The traditional value proposition is defined as:
Value = Benefits – Cost.
In other words, people buy from brands that deliver more for less.
In the past, when the focus has been on “faster, cheaper, bigger, now”, it was enough to think only about the rational benefits your brand offered – and to build your value proposition from there.
Today there is a need to radically overhaul the definition of “benefits” when articulating value propositions.
Today people are seeking ways to create new meaning in their lives, brands need to go beyond rational appeals and embrace the way they help people live better lives through their products, services and experiences.
A modern value proposition equation, therefore, is defined as:
Value = emotionally meaningful benefits – cost
Emotionally meaningful benefits provide a fresh and appealing look at how your brand could thrive in the hearts and minds of people.
To uncover the emotionally meaningful benefits of your brand, ask yourself these questions:
- How does my brand help people become smarter, wiser, fitter, closer together, more resiliant, more self-sufficient?
- How does my brand help them grow, achieve more and fulfil their human potential?
- What does my brand do to make the communities we serve better off?
- In what ways does my brand help make the world a safer, fairer, cleaner, more humane and more sustainable place?
Seeing your brand – and your value proposition – through the lens of emotional meaning is just the start.
A truly “valued” value proposition is written in approachable, human language that is easy for your employees to internalize.
The job of delivering emotionally meaningful benefits to people helps your employees create new meaning in their lives (through more purposeful, mindful and fulfilling work) as they help people create new meaning in their lives (through a brand that is dedicated to improving lives, communities, socieities and the planet).
It’s a win-win-win strategy with more engaged employees, more gratified customers and a more powerful brand in the equation.
Emotive Brand is a San Francisco strategy firm.