A great value proposition can make or break a business. Sounds dramatic but it’s true. Your value proposition should form the basis of all of your sales and marketing messaging. Your messaging is the first impression of your business that a prospect gets. Hence, your value proposition goes a long way to positioning your company in the mind of the prospect.
The ideal value proposition should be short – no more than 75 words, should be written in clear concise language rather than sales jargon, and should tie together the following five elements:
- It should solve your prospect’s challenges and be of interest to them
- It should include a differentiator that’s truly defensible against your competitors
- You should be able to back up your statements with statistics or evidence
- It should be bespoke for type of ABM that you’re doing – either one-to-one, one-to-few or one-to-many
- It should use ‘you phrasing’ to make it customer-centric, ‘you’ meaning the customer, as opposed to ‘we’
I’ll use Punch! as an example of how to create a value proposition combining all of the above into a neat, concise two paragraphs. This should give you an idea of how to go about building better value propositions for yourself.
A Value Proposition Should Solve Your Prospects Challenges
One of Punch!’s buyer personas is senior marketing individuals within the Tech sector, often CMO’s, or Marketing Directors.
We know from our research that one of the main challenges for our Marketing persona is that it’s more challenging than ever to stand out in a crowded tech market. Companies are all using the same channels to reach out to potential customers and it’s important to find new ways to break through the noise.
So our value proposition has to contain within it something that will address the above challenge and solve it for our prospects.
We now have a business challenge experienced by our target buyers, so we need to leverage one of our differentiators. This is essentially a unique selling point, but with the emphasis on unique. This needs to be a benefit that none of our competitors can offer.
The challenge is standing out from the crowd in a busy market. So to overcome that challenge, we need to reach out to our prospects in an innovative way. Something that will set us apart from the competition.
At Punch! we use one-to-one personalised video messaging to engage with potential buyers. This works perfectly for two reasons. Firstly, we’re the only ABM agency in the UK using one-to-one personalised video messaging on our client campaigns, which differentiates us from the competition.
And secondly, the one-to-one video strategy is unique among agencies. This solves our Marketing persona’s challenge of how to reach out to their target accounts in a way that will make them stand out from their competitors.
Backed by Stats
Thirdly, are there any stats to back up our two contentions – that it’s harder to stand out than ever before, and that one-to-one personalised video messaging is a way to help our clients do this?
We could reference the fact that there are 100,000 new tech firms that launch every year, which helps solidify the challenge of standing out.
We also know that embedding a one-to-one personalised video message within an email generates an 8x higher click through rate than a typical marketing email.
Works With Your ABM Tactics
Generally speaking there are three types of ABM – one-to-one, one-to-few, and one-to-many. And your value proposition should be aligned with the type of ABM you’re doing.
For one-to-one ABM, each account is treated as its own specific market. With that in mind, you should develop specific value propositions for each account.
When you’re doing one-to-few ABM, accounts are grouped by sector. So your value propositions should focus on challenges within those sectors.
In one-to-many ABM, you will be reaching out to potentially 100+ accounts across numerous sectors. That’s why you should build your value props around the similar challenges faced by your key stakeholders in different sectors.
With Punch! we focus our efforts on the tech sector, so our stat has been specifically selected to resonate with people working in tech.
The Value Proposition
So trying to pull all of those elements together into a value proposition, how about the following –
With 100,000 new tech firms being launched every year, it’s harder than ever to stand out from the crowd.
With Punch!’s one-to-one personalised video marketing strategy, you’ll be able to generate an 8x higher email click-through rate and engage your prospects in a way that will differentiate you from any of your competitors.
It’s concise, it addresses the challenge of our prospects, references a differentiator from our competitors, and backs up both of the previous two points with a relevant stat.
Use the above method to work on your own value propositions to develop a value prop that really works. If you’re having trouble knowing what differentiates you from your competitors, check out our blog on how to find your differentiators.