Branding Book: Your Value Proposition and Differentiators

     

Published: February 6, 2017

By now, you have begun the journey of defining your brand and digging into what your company stands for. In this post, we will help you with your value proposition and differentiators—two components of your branding book that serve to convince consumers and employees that your products and services are not only better than the rest, but also that they will add value and solve problems.

The Value Proposition

Where your brand promise is a single statement that sets expectations for clients, the value proposition is an expansion of this idea and provides the additional details that people need when choosing where to spend their money. Your value proposition will show how your products and services solve the problems that your consumers are facing and giving specific benefits that your customers will enjoy. 

When creating your value proposition, make sure you’re speaking directly to your target customer and keep these tips in mind:
  • Everyday Language. Marketers use words like “synergy,” and “collaboration,” but most people do not in everyday conversation. Because this is something that people will read, keep the language simple and concise.

  • Be Specific. Outline key features that your customers will appreciate and specific benefits they should look forward to enjoying.

  • Be Emotional. Along with rational, specific benefits, dig into the emotional aspects of the solutions you provide.

  • Not a Slogan. Do not try to create short, catchy sentences and phrases—save that for a different phase of the branding book. Instead, focus on creating a complete narrative.

  • Use Visual Aids. People respond to visual elements so show a video or an image to help make your point.
Differentiators

“Differentiators” is nothing but a fancy word for describing what sets you apart from the competition. Identifying your market strengths will help consumers choose you over everyone else without having to figure it out for themselves. The procedures you have in place to ensure that your team will meet and maintain these strengths helps build confidence both internally and externally.

Here are some examples of market strengths that may apply to your business:
  • Better Products or Services. Do you set the industry standards for quality?

  • Efficiency. Can you deliver faster and better than everyone else?

  • People. Are you known for having a service or sales team that makes real connections with customers?

  • Market Position. Are you #1 in your industry or in a sub-category of your industry? 

  • Technology. Are you an innovator in your industry who is consistently at the forefront of technology? 

  • Target Market. Do you specialize in a niche market that is typically underrepresented?

  • Brand Heritage. Have you been a member of the community for a recognizable amount of time?

  • Awards. What recognition has the industry or the community given to your company?

  • Methods. Do you prepare, sell, or deliver products and services in a way that is unique to your industry? For example, are you environmentally friendly or do you cut out intermediaries to cut costs
This list is not comprehensive; it only serves as an inspiration to get you thinking about all the different ways that you can stand out from the crowd. Having a plan in place to maintain these strength is also an important differentiator. Does your business plan include specific ways to make sure you stay on the cutting edge of technology? Does your onboarding procedures include ways to keep your team focused on the needs of your customers? Are your quality control or safety standards above and beyond the industry norms? Think about the ways you ensure--or would like to ensure--that these differences are met, and make sure they are included.

Getting to Know You

By now, you should feel like you have a deep, intricate knowledge of why you are doing business. It’s more than just turning a profit and earning a paycheck and there are several concrete ways that you are better than the competition. Well done!

Next, we’ll talk about your brand story and how you can leverage it to build relationships with your customers.

Next Post: Branding Book: Your Brand Story

Categories: Branding
Tags: Branding, Value Proposition, Differentiators
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