Beyond Product Differentiation

Value

It's not good enough to have product differentiation in terms of unique features, functions, or price. To catch the attention of prospects you'll need to communicate a value proposition that separates you from your competition. The best way to do that is with a well-crafted core marketing message.

A great marketing message will clearly demonstrate your competitive advantage and motivate prospects to take the action you want.

Creating a value proposition and message is easy if you know the differentiation rules and how to use them. Start by thinking about what customers can expect every time they do business with you. This can range from the little things that make it easy to do business with your company to the wonderful way your product solves problems better than your competitors. Expectations and consistency are at the heart of your brand marketing strategy and is what gives you product differentiation.

If you think about it, there are only a few things that will catch someone's attention:

  • Saving them money
  • Making them money
  • Saving them time
  • Solving their problem better than anyone else can

The only question is to what degree? That's where your uniqueness comes in. Keep in mind that if you can save your audience money or make them more money, others will probably also claim to that.

On top of that, try to include a bit of a WOW factor. In this case, WOW does not mean hype!

But no matter what you zero in on for your marketing message, one thing is for sure – not having a compelling value proposition is a recipe for failure.


Use This Messaging Formula To Drive More Sales

Albert Einstein, the great American Physicist and Nobel Prize winner once said:

"If you can't explain it simply, you don't understand it well enough."

Creating a value proposition to give you product differentiation needs to be high on your list of things to do. Once you have this, it needs to be stated as a simple, clear message to grab the attention of your prospects.

The key to standing out in your market is having a compelling position and message that anyone can instantly understand. But, how do you weave a value proposition into a statement that becomes your core marketing message? Well, there are rules to follow - differentiation rules - that will help you put it all together.

I developed a method to help people think through the process and build a value proposition statement that has become to be known as SUDS Messaging Formula. It's as easy as filling in the blanks, well almost.

The four elements of SUDS are:

  • Segment you target.
  • Unmet needs.
  • Differentiated Outcome your product or service provides.
  • Story that proves it's true - all focused on your ideal customer.

One other important point – just as it is very important to have all of these ingredients in your core message, they must be used in the correct order – more on this later.

Use the SUDS Messaging Formula correctly and you will be on your way to having a dynamite value proposition that hits on all cylinders. As you can see, it isn't just about product differentiation.

When you are finished creating a value proposition, customers should easily see the benefits of purchasing your product or service as much greater than the costs or any perceived risk. Done correctly, your value proposition tells your customer what your company will deliver to them and the results they can expect.


Set Your Company Apart From Others

Time to sit back and pat yourself on the back, right? NO!

Now you must prove how your company creates value – every day and in every way. A company's value should be obvious and radiate at every turn and from every employee. It's the reason why your customers buy from you instead of from your competitors. Remember, product differentiation plus uniqueness adds up to the value your target market is looking for.

Hint: great technology and products are nice, but not enough! You need more than product differentiation.

Strong value propositions are about impact. Turn it into the tune you sing every day. Everyone in your company should know it, and be prepared to say it without thinking about it. Your brand marketing strategy should consistently incorporate it into sales tactics and presentation material.


Now What?

The differentiation rules above are just the start of a great core message. Once you have it, you'll use it your written materials, on your website, even in the conversations you have. When creating a value proposition start by answering the 6 questions that you can link to in the article below. Then get a more complete understanding of the SUDS Messaging Formula – in the article below or consider enrolling in the FastPath to More Customers Program™.


Other Articles You Will Enjoy Reading:

6 Questions you need to answer to create a dazzling value proposition 
This checklist will help you get potential customers to say WOW!

The Value Proposition Formula Lays Out All The Elements a Great Message Must Have 
Use the SUDS Formula to achieve instant differentiation in your customer's mind.

See How The Value Proposition Formula Can Work For You 
An example of how to build a value proposition statement that clearly states why customers should buy from you.

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