Appeal: Does your value proposition actually make customers say, “I want this product or offer”?

Tweet Startups can reveal some pretty enlightening information about what makes a successful value proposition. After all, unlike established companies with divisions and brands and patents and factories and distribution networks, the main asset many startups have is their value proposition (often communicated as an “elevator pitch”). CB Insights recently conducted a post-mortem of more than 100 failed startups to try to figure out what went wrong.    The top reason they failed — “No market need,” cited by 42%. To put that into marketing terms, their value proposition had no appeal. Appeal is one of the sub-elements of the patented value proposition heuristic developed by MECLABS Institute, parent research organization of MarketingExperiments. This thought tool has been created to help companies understand what elements are necessary for a forceful value proposition, and how to optimize those factors.   But what is appeal exactly? It is the unspoken desire of the customer — “I want this.” It is not, however, marketing. Or advertising. Or incentive. And here’s where the confusion often comes in.   You can’t advertise your way out of having no appeal Well, I guess it is possible. If you have enough money. If you can flood the market with your ads, and work sweetheart distribution deals with key stores and resellers, sure, you could be successful. But for most companies, advertising and marketing is not where appeal should originate. An incentive should not drive the appeal. The appeal should be intrinsic to the product, service, experience or offer presented…
Source: Marketing Experiments
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