CVP (Customer Value Proposition)
What’s your CVP? Can you articulate what you do and why you do it better than anyone else in one sentence? It’s much harder than you think and a critical foundation marketing piece.
A CVP tells prospects why they should do business with you rather than your competitors, and makes the benefits of your products or services crystal clear from the outset.
If you’ve had a CVP for years but your company has evolved, then it’s time to review.
Ensuring it’s still relevant is key for any successful business. No company wants to be out of touch… cough, Mothercare, Toys ‘R’ Us and Blockbuster, anyone?
FREEBIE: As an up-to-date CVP is so important, we have given you the six-step process on the next page to follow yourself.
Alternatively, for a flat fee we will support you to craft a stunning, market-leading CVP, which is often the base for all your marketing activity and sales messages. You will also get many yummy sound bites from your clients to use across your social media channels – one client even ended up with an idea for a new service and made a sale directly from developing their CVP.
So how does the process work?
Pre –work: We’ll tell you who we believe are your competition.
- We need to look at least 6 competitors at what words are they using and how are they positioning themselves? Both Golddust and you will review – We will also give you the frame work as to what to answer and an example.
- You need to send a questionnaire out to your customers and suppliers. We can create the survey for you.
- We collate the feedback from the CVP email to customers and suppliers.
Step two: First session (2 hours max)
We work on which words we like and group them.
They are either Product – Business – Emotion – Benefit led
Then we look at the customer persona/s (demographics, behaviour patterns, motivations and goals) are these words going to resonate with all?
Step three: Prior to the second session
We both go away and come up with 5-10 CVPs – thinking about… What is the problem? What is in it for the client?
Step four: Second Session (2 hours max)
We thrash through what we have done and debate down to the last 3.
Step five: Testing
Go back to the valued customers and suppliers who responded.
Step six: Third and final mop up session (1 hour max)
Discussing outcomes and how to execute.
Not only will you get a stand out CVP (customer value proposition), at the end you will also have loads of stuff for your social media, an update plan for all elements of your marketing as a Golddust extra and you will have touched base with your customers, suppliers and prospects.
An EXTREMELY worthwhile exercise to do for any company. Call us today 0330 055 26 05.