Online Value Proposition: What Is It and How to Develop One for Your Business?
24 June, 2021
The world of online value proposition explained
Organizations want to maximize the marketing ROI from online channels. In fact, businesses need a detailed and distinguishing online value proposition or OVP for their target audiences. If you think that bringing your existing brand promises and service propositions to the online world will be enough, then you are missing the point.
Your online value proposition should offer online-exclusive benefits. But most companies fail at creating value propositions specifically for their online audiences. For example, some businesses build brochureware sites that offer very little or no value to their online prospects. Sometimes, these websites only list their products for prospects to take them or leave them.
Having this copy-and-paste approach fails to leverage all the properties of online media, including interactivity, immediacy, in-depth content development and more. The fact is, when you are developing online content for your business, the sky is the limit.
When you successfully build your OVP, you are only halfway through. That means once you are finished creating your value proposition for online prospects, your e-marketers will come into the picture. The e-marketers will have to communicate your OVP across online and offline channels effectively. They will have to analyze how well your OVP resonates with your target audiences. Based on their analyses, the e-marketers will have to revise the online value proposition so that it aligns with the needs of your audiences.
A major part of developing propositions includes identifying a powerful message that will convey them to your audiences. To communicate your proposition accurately, internet marketers will have to use offline and online communication channels. Relying solely on offline channels to communicate your OVP will be ineffective if your messaging is common.
To sum up, OVP will reinforce your core brand proposition and strengthen your business’s credibility. The online value proposition should clearly communicate what your visitors will get from your online services that they will not get from offline models and other competitors.
What should you consider while creating your online value proposition?
You have to factor in many points before creating your online value proposition. Some of the common points include:
- Identifying a crystal-clear differentiator for your OVP
- Building an OVP that is different from offline value propositions
- Integrating service quality, cost and product innovation in your OVP
- Targeting marketing segments that will be appealed by the proposition the most
- Integrating proposition with Marcom effectively
- Communicating the proposition to site visitors
- Delivering the value proposition across different stages of the buying process
- Deciding the resources used for delivering the proposition
Online value proposition benefits
When you have a clear online value proposition, you will experience a wide array of benefits. Some of the top advantages of having OVPs are mentioned below.
- Distinguishing an e-commerce website from its competitors
- Providing a razor-sharp focus to marketing initiatives
- Enabling employees to understand the site’s purpose
- Using OVPs in word-of-mouth marketing and PRs
- Linking the online value proposition to individual product propositions
Another practical reason that encourages many businesses to focus on having OVPs is that customers expect you to have them. After all, prospects to a website will want to look for a graphic or tagline or something else that will explain what the site will offer to them.
Sometimes building an online value proposition is too challenging. And if you do not have any prior experience, you will need help from an expert who offers value proposition consultancy for many years. And when you are looking for an expert in creating OVPs for your business, your search will end with Mat Shore.
From answering questions on how to develop an online value proposition to explaining the nitty-gritty about propositions, Mat Shore has been there, done that.
Let Mat Shore help you create your online value proposition
Mat Shore has helped many global businesses in B2B and B2C segments to create propositions that help them explain the value they bring to the table. Mat Shore has built unique software to help you write value propositions for online and offline businesses.
Moreover, Mat Shore has also built the six-element method to help create a value proposition. This method has helped many entrepreneurs and business leaders create propositions that empower them to convey the value of their offerings.
So, if you want to transmit the value of your business offerings succinctly and impactfully, then having a value proposition—online or otherwise—will help. And to help you get started with creating your value proposition, Mat Shore is your guy.