The creation of the value proposition has a long history.
Businesses are absolute wizards at coming up with new products and services, figuring out how to make and distribute them, and backing them up with service.
Ironically, they often are unable to craft a value proposition for their offering that couldn’t be easily used by their competitors.
They write bog-standard, uninspiring, business-speak statements, filled with jargon that go in one ear and out the other of both employees, prospects and customers.
As such, they end up saying nothing significant to the people vital to their success.
This situation is becoming more and more acute for many businesses, as it becomes harder and harder to create significant and enduring competitive differentiation based solely on features and benefits.
Furthermore, people inside and outside the business have come to expect a new level of conversation when being asked to hand over their time or money.
Time to re-value the value proposition.
A meaningful value proposition is a valuable business asset.
It drives an organization to consistently deliver on a brand promise that truly matters to people.
From product design to manufacturing to distribution to promotion to customer service, a well-crafted value proposition ensures a constant flow of quality products and services that people want, which are promoted and serviced in ways that matter.
A bland, “me-too” value proposition compromises all that.
Non-communication adds to confusion, lethargy, and pronounced non-differentiation.
To understand how a value proposition can be meaningful to people, we need to rethink the idea of “value”.
In the past, it was enough to express value in terms of +% and -%.
So, our offering is % faster or this % cheaper.
So, our offering is new and improved.
So, our offering delivers quality, service and value.
Today, value has a new dimension: Purpose and Meaning
When a business is driven by purpose, meaningful value propositions write themselves.
That’s because such businesses have enabled a higher-level connection – one that bridges rational thinking and emotional experience.
They understand that, as the saying goes, “People don’t buy drills, they buy holes.”
They understand that their success depends on their ability to help people create more meaning in their lives. They show empathy in truly understanding what their needs are. And tapping into something more meaningful.
“Value” relates to the outcomes of a being associated with the business, or owning and using one of the business’s products or services.
These outcomes operate along a spectrum, from personal benefit to social responsibility to environment protection. Even a higher level of understanding.
A business driven by a Purpose knows where along that spectrum their sweet spot of meaning lies.
That is, they know what is good about what they do… and, most important, why that matters to people.
Their purpose shines a new light on their business, their offerings, and their value propositions.
From behind the +%’s and the -%’s, there emerges meaningful truths about what’s being offered that people can grab onto, internalize, and turn into meaning.
Through this process – the internalization of the business’s “good” – people find a special place for the business, product, or service in their hearts and minds.
By rethinking “value”, you can matter more to people and thrive as a result.
From this meaningful position:
- Your business breaks through the clutter and rises above the herd.
- People become buyers, repeat buyers, and active advocates.
- Employees become happier, more aligned, and more willing to help your business succeed.
Move beyond features and benefits. Lead with purpose and watch your business thrive.
Emotive Brand is a San Francisco brand strategy firm.