the same organizations that have historically relied on sales teams to drive their marketing needs. As their business moves into a digital sales environment, they are coming to realize they must change their tactics to create a strong, proactive digital communication foundation.
B2B executives are commonly asked the question: “Why does your customer buy from you over your competition?” The response typically surrounds service or expertise. This is a great start, but it is important to consider how you are translating these efforts to ecommerce as you are developing your marketing strategy.
Developing a strong customer value proposition and giving people the reason WHY they should purchase from you is a critical component to success. This blog will explain everything you need to know about a value proposition and how it can help you generate new leads.
What is Value Proposition in Marketing?
A value proposition is a summary of why a customer should choose your product or service – the value that you provide to your customer over your competition. It is a major part of your ecommerce marketing strategy, and in many ways, it is the core of what your marketing plan is based on.
Not only does a value proposition show what makes you stand out from competitors, it demonstrates your value. It is important to recognize that what you consider valuable may not always align with what your customer considers valuable. You really need to put yourself in your customers’ shoes.
How to Develop a Clear Value Proposition
On the surface a customer value proposition sounds rather simple. You are the expert on your products and services, so it is easy for you to see the value. However, as previously mentioned, your customer may value your offerings in a different way than you realize.
So how do you start developing a unique value proposition?
First, you must clearly know what you do well. Identify what your promise is to your customers. This may be super easy, or it can take some time to really define what your promise is. Either way is fine as long as you get the end result.
Next, identify all the benefits your products and services offer. You can get as detailed as you want with this. Whether you list out each offering or group them, make sure they are focused on a single customer need. Try not to get stuck listing out every single benefit. Pick the most important and move on—especially if you have many offerings. After you pinpoint the benefit, write what makes that benefit valuable for your customer. This will make your brainstorming session much easier.
Once you clearly define your promise and your benefits, you must find your customer’s needs. Fill in the gap between where they are before and after purchasing your product or service. This is when you must think like your customer. Get down to the details and create a customer profile. Imagine the purpose of your products and services to them and how you are helping them solve their problem. Define their expectations and dig up their pain points – why do they work with you and what do you solve for them. Talking to sales or customer service team members can be very insightful during this part of the process.
Now that you have your promise, your benefits, and your customer’s needs well-defined, you should intersect them. This is where the brainstorming magic happens. Create as many value proposition statements as you would like before moving on to testing. When ready, put your summary side by side with your competitors’ online messaging and compare them. How does your product value proposition stand out? Does it demonstrate the value you provide your customers as much as your competitor’s statements do? Revise as necessary.
Make sure that your value proposition comes through the entire digital experience. Here are three examples:
- If you pride yourself on service, make sure all touchpoints are seamless and easy. This includes your chats and emails. Ensure they are personalized and proactive. This is beneficial regardless.
- If you pride yourself on your expertise, make sure you have a lot of content and education opportunities throughout. Think downloads, blogs, infographics, webinars, thorough product descriptions, videos, etc.
- If you pride yourself on timely deliveries, make sure you indicate clear delivery windows on your website. This is also good to do anyway.
Remember that a value proposition can change. It is not a permanent entity. As markets change and your business evolves, the value customers see in your business may follow suit. That’s perfectly okay and normal! The important thing is going back to basics to define the value proposition once again, so you can get to updating your B2B ecommerce marketing strategy.
Develop a Value Proposition with Expert Assistance
Whether you need a unique value proposition or want to refine yours, getting expert assistance will put you one step above the competition. You want to work with a marketing partner that you can trust to keep your digital marketing strategy fresh and up to date.
Enilon focuses on your unique needs with our customized approach. We tailor our solutions to your business priorities and needs. We can work with you to develop a value proposition that will be the foundation of your next digital marketing campaign. We invite you to contact us to learn more today.