It’s not a Yes or No question. It’s a process whereby you ascertain your position in the market; whether you’re here to deepen customer’s confusion or to spare it and create real value.
It is easy to get stuck in the culture of shiny labels and manipulation. But you need to understand that people have spotted the marketing tricks that encourage them to purchase things that don’t respond to their actual needs. Thereby, many industries have lost people’s trust. Even when your company is worthy of it, unless you truly connect with people, you will be looked at like another misleading advert.
You connect with people based on the value you create with your offer. I mean, it’s all about what’s in it for your customers and why they should trust you. If they do trust you and make the first purchase, what would bring them back?
A simple answer to that is your CVP (customer value proposition). The elaborative one is the following.
Brand Story (Who are you?)
Before you bring yourself out to the market, you need to clearly identify the identity of your brand and what you stand for.
Essentially, your brand story starts when you recognize a certain need in the market. You then realize that you have the skill and resources to create a solution that can fit into a product or a service. After your market research, you find out that there are people who are willing to pay for it.
Still, what kind of personality would you like to project? One side of the answer belongs to you:
If you want to go about it strategically (much recommended), there are a bunch of methods you can use to find your IKIGAI (the Japanese concept of having a purpose in life and fulfillment). Miguel Serrano, one of our guest speakers at the second edition of the FoodeShow, suggested a strategy that adheres to this concept.
You need to find what you love deep within yourself (passion) and what you’re good at (profession) and see how can that project itself on your mission. Only then, your business will allow you to live your true purpose.
And the other side of it belongs to your customer.
Customer is the keyword
Things get frustrating but also exciting when it is time to classify the type of customer you’re targeting. It is frustrating because we realize we can’t be the all-in-one brand, at least not yet. It’s a hard pill to swallow, but once you do, you will see that having a focused vision on the relevant customer will benefit you massively and the people you’re here to serve. Instead of attracting people who will not buy from you eventually no matter how appealing your value proposition is, focus on those who will always walk down the aisle looking for you.
When you have a clear image of who your ideal customer is, and you profoundly understand their need, it will be easy for you to craft an offer that is relevant, appealing, and will establish a genuine connection with people.
What is your offer (CVP)?
Customer Value Proposition (CVP)
What is the value that is going to be delivered and communicated and that customers can expect if they buy into your offer? – Miguel Serrano
A value proposition is the offer and promises you make to the customers. Not a glossy claim on a billboard, it’s rather a clear description of product quality.
Value propositions that set us apart in the business world. And mainly, there are two of them:
- Deceptive statements: labels that speak of magical results while the real product quality is trash.
- Real business: clear product stories and brands that adopt a customer-based approach to their value propositions.
A successful CVP comes from a clear product story. Landing one is not a random task. You either request the help of specialists in the field that use a scientific-based approach to identify the CVP and the hierarchy of elements within it. If you can’t afford that, or you want to know other alternatives available, our guest speaker Miguel Serrano was very generous at breaking down his strategy into clear steps any brand can follow to settle on a precise CVP.
Coming next on our blog, stay tuned for that!