How Crafting A Value Proposition Increased Sales by 83%
Knowing why customers buy from you is the single most important piece of information you can have when crafting your marketing messages. Question is, what is a value proposition and how does it affect your ability to effectively market your golf lessons. Today, I’m going to tell you about an experiment I ran with my own value proposition and how I tested it to truly understand what my customers want.
Quick mention to Marketing Experiments, specifically Daniel Burstein and John Tackett for helping me research this topic, they have a massive library of articles you need to see. The techniques used below are based off of their multimillion dollar research projects.
Value propositions attempt to answer a fundamental question which is: If I’m your ideal customer, why would I buy from you rather than your competitors?
What does a value proposition look like? It could look something like this:
“London’s #1 Golf Club” or “The UK’s Best Golf Tuition”
Question is, how do we find our own value proposition? Here’s how I did it:
- Write down five to ten aspects of your product/services benefits, for me it was video analysis, learning on the course, developing a system of learning, etc
- Rate the benefits on a scale of 1 to 5 (five being highest) based on two factors: appeal (I want this) and exclusivity (I can only get it from you)
- Average the numbers together and pick the top two benefits
- Now, create evidentials that back up your claims. For instance I ended up with “learning on the course” and “video analysis” Now what I did to back up my claims of value is I averaged the number of strokes lost per student which was 3.2 along, with the videos I’ve done over 400 lessons with video and provided a link to my YouTube channel.
Here’s what I came up with:
(Because) “San Diego’s Only Golf Lessons With On The Course Instruction Combined With Video Analysis”
Now it’s extremely important to back any claims up with solid evidence. I researched teachers in my home town to see what they provided with their lessons. Some took you on the course, some did video but when I looked on their sites or called them, none combined the two. I also made that clear on my landing pages.
Now comes the test.
The last time I did an email blast for my on the course program, I sold eight sets of lessons which resulted in $1440 in sales for the week. My treatment using the value proposition netted 15 sets of lessons or $2700 in sales.
Question is, why did this work? The reason this worked is because I researched the perceived value I had with my lessons versus what actually sold. My video analysis and on course lessons sold extremely well in terms of private instruction. But I didn’t have the “only” factor or in other words something you could only get from me.
Once I combined the two, it was pure magic. When you think about your own value proposition, look for something you do that has appeal, exclusivity and that can be credible and clear. Do that and watch out!