Your website is the hub of all online marketing activities, from PPC ads through SEO efforts to mobile marketing. All of these digital marketing efforts are meant to drive traffic back to your company's website. It's critical, therefore that you provide a strong, customer-driven value proposition, one tough enough to convince and convert even the most skeptical of buyers. Is a value proposition front and center on your company's homepage?
When your visitors arrive, what will they see? Will they know what you have to offer? What's in it for them? According to a recent study conducted by MarketingExperiments, 120 out of the 275 (30%) total business plans they reviewed, had no real value proposition. Only 10% were considered to have a strong, unique value proposition.
Explain the value
One of the fastest, most important levers a company can use to improve its overall site experience is to immediately explain two things: who your company is and what is your competitive advantage. A value proposition should clearly state why someone would make a purchase from your company. According to MarketingSherpa, it is the 1–2 sentence statement that clearly answers the question: Why should your ideal customer buy from you and not your competitors?
The value proposition is generally the first sentence that your visitor will scan on your site. With that one sentence, you should convey the credibility of your company and quantify exactly what sets you apart from all other companies online.
Because of this top billing, getting your value proposition right is critical. As MarketingSherpa's 2012 Website Optimization Report points out, companies who tested their value propositions were 15% more likely to produce ROI for their websites. That's a 15% bump in performance by changing a single sentence, which is a pretty compelling argument for value prop optimization.
Creating a value proposition
Start by defining your value prop, and circulate it internally. Does everyone in your company agree with your value proposition? Have you been clear in communicating your differentiator? Next, you should take your value proposition to the streets by testing it. By testing different value proposition approaches, you can find out what works best with statistical certainty before committing to one assumed positioning. There is no way to actually know for sure what resonates with your audience so you need to test it. One of the most effective platforms for testing various value propositions is through email marketing campaigns. Wherever you display it, test different phrasing, angles, and ideas to get deeper inside the mind of your customers.
Once you know what they find valuable, the better you can serve them.