Let’s take a look at the Proposition Strategy. What is the Proposition Strategy for your website? How to create and apply a proposition strategy to your web assets? Assisting businesses to formulate and apply an optimized proposition strategy is part of our Business Startup Service.
What is Proposition Strategy?
Your proposition strategy is a plan used on your website to present your products with regard to the value of your products. Value Proposition defines the actual value your customers gain when getting products or services from your business. You can find a detailed description on Wikipedia.
The formula used to define the value proposition:
- Value = Benefits – Cost
We work together and define your proposition strategy by following these steps below and then apply it to your website.
How do we go about creating your proposition strategy?
It’s a fact that customers are always looking for the best value for money. We start by defining the key value point for each of your products. Why do people buy your products or use your services, is it for:
- Better Performance
- Saving Money
- Social Status
- Life Experience
The next step after defining key value points is to note how each of those values gets delivered to your potential clients. In other words, the way your online assets will present your products or services to your audience.
Building value into your proposition strategy.
A proposition strategy must be measurable. Measurable not only with respect to the value purchased but also measurable in performance. That means analyzing the related market for a reference to the product value. At the same time, we create the means on your website to measure each product or service.
Defining value in your proposition strategy.
Your website is the perfect tool for defining the value of your products or services. Some of these ways are:
- Concise descriptions and technical guides.
- Photo galleries to showcase value.
- Compare products to other products.
- Propose alternatives and point out differences.
- Display client references as proof of value.
Improving your sales performance is not as simple as showing your products on a website, and sharing it on social media. Due to technology, it goes deeper than that. These days, customers first research products online before buying. This is a relatively new phenomenon known as the Zero Moment of Truth.
So it goes without saying, that by not using the latest technologies, you are losing out on sales, as your opposition is.
Implementation of your proposition Strategy.
The cornerstone of every website is user experience. Your website must be easy to navigate and easily present the information visitors are looking for. Most visits to your website come from mobile devices, so your website has to be responsive and mobile-friendly.
Making an actionable promise and keeping to it, is what brings customers back. Giving the buyer what is expected adds value to your proposition. Making a promise can be done in many ways. Some examples come in the form of guarantees or providing your services in accordance with ISO or SABS standards.
The presentation makes or breaks the sale. People shop with their eyes, so for obvious reasons you want to use the highest quality photos, and colors that compliment your presentation. It is important to keep the different sizes of text and images in mind. The display sizes do change a lot between big computer screens and smaller mobile device displays.
Another way to add value will be to use supplements. Add in that little bit extra. Supplementing your proposition strategy is in most cases easy and will always give the customer a sense of reward. Some examples of supplementing your products or services are:
- Free Shipping.
- No Contracts.
- Free setup or installation.
- Customizable options.
Customer reviews are worth gold on the internet and your website. It is a way to build your credibility. Positive reviews help customers in the decision to support you. So does negative reviews, provide you with an opportunity to show that you do have the ability to rectify problems, and offer good after-sales service.
Testing and adjusting.
You have to know how your proposition strategy is performing, and to find that out you use testing. The test results provide you with valuable data. This data is then used to adjust your proposition strategy and help improve performance. When it comes to testing you do have a few options, here are some examples:
A/B testing is a situation where you compare two variations of the same product page, running in a live situation. You can then compare the performance of each to see which variant does better. And use that information to adjust your proposition strategy for better performance.
Analytics is a system that allows for careful analysis of data. Many different options exist. Samples of these applications include Google Analytics, and if you use WordPress you will be familiar with the WordPress stats and Jetpack. Google Analytics gives you the ability to customize the data you are collecting. That is handy as you can very accuratly track specific products or services and get specific visual data representations. Once again, very important for making adjustments and improvements to sales performance.
Proposition Strategy Conclusion.
As mentioned before, this post deals with the first strategy that ties in with four other strategies we use to compile your website and other parts of the business startup service. The sections to follow are: Acquisition Strategy, Conversion Strategy, Retention Strategy, Analytics Strategy.
Feel free to contact me at Reniersky@gmail.com if you are interested in getting a website, or if you are starting a business.