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90% More Conversions With a Killer Value Proposition

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90% More Conversions With a Killer Value Proposition

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Have you identified your company’s value proposition? What methodology did you follow to come up with it? Does your value differentiate you enough amongst competitors?

Identifying your company’s value proposition is a struggle – and being able to translate it on the website through design and copy is what many companies find the most difficult. In this webinar we will be looking at how different companies achieved amazing results by first successfully identifying their value proposition and then taking it and applying it across their website in the form of elements and copy.

Have you identified your company’s value proposition? What methodology did you follow to come up with it? Does your value differentiate you enough amongst competitors?

Identifying your company’s value proposition is a struggle – and being able to translate it on the website through design and copy is what many companies find the most difficult. In this webinar we will be looking at how different companies achieved amazing results by first successfully identifying their value proposition and then taking it and applying it across their website in the form of elements and copy.

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90% More Conversions With a Killer Value Proposition

  1. 1. Increase Conversions with a Killer Value Proposition How Persuasive Messaging helped 4 Companies Increase Conversions up to 90%
  2. 2. Join the conversation @invesp #invespCRO
  3. 3. Our Founders Khalid Saleh CEO A recognized expert of marketing strategy, Khalid has been a frequent guest in key media outlets, including CNN, BBC, SKY, France 24, MSNBC, New York Times, National Public Radio, and more. He is an in-demand speaker who has presented at marketing conferences across the globe. Ayat Shukairy Co-founder, Managing Partner 400+ conversion optimization projects, She has worked with some of the world top brands such as, 3M, O’Reilly, the Special Olympics, Discovery, helping them increase online revenue by creating successful marketing campaigns.
  4. 4. Established in 1974, major educator, publisher, and distributer of technical books
  5. 5. Test Problems: 1. The pre-product page abandonment rate was high 2. Customer retention was low 3. Lack of community around partner content Category Page
  6. 6. • Green banner points to the value the site is offering • Text below is reiterating that value and explaining more about it The Control
  7. 7. By emphasizing the value proposition through design and content, conversions will increase.
  8. 8. • “The E-book Advantage” pointing to the value and service offered • Image reflects a person “on-the-go” • Removed text as banner is self- explanatory Variation 1
  9. 9. • “Take books wherever you go” message pointing to the advantages offered • Image reflects a person “on-the-go” • Removed text as banner is self- explanatory Variation 2
  10. 10. 21 Audience Question: Which design generated the most sales? 0 Side By Side Look
  11. 11. Increase in Website Conversion 26% The Winner 1
  12. 12. • Identifying the right value proposition is one of the most valuable activities marketers can benefit from when optimizing pages. • The value proposition must be translated into design and copy on your site for real gains. • The value proposition is not made up of multiple values and messages. It is a single message that expresses the unique value your company offers. • Incentives can be used to “support” the value proposition. Why is a Value Proposition so Important?
  13. 13. Competitive Landscape Analysis Understanding your competitors will help you develop a value proposition that distinguishes your company
  14. 14. Target Market/Persona Creation How can you create an effective value proposition without first understanding the needs and wants of your customers?
  15. 15. Value Proposition Creation
  16. 16. Audience Question: Which design generated the most sales? Pop Quiz 1 2
  17. 17. Increase in Website Conversion 17.04% The Winner 2
  18. 18. Value Proposition is the promise of value you deliver by defining the problem you solve and clarifying why you are better than the alternatives. A compelling value proposition appeals to the customer’s strongest decision-drivers. Consider this: • What are the different values your customers gain from doing business with your company? • Of the different values you offer your customers, where do you excel? What is the ONE area of value that distinguishes you? • There is a difference between the value proposition for your company and for your product. You must address both. Value Proposition Defined
  19. 19. 1. List of all aspects of your business/products/service: Price, Design, Growth, Savings, Support, Simplicity 2. Create 25 different statements based on the values you deliver to your customers 3. The more specific you are, the better. Think of the “secret sauce” that makes your company unique 1. What is the relevancy of that statement to your customer’s pain or gain? 2. What are the specific benefits (quantified value)? 3. What is the unique differentiation that you present? 4. Measure the statements against the Value Proposition Scale Crafting The Right Value Proposition
  20. 20. Crafting The Right Value Proposition Aspects of The Business/Products/Service Price Design Growth Savings Support Simplicity Value Proposition Evaluation Num. The Value Proposition Statement The Relevancy Of That Statement To The Specific Benefits (Quantified Value) The Presented Unique DifferentiationCustomer’s Pain Customer’s Gain 01 02 03 04
  21. 21. Value Proposition Scale Customer need/desire for what you offer (CD) How exceptional what you offer is (compared to competitors) (OE) High (CD) & Low (OE) Needs development High (OE) & Low (CD) Needs development Low (OE) & Low (CD) Must Improve High (OE) & High (CD) Success 0 1 2 3 4 5 0 1 2 3 4 5
  22. 22. Audience Question: Which design generated the most sales? Pop Quiz 1 2
  23. 23. Increase in Website Conversion 55.56% The Winner 1
  24. 24. • You can’t develop an effective value proposition without: really understanding and gauging your market needs + testing. • The two skills needed to leverage the power of a value proposition : • Identify an effective value proposition. • Express that value proposition throughout site. • The value proposition serves as a guide for decisions in any business strategy. • “The most effective advertising a company does is the way it conducts business.” Marketing Insights
  25. 25. 1. Measure it against the scale. 2. Test it on your site in many forms. 3. Another test: remove your site logo and slap your competitor name on your site – does it work? Do they offer the same value as you? Test Your Value Proposition
  26. 26. Audience Question: Which design generated the most sales? Pop Quiz 1 2
  27. 27. Increase in Website Conversion 90.67% The Winner 2
  28. 28. What to Do With Your Value Proposition Once you’ve crafted the perfect value proposition, you must apply it across the pages on your site. This can be done through: • Evidentials – like Benefits. • Brand stories – like testimonials. • Graphical elements.
  29. 29. Evidentials But this Not this,
  30. 30. Brand Stories But this Not this,
  31. 31. Graphical Elements But this Not this,
  32. 32. Test Problems: 1. A combination of a low product page effectiveness rate with a high average time spent on the page. 2. Too many competing product options were presented to the visitor. Bookstore: Product Detail Page
  33. 33. • Value proposition could use more clarification to enhance trust and confidence The Control
  34. 34. Enhancing value proposition through copy to match visitor expectations will lead to increased conversions.
  35. 35. • CTA in close proximity to product image. • Including wording about “Our Promise” which drilled the value proposition Variation 1
  36. 36. Increase in Website Conversion 18.67% The Winner
  37. 37. • Identifying the right value proposition is one of the most valuable activities marketers can benefit from when optimizing pages. • Value proposition is the promise of value you deliver by defining the problem you solve and clarifying why you are better than the alternatives. A compelling value proposition appeals to the customer’s strongest decision-drivers. • The more specific you are, the better. Think of the “secret sauce” that makes your company unique • “The most effective advertising a company does is the way it conducts business.” • The value proposition serves as a guide for decisions in any business strategy. Value Proposition Summary
  38. 38. More information Amazon.com
  39. 39. Looking to increase your conversions? The Conversion Framework™ brings a unique methodology to marketing optimization, generating repeatable and sustainable increase in conversion rates. 3,000+ Test plans , 400+ partners, 11 different countries • Learn more how we can work together: • Select “Partnership Opportunities to Increase Conversion Rates” on webinar survey • or email convert@invesp.com
  40. 40. Website :http://www.invesp.com/ E-mail :pii@invesp.com Twitter : @invesp Linkedin :invesp.com/linkedin Facebook :invesp.com/fb YouTube :invesp.com/youtube SlideShare :invesp.com/slideshare Thank you

Editor's Notes

  • Need better headline
    Need new design
  • cart page as opposed to the other pages in the “funnel”
    buyer momentum - the velocity of the person moving through the funnel motivation
  • folder 1
  • folder 1
  • folder 1
  • Edits: Competitive landscape
    Target Market
    Desire, Exclusivity, Credibility
  • folder 3/ The border should be fixed so that the outer line isn’t disappearing when we put it in presentation mode
  • I want this to be another graphic – again composing different messages based on the main areas within the company
    I need a table created that shows 
    The different statemetns listed, and on the other columns measuring the Benefits, Relevancy: pain and gain, Unique Differentiation of the statemetns created – so almost like an excel
  • folder 3
  • folder 3
  • folder 3
  • folder 3
  • folder 3
  • cart page as opposed to the other pages in the “funnel”
    buyer momentum - the velocity of the person moving through the funnel motivation
  • folder 1
  • folder 1
  • Either this or the other one
  • Please provide the links

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