How to Develop Your Value Proposition to Market Your Business on Facebook - dummies

How to Develop Your Value Proposition to Market Your Business on Facebook

By John Haydon

Why should customers buy what you’re offering? When you’re developing a Facebook marketing plan, the first thing you need to do is define your value proposition. How is your product or service different from the competition’s? Why should people buy your product instead of the competition’s?

You may have a different value proposition for each audience segment you target or for each product or service you offer. Your marketing plan should detail the ways in which you plan to communicate these values to your target audience.

To understand your value proposition, answer the following questions:

  • How are you different from your competitors? By knowing your competition and what separates your offering from theirs, you can begin to develop your product differential, a key ingredient that goes into your value proposition. Knowing what makes your product or service different from and better than your competitors’ helps you create messaging that gets people’s attention.

    What innovations make your offering stand out in people’s minds compared with the competition? Are these differences important to your customers or only to you? How can you articulate these differences in ways that make people tell their friends?

  • What value do you provide your stakeholders? Stakeholders are your customers, shareholders, employees, partners, and anyone else who is affected by your company. Understanding the value you provide is key to developing your messaging and communications strategy. By having a clear picture of what you want to accomplish with your marketing plan, you open a world of opportunities for your business.

    The key is communicating your plan to your stakeholders. When your employees know your brand messaging, they can pass that information on to your customers in the form of knowledge and better service. When your stakeholders know that you have a clear plan of action, they’re more comfortable with the direction in which you’re taking the company, which leads to greater support for your future ideas and plans.

  • What are your big-picture goals? Some goals are more obvious than others. They could include increasing company sales or driving more traffic to your website, both of which you can do when you clearly define and communicate your value proposition. Other goals aren’t as obvious, such as improving your company’s reputation or creating a more friendly face for the brand.

    Whatever your company’s goals, make sure that all your Facebook marketing activities align with these goals.