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Archive for the ‘Value Proposition’ Category

Ecommerce Optimization in 8 Minutes: How to increase the performance of your category pages with a clear value proposition

November 15th, 2016

A clear value proposition is at the heart of any business. But in the ecommerce space, where commodities are much more common, it’s incredibly difficult to compete and also be clear about the value your product brings to the market.

In this eight-minute video, Flint McGlaughlin optimizes a page submitted by Ruby of Armstrong Ceiling Solutions and talks mainly about how this page, and pages like it across the industry, can benefit from a clear, compelling value proposition.

You might also like:

Homepage Optimization: 5 Marketing blind spots that inhibit conversion (and how you can correct them)

Powerful Value Propositions: How to Optimize this Critical Marketing Element – and Lift Your Results

Customer Value: The 4 essential levels of value propositions

Value Proposition Development Training Course

Value Proposition: Avoiding the curse of the ‘Why Bother Brand’

May 5th, 2016

Tidal. Yahoo Screen. “Speed 2: Cruise Control.” Your brand?

Some brands are so undifferentiated from other options, so derivative of competitors, the reaction they get from consumers is a shrug of the shoulders and an “Eh, why bother?”

Let me give you an example.

 

The “Why Bother Brand”

A burrito/Tex-Mex/Southwestern place recently opened in my neighborhood called Barberitos. I’d seen a few ads for it while flipping through local publications, and every time I did, I had the brief “Eh, why bother?” thought. After all, there were already enough perfectly fine burrito places, and this one didn’t seem any different. I always secretly thought about it as the perfect example of a “Why Bother Brand.” But just today, I got some data to back up my assertion …

Walker Ragland, Marketing Operations Specialist, MECLABS Institute (you may remember Walker from his social media test we wrote about in April), posted a Barberitos printout in our office and was boasting about just how good the food was there. That prompted Marketing Events Specialist Susan Warren to look it up on Yelp.

Out of 24 reviews, 15 compared Barberitos to a similar quick-serve restaurant, Moe’s Southwest Grill:

“It’s just like Moe’s Southwest Grill down to the T. The price is the same as Moe’s and so are all the food options (including the salsa bar).”

“Pretty much just seems like a dupe of Moe’s.”

“It’s very similar to Moe’s.”

“I thought it was an off brand Moe’s.”

Ah … so I wasn’t the only one who thought of Barberitos as a Why Bother Brand!

Read more…

Value Force: How to win on value proposition and not just price

April 11th, 2016

A recent question we received is a fairly common concern we hear from readers  customers only care about price — what do I do? So we’ve decided to answer it here on the MarketingExperiments Blog, since the answer might help you as well. And if you have a question you’d like answered on the blog, let us know.

Thanks for the outstanding workshop on value proposition. I agree that value propositions are the core to growth for any brand but the challenge I have is marketing products in a highly commoditized and fragmented category (olive oil).  Price is such a dominant element of the value proposition that it’s difficult to compete unless you’re competitive on price, which is a no-win strategy. How have you seen other brands effectively create and market a value proposition that did not rely strongly on price? ”

– Brian

 

First, let me start by defining terms, which might help. Price is not an element of the value proposition. Price is part of the cost force of the buying decision.

For every purchase customers make, they weigh the cost against the value. If the cost is too high, they will not purchase. So, essentially, a company that does not have a strong enough value force (Vf) must reduce the cost force (Cf) to get the sale.

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Value Focus: Which aspect(s) of your product should your marketing emphasize?

March 31st, 2016

As a MarketingExperiments blog reader, I can already assume a few things about you. You’re an evidence-based marketer. You are an effective communicator. You have an exceptional understanding of marketing. You are skilled at analyzing campaign effectiveness. And you have experience in a wide range of marketing disciplines.

But if you were pitching yourself at a job fair, and could emphasize only one of these elements about yourself, which would it be?

Savvy marketer that you are, I’m guessing you would first size up the company you’re applying to — ask questions of the recruiter, take a look at the booth and read some of the literature — before deciding what value to highlight when presenting yourself.

The way you approach marketing your products and services should be no different.

 

Don’t bury the lead

Almost every product or service has several ways it benefits customers. Your challenge is to determine the value focus — which element of value will you lead with in your marketing.

You may highlight more than one element of value as secondary benefits on your website, in your print ads and in your email marketing. However, there likely is a place within your marketing where you have to choose what the primary value focus should be — the headline of your print ad, the hero space on your homepage or, perhaps, the entirety of an email.

Let me give you an example from my own customer journey.

  Read more…