Value Proposition: What Is It & How to Create One

March 06, 2018

Today I’m talking to Momoko Price, a commercial copywriter who works for giants (AT&T and Base CRM) and startups (Respondly, which was acquired by Buffer). Copywriting is important and one of the biggest parts of marketing. Naming your value proposition is one thing in copywriting that is critical. It sends a strong message that convinces people about the value you can provide them.

Topics Discussed in this Episode:

  • What it means to have a value proposition
  • Create a clear statement/reason for why someone should choose you
  • Value Proposition = message that convinces people to buy from you
  • Playing multiple roles, including creator and seller
  • Step-by-step approach to create a value proposition
  • Conduct onsite visitor and customer surveys to build the value proposition based on empirical research
  • Always include these two, open-ended questions in your surveys: 1) top benefit customers receive, and 2) differentiation (why the customer chose your product over another one)
  • Momoko prefers using Hotjar for surveys and customer feedback
  • Keep surveys short - about 5 questions; and provide options/choices
  • Utilize competitors’ product reviews
  • Focus on message mining before surveys if you don’t have customers to ask and have a low-traffic Website
  • Categorize and quantify message themes using Excel or Google spreadsheets and tags
  • Products that analyze data and delegate data tasks (TaskArmy, Mechanical Turk etc.)
  • Utilize pivot tables in Excel to summarize data into tables
  • Tag data using colorful, memorable, vivid descriptions for headlines; find terms and phrases that are eye-catching to include in value proposition
  • Sticky Copy: Copy that evokes image or sensory perception in your mind that drives a feeling of the benefit - an emotional trigger
  • Bits and pieces of a survey come together to create a value proposition headline
  • Value proposition headline should include keyword of what you’re selling and top desired outcome/benefit - avoid being clever
  • Avoid focusing too much on differentiating yourself and being overly unique about your brand identity in value proposition
  • Value proposition should be clear, effective, honest, and transparent
  • Examples of how to optimize and increase Website revenue per visit
  • Tribe Bi-flow: Website narrative details and demonstrates pain points, solution, product-related benefits, reassurances, and call to action
  • Revise Website content if not getting results
  • Future of machine learning and marketing

Resources:

Quotes from Momoko:

“They only have have so much attention when they’re on your site anyway. If you’re wasting that time trying to get information for them for value proposition messaging, you maybe interrupting their ability to go and actually buy something.”

“Yes, sometimes a value proposition headline is not the sexiest headline because it needs to be super clear. You can’t risk implying something about what you offer. You just need to be straight about it. We provide this product that gives you this benefit.”

“I do think that machine learning has a lot of potential to anticipate need, and to anticipate desire, and that’s something that marketers that’s kind of your wheelhouse.”

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