Industry Expert Deep Dive Value Proposition How to turn that shiny, - - PowerPoint PPT Presentation

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Industry Expert Deep Dive Value Proposition How to turn that shiny, - - PowerPoint PPT Presentation

Oct 21, 2022 47 likes •591 views

Industry Expert Deep Dive Value Proposition How to turn that shiny, new Value Prop into a high-performing page Tony Doty Lauren Maki Senior Manager of Optimization Manager of Optimization MECLABS MECLABS Session Speaker Tony Doty Senior

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Value Proposition

How to turn that shiny, new Value Prop into a high-performing page

Industry Expert Deep Dive

Tony Doty Lauren Maki Senior Manager of Optimization Manager of Optimization MECLABS MECLABS

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Session Speaker

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Tony Doty Senior Manager of Optimization MECLABS

Tony leads the Optimization Team at MECLABS and is responsible for guiding Test Strategy and Design for many of MECLABS’ Research Partners. He has extensive experience managing and supporting optimization projects from experimental design through results interpretation for partners with varying levels of testing experience.

Black & White Headshot

@TheRealTonyDoty

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Session Speaker

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Lauren Maki Manager of Optimization MECLABS

Lauren Maki guides her colleagues in optimizing the online marketing efforts of MECLABS Research Partners through strategic problem solving and test planning. Prior to MECLABS, she served in account services, advertising consulting, business development and graphic design at

  • rganizations including the Golf Channel, Planet Hollywood

and Beloved Experiential.

@LMAKI

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MECLABS Optimization Team

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Who is the Optimization Team?

  • All team members started as Analysts on Project Teams
  • Moved into the strategy and testing side of MECLABS

What do we do?

  • Work directly with project teams
  • Guide the test design and strategy for MECLABS partnerships
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Value Proposition Deep Dive

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How to turn that shiny, new Value Prop into a high-performing page

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What have we heard?

“I know this page is not properly communicating

  • ur value proposition, but

I need some help getting the message out!” “The logical step that is missing is to show how this value proposition is used to craft marketing collateral.” “A single statement by itself is unlikely to provide sufficient detail for someone to buy

  • r take the first step in a sales process.”

“I need help implementing the value proposition strategies.”

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Now that I have a value proposition statement…

What do I do next?

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What we won’t cover…

In-depth testing of your value proposition

TEST IT!

This will indicate areas with high testing opportunity

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Primary – Why should I buy from you rather than your competitors? Prospect – Why should a specific prospect group buy from you rather than your competitors? Product – Why should I buy a specific product from you rather than your competitors’ products? Process – Why should I take a specific action on your site?

PRIMARY PROSPECT PROCESS PRODUCT

BUTTON

PRIMARY

Why should I buy from you rather than your competitors?

PROSPECT

Why should this prospect group buy from you rather than your competitors?

PRODUCT

Why should I buy this product from you rather than your competitors’ products?

PROCESS

Why should I take this action

  • n your site?
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We are answering…

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Why should [Prospect A] buy from you rather than any of your competitors?

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Who is the target audience? Where are they? What do you express? How do you express it?

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How To Express your Value Proposition

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Before you think about where you will express your statement and what you’re going to say, you need to answer…

  • 1. Who is the target audience?
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Before you think about where you will express your statement and what you’re going to say, you need to answer…

  • 1. Who is the target audience?

Who am I talking to?

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Identify the high-level prospect group for your statement For example, does it target:

  • IT Professionals?
  • College Students?
  • B2B Marketing Managers?
  • 1. Who is the target audience?
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Who is the target audience? Where are they? What do you express? How do you express it?

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How To Express your Value Proposition

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  • 2. Where is your target audience?

Now that you have identified your target audience…

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Go find them!

(Hint: They’re not always on your homepage or landing page)

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  • 2. Where is your target audience?

Identify the channels the prospect group is coming from

  • A targeted email campaign?
  • A PPC campaign?
  • Branded or non-branded?
  • Display ads?
  • Referral sites?
  • Social Media?

Visitors coming from different channels will have different motivations

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  • 2. Where is your target audience?

Identify the pages they visit

  • Landing pages?
  • Product pages?
  • Informational pages?
  • Checkout pages?

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Talk to us!

Who is your prospect? What channels are they coming from? Where in your site are they going?

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Who is the target audience? Where are they? What do you express? How do you express it?

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How To Express your Value Proposition

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  • 3. What do we express?

Infuse continuity

  • Communicate value through every step of your funnel

But don’t be repetitive

  • Different value points will be more relevant at different stages

in the funnel

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  • 3. What do we express?

Each step of your funnel serves a specific purpose in the buying cycle

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PPC Ad Product Page Features Page Shopping Cart Checkout Increasing Granularity

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  • 3. What do we express?

Each step of your funnel serves a specific purpose in the buying cycle Examples

  • Location: Homepage
  • Messaging: Briefly introduce your company and direct visitors

to the page they need

  • Location: PPC Ad / Display Ad
  • Messaging: Capture attention and elicit a click to get them on

a landing page.

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  • 3. What do we express?

Each step of your funnel serves a specific purpose in the buying cycle Examples

  • Location: Product page
  • Messaging: Give visitors enough product information to

complete the call to action

  • Location: Checkout
  • Messaging: Reduce friction and counteract anxiety while

providing process-level value to get users through the process

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  • 3. What do we express?

Choose one page at a time to focus on

  • Don’t overwhelm yourself by trying to optimize your entire

funnel at once Concentrate your messaging on your value proposition statement.

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TEST IT!

When [Prospect A] leaves this page, I want them to know X, Y, and Z

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  • 3. What do we express?

Choose one page at a time to focus on

  • Don’t overwhelm yourself by trying to optimize your entire

funnel at once Concentrate your messaging on your value proposition statement.

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TEST IT!

When [Prospect A] leaves this page, I want them to know X, Y, and Z

If everything is a priority, then nothing is a priority

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  • 3. What do we express?

Back up your claims with evidentials

  • Evidentials are “proof points” that add credibility

Evidentials incorporate:

  • Specification
  • Ex. Holds certifications in Cisco CCDE & CCIE
  • Quantification
  • Ex. We have analyzed over 5 million calls
  • Verification
  • Ex. 2013 JD Power Award for Best Customer Service

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Who is the target audience? Where are they? What do you express? How do you express it?

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How To Express your Value Proposition

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  • 4. How do we express it?

The value proposition statement is a guide not a template

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  • The expression is an interpretation of

the statement

  • Expression will change based on where

you are communicating it

  • The claims you emphasize
  • The tone you use
  • The amount of detail you go in to

A single statement by itself is unlikely to provide sufficient detail for someone to buy or take the first step in a sales process.

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  • 4. How do we express it?

The value proposition statement is a guide not a template

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  • The expression is an interpretation of

the statement

  • Expression will change based on where

you are communicating it

  • The claims you emphasize
  • The tone you use
  • The amount of detail you go in to

A single statement by itself is unlikely to provide sufficient detail for someone to buy or take the first step in a sales process.

Do not copy and paste your statement onto a page.

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  • 4. How do we express it?

Turn your company-focused statement into customer-focused communication

  • Your features do not matter if the customer does not

understand how it benefits them Example: Company-focused: Babies“R”Us has over 872 store locations and an online store. Customer-focused: Babies“R”Us offers convenient online and in-store shopping so friends and relatives can easily buy and send the right gift directly to the expectant parents.

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Talk to us!

Who wants to share one of their value claims with us? Let’s all work together to make it customer-focused.

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  • 4. How do we express it?

Express your value proposition with more than just copy

  • Congruence: every element on the page supports your value

proposition

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  • 4. How do we express it?

Express your value proposition with more than just copy

  • Congruence: every element on the page supports your value

proposition

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But your value proposition is not just copy!

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  • 4. How do we express it?

Express your value proposition with more than just copy

  • Congruence: every element on the page supports your value

proposition

  • Other elements include:
  • Imagery
  • Videos
  • Navigation
  • Slideshows or Product Tours
  • Lead gen form intro copy

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  • 4. How do we express it?

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Not this…

But this…

“Our new modular and manufactured homes are the cutting edge in housing; they're spacious, modern and contemporary.”

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  • 4. How do we express it?

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“Browse our huge electronics inventory and select from thousands of products”

Not This… But This…

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  • 4. How do we express it?

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Not This… But This…

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  • 4. How do we express it?

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Not This… But This…

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  • 4. How do we express it?

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Not This… But This…

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  • 4. How do we express it?

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Not This… But This…

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  • 4. How do we express it?

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Not This… But This…

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  • 4. How do we express it?

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Not This… But This…

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  • 4. How do we express it?

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Not This… But This…

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Now that we know what we’re supposed to do…

What does it look like?

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Who is the target audience? Where are they? What do you express? How do you express it?

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Expression Process Recap

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TEST IT! Test it. Keep testing it. And again…

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The rest of the process…

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Testing Value Proposition

Why do we test value propositions?

  • We are not the average consumer
  • You cannot assume what points of value will resonate most

with your customer

You will need more than one test!

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Testing Value Proposition

Why do we test value propositions?

  • We are not the average consumer
  • You cannot assume what points of value will resonate most

with your customer

You will need more than one test!

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You do not create your value proposition…

You discover it.

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Additional Resources

During the Summit:

Tomorrow 2:30 – 3:30

  • Need more help with expression? Live Lab Working Sessions
  • Need help with testing? Hoverboards and DeLoreans with

Adam Lapp and Benjamin Filip Today and Tomorrow

  • Any of the above? Sign up for MECLABS Coaching Clinics!

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Additional Resources

After the Summit:

  • Value Proposition Training Course
  • Blog Articles (Search Value Proposition)

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Thank You

Tony Doty Senior Manager of Optimization MECLABS tony.doty@meclabs.com Lauren Maki Manager of Optimization MECLABS lauren.maki@meclabs.com