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How to Create a Value Proposition and Brand Position statement
- 1. Activate Your Marketing The secret to every profitable marketing strategy Presented by: George Giantsopoulos GIANT Marketing Solutions george@giantmarketingsolutions.ca www.giantmarketingsolutions.ca
- 2. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Presenter Background • Entrepreneur • Chief Marketing Guy & Founder at GMS – Build brands – Build WordPress websites – Build Mobile Apps • Co-founder QuickEnrollment Inc. in 2000 • Philanthropist and Advisory Board Member – Exela Ventures • Over 13 years of professional experience in marketing, branding, technology and BD
- 3. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Today’s Priorities 1. What is “value”? 2. What is a value proposition? 3. Revealing “The Secret” 4. Components of a value proposition 5. Tips on Pitching Your Business
- 4. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca GROUP EXERCISE WHAT IS “VALUE”? Think of a substantial recent purchase you made…what benefits did you value when you made that purchase?
- 5. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca What is value? Quality Price Service Sentiment VALUE
- 6. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca WHAT IS A VALUE PROPOSITION? What is the importance of a value proposition?
- 7. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Value Proposition A value proposition is a statement describing the unique benefits delivered by your business to solve a specific problem of your target customer
- 8. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Value Proposition www.keepvid.com
- 9. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca REVEALING “THE SECRET” OF A SUCCESSFUL MARKETING STRATEGY
- 10. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca
- 11. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Importance of Value Proposition • Foundation of your brand and all marketing communications • “Why us?” • Drive decisions – increase sales • Your business’ UPM
- 12. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca COMPONENTS OF A VALUE PROPOSITION
- 13. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Components of Value Proposition Target Market Customer Problem UPM Business Solution V
- 14. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca CUSTOMER PROBLEM AND SOLUTION
- 15. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Customer Problem & Solution • “I wish someone invented…” • “Wouldn’t it be great if there was a…to…” • Clearly define the problem – e.g. Gatorade • Be specific on the solution – Key attributes, features, benefits
- 16. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca UNIQUE POSITION IN THE MARKETPLACE (UPM) What is your competitive advantage?
- 17. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Identifying Your UPM Value 1 - Price Value 2 - SafetyValue 3 - ServiceValue 4 -Reliability Nissan Ford BMW HIGH LOW MED
- 18. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca TARGET MARKET
- 19. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Characteristics of a Target Market 1. Geographic 1. Local 2. Regional 2. Demographic 1. Age 2. Gender 3. Race 3. Psychographics 1. Interests 2. Lifestyle
- 20. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca CHARACTERISTICS OF A VALUE PROPOSITION STATEMENT
- 21. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Value Proposition Example Google Google is the largest search engine in the world that allows internet users to search through enormous amounts of information online and provides relevant and up-to-date content quickly and easily.
- 22. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca THE “PITCH”
- 23. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Tips to Pitching your Business 1. “It’s all you baby!” 2. Don’t forget your name 3. Identify the problem; a) build empathy 4. Accentuate the benefits 5. Call-to-action
- 24. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Learning Outcomes 1. Value – understand the value your product or service is providing 2. Brand – foundation of your brand 3. Marketing and Communication – basis of your marketing and communication to your target market
- 25. Presented by: George Giantsopoulos, Chief Marketing Guy www.giantmarketingsolutions.ca Questions and Download the Seminar http://www.giantmarketingsolutions.ca/ download-value-prop/ Presented by: George Giantsopoulos GIANT Marketing Solutions george@giantmarketingsolutions.ca www.giantmarketingsolutions.ca
- 26. “A cynic is a person who knows the price of everything and the value of nothing.” Oscar Wilde
Editor's Notes
- Whether you are starting out or already established, this is an important exercise and marketing principle
- -let’s put our “consumer”-hats on-e.g. I “valued” reliability when I purchased my Nissan Rogue
- Try and place the feedback from the audience in each of these categories to confirm this point (and diagram)-Oxford defines it as: worth, desirability, utility-When determining your value proposition, keep these componentsin mind.
- NOTMission StatementVision StatementCompany’s positioningon a single attributeIT IS…a solution to a problemtotal experience that the product promises supported, by the effectivedelivery of the product/service
- What do you think of his value prop?-no clarity-no value to customer (the girl)-What is the problem?
- CORE OF BRAND
- Foundation of your brand and MarComAnswer the question: “Why us?” – why should the consumer purchase from your company?To drive customer purchasing decisions4) Your business’ UPM Unique Position in the Marketplace; “But positioning is not what you do to a product. Positioning is what you do to the mind of the prospect.” -Al Ries and Jack Troute.g. -BMW is “the ultimate driving machine”; e.gTimex“Takes a licking and keeps on ticking” (durability)
- Determine what problem in the customer’s life are you attempting to solve (i.e. the customer’s “pain”);-Is the problem big enough?UPM-how are you different?
- CG
- Got an idea = Solution to a Customer Problem-typically how a business startse.g. Elliptical Exercise machine – “ouch, my knees hurt – low impact”e.g. Gatorade – is the problem “consumer is thirsty” – NO – “what to replenish and have more energy”Target Market is bound together by a consumer problemBusiness Solution-it’s the product or service
- CG
- Who are your CompetitorsWill only be able to ID them when you know your target marketPut on Customer Hat - researchWhat value are they looking at and holding in high regardTalk to customers, friends, associatesWhat is HIGH, that’s what we push in Value Statement(When defining the VALUE of your business, refer to the “Value Components”; where do they fit in?)
- GG
- KEY: Target Market is bound together by a consumer problem-Resist the temptation to be too general in the hopes of getting a larger slice of the market.Target CustomerAnswer the following questions: what does the customer feel? What does she see? What does she hear? What does she do? Say? What are her frustrations? Hopes? -Communication message is tailored and aimed at the target market
- ProblemSolutionUPMTarget MarketRelates specifically to your target marketDescribes the emotional and practical utility the product/service offersAppeals to the customer's strongest decision-making driversShould identify uniqueness in comparison to your competitors
- Value Prop – springboard for the elevator pitch as well
- 1-70% you and 30% content – in the end, the purchaser, investor buys into you2-Important they understand who you are – name of company and your name3-clearly state the problem in the marketplace – otherwise, why are you in business; build empathy4-Your power punch – the benefits NOT your features; describe how it satisfies the problem5-Do you want them to invest, to purchase, meeting60 seconds