How to use sales and analytics to create a great value proposition in marketing 💎
Imagine this: you need to purchase a new pair of shoes and you have two options. Both shoes have the same price and a similar look. So how do you decide between them?
While the shoes are essentially the same, there is one thing that sets them apart: their value proposition. One pair of shoes markets itself as locally made with 100% vegan leather. The other pair of shoes has an ergonomic design that will let you wear them all day without getting foot pain. Naturally, you’ll choose the pair of shoes that align with the value you’re looking for.
But it’s not only about paying more for quality. It’s about perceived value, too. According to Nielsen, more than 80% of product launches fail. At the root of the problem is either a disappointing product experience or a poorly communicated value proposition.
In this article, you’ll get a walkthrough of what a value proposition is and how you can create a good one for your business. You won’t need any fancy tools or in-depth marketing knowledge, either. You’ll simply grab your existing sales and analytics data and turn them into a value proposition machine.