Humans are value-rating machines. Every day, all day long, we size up different decisions by appraising the value proposition of that action.
Should I buy this product? Sure, that’s the obvious one. But also:
- Should I go to lunch with this person?
- Should I open this email?
- Should I even spend the time to ponder this decision?
When most marketers think about a value proposition, they’re thinking of the 10,000-foot-view—an overall company value proposition. This can make them feel powerless, especially in a large organization. The CEO controls the company value prop. What can you do?
A value proposition is a promise of value to be delivered. It’s the primary reason a prospect should buy from you.
It’s also the #1 thing that determines whether people will bother reading more about your product or hit the back button. On your site, your value proposition is the main thing you need to test—if you get it right, it will be a huge boost.
Many people in the marketing space are trying to figure out how to best present their value proposition. Which copy works best? Which design?
These are important questions because your value proposition is such a high impact area of your site – some would say the most important part.
So even though many people are working on and researching value proposition presentation, we thought there was still room to investigate, so we conducted a study through CXL Institute.
This study manipulates the value proposition of a financial service SaaS website, and uses eye-tracking and survey tools to test differences and effectiveness among the value prop. variations.
There are already a bazillion resources out there that spell out how to “craft the perfect value proposition.” In fact, the whole concept of “unique value propositions” (UVPs) is — at least at first glance — really Marketing 101 material.
So why keep talking about it? For one very good reason:
Most courses & books on value propositions FAIL to show you how to actually create value proposition through empirical, quantified research.
“How do I come up with a unique value proposition? What I sell isn’t unique.”
If you’re working on improving your business, you know there’s no shortage of information about why you need a unique value proposition.
You’ve probably even seen a handful of solid examples, but when you go to write your own, you hit a wall.
You’ve got too many competitors, they’re selling the same stuff, and it looks like all the good value propositions are taken.
What can you do? What should you differentiation strategy be?
Back in 2016, I read a book called Sprint by Jake Knapp, founder of Google Ventures. Knapp talks about focusing on only the essential activities for shipping new products and testing new ideas.
As advocated in the book, I felt the idea of using restraint would help me quickly execute on new ideas. And so, the concept for a digital PR service was born. The goal was simple: validate demand or move on.
There’s no denying that your homepage is vital to your site, especially if you’re a SaaS company. It’s likely one of your most visited pages, acting as a proverbial launch pad.
While you read about optimizing individual landing pages day in and day out, optimizing homepages is less frequently explored. Do the same old rules from 2010 still apply? Are people still visiting and using homepages they same way they were a decade ago?
Today I’m reviewing value propositions of several websites.
Perception isn’t always the same thing as reality, even when it comes to something as “objective” as your product’s value.
In fact, the perceived value of your product is fairly malleable. There are countless studies, as well as anecdotes, that support the notion that you can tweak small things to increase your product’s value perception.
“At MECLABS we’ve spent years asking and trying to answer a simple question: ‘Why do people say yes?’
When given a whole series of options, how do you get people to say ‘yes’ to your option over another?” explained Flint McGlaughlin, Managing Director and CEO of MECLABS.