Value proposition – a definition
A value proposition simply put, is a short piece of messaging that conveys a benefit to the user. They are typically found on landing pages such as the homepage and dedicated landing pages for marketing campaigns.
What a value proposition should include
The MECLABS Institute approach to value propositions
The MECLABS Institute conversion optimization heuristic states that there must be a clear value proposition in order for users to convert. According to the MECLABS Institute, a value proposition should be considered against 4 factors:
- Appeal (desire).
- Exclusivity (where else the offer can be found).
- Credibility (trustworthiness).
- Clarity (is it easy to understand what is being offered).
(Carry on reading to learn about appealing to your target audience, or check out more on the MECLABS Institute here.)
Credo’s approach to value propositions
At Credo, we acknowledge that not every company will be able to offer something exclusive. Rather than leave out this differentiating element altogether, we recommend highlighting key selling point/s. These may be similar to or slightly different from your competitors. Even if they are the same as your competitors, it’s important to state them in case your users start to believe you don’t offer them.
We also believe it is important that the user knows they are in the right place when they land on your site. This helps them feel reassured and encourages them to engage further. By this I mean that it is clear that the page is for people like them.
In terms of addressing a desire, we fully agree with the MCLABS Institute, a pain point or value-based motivator should be addressed.
In summary, these points can be refined to:
- Address who the target audience is.
- Describe a pain point motivator the audience has or address a positive motivator.
- Differentiate the offering from other similar options (this includes emphasising rarer benefits or a combination of different benefits).
Motivators (tapping into desire)
Motivation is another of the key components of the MECLABS Institute conversion optimization heuristic. In terms of appeal, this ties in to addressing and reinforcing the users’ motivations for being on your site. The MECLABS institute splits motivators into positive and negative motivators.
Negative motivators
Negative motivators can work well for grabbing attention and raising consciousness about something that needs to be done or change when users have no intention of change. The Trans Theoretical Model (or TTM) of behavioural change gives further insight into consciousness raising (increasing awareness and motivation level), although this is more from a wellbeing and lifestyle perspective, a similar principle can be applied.
‘How does one progress to the next stage of change when there is no consideration of recognizing a problem in the first place? Consciousness-raising therapy, in addition to changes in life circumstances, may help. When people enter a new stage of their life, they tend to critically evaluate their behaviors and consider if those behaviors are serving them and those around them in a positive way. Until they gain such insight, an individual remains in this pre-contemplation stage and will continue to engage in adverse behaviors. People in this stage have no intention of making a change in the next six months and often make comments like, “I don’t see a problem with what I’m doing, so there’s no reason to change anything.’
Nahrain Raihan; Mark Cogburn. Stages of Change Theory
Negative motivators can also work well when the product or service being offered is linked to risk aversion. By highlighting the issue, the importance of buying can be intensified. For example, life insurance and health insurance companies may use negative motivators to sell their services.
Positive motivators
Positive motivators are often easier to use as you don’t have to balance them out with a negative. These motivators are generally ones that users have a greater awareness of or a greater comfort level with (there is no risk of denial coming into play). Users with a positive motivator are more likely to be actively seeking a solution.
Examples of positive motivators could be selling the dream of a luxury spa escape or performing better at work.
Combining positive and negative motivators
It’s important to note than too much emphasis on negative motivators can reduce self-efficacy and can encourage the defence mechanism of denial which in turn reduces the likelihood that a user will take action. It is therefore very important to swiftly follow a negative motivator with a solution.
Although it isn’t necessary, you can also follow up a positive motivator with a negative. For example, a new weight loss product may emphasise feeling better in yourself within its value proposition. They could then follow this up by reminding users of all the ways they may have tried and failed at losing weight in the past before presenting their solution again.
Using subheadings and bullet points
As getting your point across (especially if you are combining positive and negatives) can take up a good amount of words, it’s unlikely you will be able to fit all of your points into your value proposition itself, which is where subheadings and bullet points come in handy.
Ideally, your value proposition should only be 5 words long, a tough challenge for sure! Subheadings allow you to expand on your value proposition to drive home solutions.
Unfortunately, something I see is subheadings being used to say the same thing as the value proposition. Just like with a value proposition, your aim is to keep subtitles clear and concise if you want people to read them.
Another mistake I see is users making their subtitle small. Visual hierarchy means that we pay attention to larger text over smaller text, so if your subheading is too small you are sending the message that it isn’t worth reading. Not what you want users to think!
Bullet points are another tool you can use to get your key messages above the fold (the part of the page that is visible when it loads). Bullet points are great for driving home reasons to buy that you may otherwise not have been able to convey. These can include differentiating factors. Bullet points can be even more effective if, instead of bullets, short pieces of text are associated with accompanying graphics as we process visual information faster than written information.
How to write a value proposition
If you feel a little daunted by the advice above, try not to worry. Writing a value proposition (and accompanying subtitle) can be a group effort. I recommend getting a small team together who know your brand well. If you are a sole trader, consider who else may be familiar with what you do and invite them along.
You are going to run a value proposition workshop where there are no wrong answers, so people feel free to write what they want. The idea is to get people thinking deeply about the target audience, not just what you offer. Here’s an idea of how you may want to run one:
- Explain what a value proposition should include (this article should help with that).
- Get your team to write down what they believe the identity of your company is. Get them to identify:
- Purpose
- Differentiating factor (if any)
- Voice
- Feedback from clients/customers
- Ask your team to think about your target audience and write down points related to:
- Awareness level
- Motivation level
- Daily life
- Trigger to act
- Pain point
- Value they are seeking
- Anxieties they have
- Get the team to silently ‘vote’ on what they believe are the most important points so far. Ther’s no limit to the number of votes.
- Ask your team to individually write three statements:
- One which addresses the target audience.
- One which empathises with a pain point or value point.
- One which provides a differentiator and/or solution.
- Get your team to silently vote on the statements they believe best fit the three different criteria. They should only vote once for each kind of statement.
- Now get your team to individually write a value proposition and subheading which addresses all 3 criteria.
- Bring these to another silent vote (they can only pick one).
- If there is a clear winner, test that value proposition by running an A/B test.
- If there is not a clear winner, open up a brief discussion to decide on a winner. If a winner can’t be determined, it may be that you want to test two or more variations, and this is OK.
Time limit each stage of your workshop, I recommend keeping it to an hour and a half maximum to make sure everyone stays engaged. You can run your workshop using post it notes and a wall, or if you’d rather, you can use a digital tool like a FigJam board as I did for a previous client.
Summary
In this article we’ve covered two approaches to writing a value proposition, tackled the tricky subject of value based and pain point based motivators, and delved into how you might run a workshop to craft your own value proposition.
If you want help running a value proposition workshop, reach out to us, we would be happy to facilitate an online session with your team.
Hi, I’m Charlotte. I love writing about user psychology and tips I’ve picked up from leading user research and CRO projects. Get in touch if you’d like to work with me to improve the user experience on your site or click here to learn more about your future CRO team.