Is your current value proposition creating the results you expect?
We are introducing a new approach called B2P or Business to Professional. As the modern buyer evolves their behaviors, personalization and communication of value to an individual has become critical to producing the results you expect.
As the modern buyer becomes the majority, chances are your business or organization isn’t communicating its benefits to members in an optimized way.
Rather than targeting specific individual groups and truly understand a customer’s needs, organizations tend to focus on features such as discounts and price compared to competitors.
Selling on price can only take a company or organization so far
A far superior approach is selling on value, and learning how to leverage a product as a solution to a problem is far less fallible an approach.
Crafting a well thought out value proposition is critical to create a clear, focused Member Value Proposition to market a product effectively.
Learn how to do this in the steps below.
A Value Proposition must answer three key questions to ensure success:
- How does your product solve problems and/or improve situations?
- What specific benefits can members/leads expect?
- Why should members buy from your association rather than your competitors?
One knee-jerk reaction is marketing based your/your competitor’s prices, such as advertising that you are the cheapest option, that you currently have a discount, and other number related benefits.
A big problem here is fluidity in prices; if you tell your members that your main benefit is your pricing, you may lose them if a competitor lowers theirs.
To maintain your members and gain new ones, you must appeal to their needs and wants deeper than price point. Focus on how your product will solve a problem, how it will add value.
You can begin targeting your target member’s needs through research, and there are several methods of getting to know your buyer personas.
Secondary and desk research, descriptive quantitative research, qualitative research, and empirical/observation based research are all ways you can investigate your potential members.
Extensive information about them will heed valuable insight into what they are looking for. Make sure to employ multiple research methods- this will bring the best results.
VALUE PROPOSITION CANVAS
The next step is taking what you have to offer-benefits, features, experience-and relating them up to your persona’s wants, fears, and needs.
The benefits you provide create the value you can offer to the customer.
The framework you will want to follow is as follows:
Member need >>> Product features >>> Member Benefits >>> Call to action
Now it is time to begin developing the message.
Once you begin, remember to keep things clear, concise, and focused.
Communicate the specific results a member will receive and how it is different/better than your competitors.
CALL TO ACTION
The call to action may be a tough at first. It needs to be direct, pointed, and incorporating the project.
One should be sure of what you are offering after giving it a quick glance, so write it to be easily digestible.
We offer a template you may use for download.
Once you have filled in the framework in the template, employees can communicate the value of your product much more effectively.
No longer will you market solely based on price and discounts- you will have the ability segment in a better way and communicate with individual groups.
Crafting an in depth message meeting targeted needs will appeal to a range of members’ concerns while stating what your business really offers- not just a discount you have over your competitor.
We will be adding several templates and examples to this post.
2040 Digital offers a free 1.5 hour workshop with you and your team to bring forward how to conduct the exercise and begin to match your services and benefits to your professional members and customers. Contact us today!