How much value is in your current eCommerce proposition? How long has it been since you took a long, hard look at your web store content? Are the words you have chosen drawing high traffic volume to your site? Are you increasing your conversions and growing your revenue effectively? It might be time to test your value proposition: the part about the problem your product solves, its benefits, and why it's better than the competitors. Not the tagline or the slogan, although those should be attention-grabbing too.
Can you hear me now? Good.
Big brands that have been around for ages have the luxury of brand loyalty and identity. But if you are a smaller company, a start-up, or really any company that wants to sell to more people, scrutinize your value proposition. It's where most companies fall short. It's the sentence of 20 words or less that sums up what you're offering: your promise that you are about to deliver real value, and the number one reason a buyer should place their trust in you. The statement normally has three parts. In fancy words: relevancy, quantified value, and unique differentiation. In plain words: this is how I'll solve your problem or improve your life, these are the benefits you'll get, and this is why we're better than everyone else selling similar stuff.
Let's start at the very beginning
Where do you place this miracle sentence? Right at the very beginning. It must be the first thing people see when they arrive at your web store, and it should make its presence felt through every other entry point into your site. These aren't just cool words to fill white space; they actually improve your customer lifetime value. Remember that actual human beings are on the other side of the screen who would like to read something they can understand. Companies pay copywriters large sums to "jargonize" their content, which mostly ensures customers don't understand a word of it. Don't be that company. There are enough of them already.
What did you just say?
The terminology you use to describe your services is usually not how the customers using them speak. So before you pack your value proposition with technical terms, test them. Language can make outsiders of people very quickly. Talk to your customers, find out what works for them, and try a few options. Clear, concise, and colloquial will come out on top. If you have to use many words, you're doing it wrong; it must be clearly understood in five seconds. You can also add a small value hook, like "customizable," "no set up fee," or "free shipping." A little gift snuggled into your proposition that adds even more value.
The whole shebang
You don't want to be everything to everyone. What's your specialty? What do you do really well? It can't be "everything." Get a target market. What's your "it" factor that makes you stand out? Narrow it down. Once you know what's special about what you do, who you serve, and what benefits you offer, all your other marketing efforts fall in line.
Heart to heart
The only way to find your appeal is to ask yourself these seven hard questions. Don't write down the first thing that pops into your head; really think about the answers. It's the core of your business.
- What is the ultimate goal of your web store?
- What services or products do you offer?
- Why did you start this business?
- What needs do you meet in the community?
- What trends are currently impacting your industry?
- Who is your ideal customer? Tell me about them.
- Why should your perfect customer buy from you and not your competitor? What makes you unique? (And don't say "because we're the best.")
Read what you wrote down. Does it sound amazing? Now do it again. For the last question, you're not looking at what your competition does right so you can copy it. You want to identify what they do wrong and fill the gap with your excellent solution. These questions should highlight at least five areas where you deliver value, and from that source you can build your proposition promise. If you have proof or evidence for your claims, add it in. And remember: no fluff. Keep it real, matter-of-fact, and human-friendly.
Did I do it right?
If you're not sure your value proposition is putting your best foot forward, it may be time for a health analysis of your eCommerce site. It can instantly alert you to what's working on your web store and what's driving customers straight into the arms of Amazon. Give SKUmagic a call so we can do a full check-up of your site and alert you to any potential red flags.
Anand Ayyar is a principal partner and co-founder at SKUmagic, a content analytics and monitoring platform with built-in PIM and SEO. SKUmagic addresses the growing eCommerce needs of SMB and F1000 clients with a fast, simple, affordable, turnkey, full-service cloud solution, and offers a free Content Health Report for any web store.