We all recognize the brands we love. Whether it is the logo, the product, or the experience, there is something about that brand that makes us feel good.
For companies, a recognizable brand is one of the most valuable assets a company owns. It’s the face of your business and the first thing that pops up in your customer’s minds when they think of your products and services.
There are different elements of a branding process all of which should be taken into account when creating your company’s branding strategy. At Brandician we like to put a focus on a customer-centric approach, active use of psychology, and emotion-inducing design.
In this post, we take a look at the value proposition and 6 questions any business needs to ask themselves for successful branding.
What is a value proposition?
A value proposition is a part of your overall marketing and branding strategy. In its essence, it tells the story of what your company promises to deliver to its customers.
As a business owner, you already know the value of your business. However, you should make sure that your customers know it as well.
A value proposition is an easy-to-understand statement that summarises why a customer should choose to do business with you. It clearly communicates all the benefits they will receive from your products or services and highlights how those benefits resolve certain needs your customers may have.
Why is a value proposition important?
A value proposition is the core of your competitive advantage. This is because it is a unique identifier of your business that sets you apart from your competition.
As is already mentioned, your value proposition addresses your target customers. It communicates what makes your product or service attractive, why it should be purchased, and in what way it is different from the other offers on the market.
A value proposition is one of the most important conversion factors because it helps a customer decide why your brand is the one for them. It is also one of the essential parts of a successful branding process!
Branding, as you can read here, is focused on strategically creating an image for your product or service in the minds of your customers. It is connected to what customers think and feel when they see the marks of a particular brand. A good value proposition is an excellent addition to the successful branding process.
It helps you tell your brand story and creates positive associations in your target customer’s minds.
Also, one of the additional ways in which you may benefit from going on a value-proposition-writing journey is that you will have an opportunity to gain a better understanding of yourself and your customers.
How to write a good value proposition?
A good value proposition should be easy to understand and straight to the point. It should summarize your offerings, the value that your customers will receive, and in what way you differ from other similar products on the market.
Trello can serve as an excellent example of a good value proposition. This company clearly states what it is about and who it is for. It uses relevant images and engaging language to present its features and benefits. After reading their value proposition you know what to expect from them and if that satisfies your needs.
A well-written value proposition can become a huge success factor in your branding process. That is why you should not rush with it.
The most important thing when it comes to your branding process is for you to know yourself and your customer. This might be a bit challenging and it may take some time. But fear not, we have prepared a set of 6 questions any business needs to ask themselves for successful branding.
These guiding questions are here to help you tell your brands’ story and create your value proposition.
We hope you are ready because it’s time to get to work! Take your favorite notebook and try to give as many answers as possible to all of the questions that we prepared for you.
1. Who are you?
This may seem like an easy question to answer. But it is also a very important one. At Brandician we like to put an emphasis on your core values and fundamental ideals rather than just the features and benefits of your offers.
This is because knowing yourself as well as your products or services is one of the core ingredients for a successful branding process. So, take your time and write down everything about your business.
Describe yourself and your company. Take a look at your mission and vision statements. Think about what motivates you and where your passion lies. Write down your values and don’t be afraid to contradict yourself. Because being contradicting is just a part of the process and it can lead you towards a better understanding of your business.
2. What exactly do you offer?
After reading your value proposition, people should have a clear idea of what your offer is and how it benefits them. A good place to start is to pinpoint the industry you are a part of and what is your offering within it.
Think about the value your product or service brings to your customers. If by any chance you’re a florist, you may say that the value you are bringing to your customer are your beautiful flower arrangements. But that is not everything you are bringing to them, is it? Besides their pure aesthetic value, those beautiful flower arrangements may be a part of a wider experience, atmosphere creation, or even a way to awaken some beautiful emotions.
That is why when you are thinking about your products or services you should be a bit less literal and a bit more creative. The way you tell the story of your offer should be memorable and unique since that is the way your brand will stay relevant in your customers’ minds.
3. Who is your target customer?
Now that we know all about you and your offer, it is time to get inside the head of your target customer. Knowing your customer and their needs is as important as knowing yourself.
For answering this question, you should consider some demographic information about your target customer. What you might find interesting is their age, gender, level of education, and the amount of their monthly income. Depending on your niche you should go even further and consider information such as your target customers’ hobbies and interests, social media activity, or fitness level.
Make sure to notice if there is a difference between who your target customer is and the customer that actually consumes your products or services. This information can help you determine what type of customer responds to your brand. If your actual customers are not the ones you originally targeted and you are not satisfied with it, maybe it is time to rethink your marketing and branding strategies.
4. What are the needs of your customer?
A good value proposition should address your customers’ needs. To do so, think about the potential challenges and problems your customers may be facing that your offering is able to solve.
One of the amazing ways to understand the needs of your customers is recognized in the Jobs-to-be-Done Theory. This theory states that people buy products or services to get a job done and that those jobs are either functional, social, or emotional.
A functional job
This is a straightforward task that your customer is seeking to accomplish. An example of such a “job” would be the need to travel from one point to another. To discover your customers’ functional job, try to answer this question: “What task does my customer want to complete by using my offer?”
Humans are by their nature social beings, and therefore, there is a social aspect to all of our actions. This type of job is concerned with how a customer wants to be perceived by others. For example, if you are selling wedding dresses the chances are that your customers are seeking to find a dress that will make them look and feel beautiful on their wedding day.
Emotions are delicate but they are also an integral part of a customer’s decision journey. The emotional job is all about how a customer wants to feel. For example, a customer may attend your fitness class because it helps them feel more confident and powerful.
The best way to learn about your customers’ needs, problems, and challenges is to do market research. You could send out surveys to gather larger data or organize customer interviews and focus groups to gain more in-depth information about your customer.
5. How does your product or service satisfy your customer needs?
In the eyes of the customer, every product or service they buy has a purpose to satisfy their needs and solve their problems. Therefore, no matter what your offer is, your customer will have an expectation of how that product or service will be of use to them.
To address this, think about the Jobs-to-be-Done of your customers and how your products or services are helping them in getting their jobs done.
Presenting solutions to your customers’ problems and challenges makes you a compiling brand choice. So, once you uncover what are your customers’ jobs-to-be-done, make sure to stress the value your product is giving to them and how it accommodates their needs.
In addition to simply presenting in what way you are resolving your customers’ problems, a good idea is to present all the other ways that they benefit from your offering as well. For example, a couple visiting a restaurant will enjoy their amazing food and drinks. Also, they will experience a romantic atmosphere, soft music, and high-quality service.
6. How do you stand out from your competitors?
Think about all the ways you may be different from your competitors. Do you offer more affordable products and services? Are you an eco-friendly company or perhaps use only natural materials? Do you do any charity work or have discounted offers for those who may need it?
Put an emphasis on what makes you one-of-a-kind and why your customers may love it.
The thing that you should always keep in mind is that your value proposition helps your branding process and differentiates you from your competitors. It shows your uniqueness and explains why your products or services are beneficial to your customers.
To get the most out of this question you can make it a collaborative effort by asking your stakeholders, employees, and customers to take part. It can be interesting to see different viewpoints on the topic and gain an understanding of the ways your company is perceived by others.
Wrapping it up
After answering all of this questions you might find yourself ready to write an amazing value proposition. A good idea is to sort those answers according to the business pertinence and archetypal correspondence.
At Brandician we like to put the most relevant answers at the top of the list and start with a simple value proposition formula. This means forming a sentence: “We help (X) to do (Y) by using (Z)”. After that we help you make your brand more compelling by expanding this statement to explain in what way your brand is attractive, unique and trustworthy.