One of the critical things you need to get clear about as you devise your marketing strategy is your value proposition or your unique selling proposition. You may be run a great company with quality products, but what is your ‘secret sauce’ – the one thing you have that your competitors don’t? If you haven’t defined what this is, you need to do so before you start spending any more energy or money on marketing.
Articulating your value proposition
It can sometimes be difficult for a company to define its value proposition. You may know what makes you special, but you may not know how to define that in terms that will matter to your customers and prospects. You may also be reluctant to ‘blow your horn,’ come right out and say, “This is what makes me great…” It helps to ask someone outside of your company – like your marketing agency – to define your value proposition for you. Make it their responsibility to do some research into your offering in the context of your market, and come back and tell you what makes you amazing. Then, of course, they will go on to develop a public relations and digital marketing strategy to tell the rest of the world what they’ve just told you.
No matter what business you’re in, you are probably operating in a fairly competitive market. Defining your value proposition will help you to stand out from everyone else, as well as establishing the core for an effective marketing strategy.