With so many businesses vying for the same market, it has become imperative to differentiate yourself from the competition. Everyone’s services seem to be more or less the same. So, how can you set your agency apart and well enough for clients to notice with a business value proposition?
A business value proposition is one of the key ways to get their attention. The proposition is a promise by your agency to the clients, giving them a good reason why they should purchase your services. It talks about the benefits as well as how your services will resolve their issues.
Before acquiring your agency’s services, all clients will have one pertinent question in mind “am I getting value for money?” Therefore, adding value to your business should not be an afterthought! We have put together six compelling steps to develop your agency business value proposition:
Get to know your clients
The first rule of any education or migration agency CRM is to get to know your clients. You must know everything about them that is relevant to your agency business. Apart from demographics like age, gender, location, and habits, it is important to know other details like:
- What do they see as problem/s in your industry? Get them to list out at least five. For example, cultural barriers or the possibility of facing financial difficulties could be issues for many migrants and international students.
- Why do they think these issues exist? This will help you understand their mindset.
- What improvements would they like to see? Sometimes, the best solutions can come from the clients themselves.
- How will these improvements help them?
- What value do they see in these potential solutions?
Understand your agency services
Client surveys, to understand the target market, will give you enough hints to assess your own services. It will provide good ideas about what is working and what is lacking. Get your team together by laying a foundation of a good agency culture and find answers to these questions:
- Make a list of your current agency services, along with all their details, including the price.
- What is missing? Compare the agency services with your client surveys and find the missing links.
- How does your service/s solve the problem clients are facing?
- Does your service help them bridge the cultural gap or resolve financial difficulties?
- If it does, find verifiable data and statistics to back up your claim.
Know your competitors really well
The only way you can differentiate your services is by understanding what your competitors are doing. Invest your agency’s time and effort in substantial research on competitors, their target market, and services on offer.
- Who is their target market and is it the same as yours?
- What services are they offering?
- How do their services differ from other competitors in the industry?
- Compare the “difference” with what is currently lacking in the market. Does it solve the problem/s clients are facing?
- Is your agency service creating more value than what competitors are providing? If it does, you should be able to back it up with statistical data.
Create the business value proposition
Once you have sufficient data on the target market and your competitors’ services, it is time to pinpoint the issues and narrow them down. Take stock of all your research thus far and brainstorm ideas to create a business value proposition:
- The proposition statement should not be vague or confusing and must be ten words or less. To make it accurate and impactful, take help from a professional copywriter. It can also become your agency’s tagline.
- Your business value proposition should be able to answer these questions:
- How does my agency’s service solve the client’s problem?
- What benefits can the clients expect?
- Why should the client buy my service over the competitors?
- You can enhance your agency’s business value proposition by:
- Helping clients settle away from home
- Assisting with finding aids for clients’ financial woes and worries
- Assisting clients master the language and culture before going abroad
Test the value proposition
While it is great to come up with something that sounds good, but before you apply it in your branding strategy, ask yourself “are my messages believable?” A compelling message is important, but it must be believable and credible too.
- Can you defend the statement? You must be able to own your statement and explain it well, if anyone questions it.
- Does it have an emotional touch? Your prospects and clients have to be able to connect with your agency on an emotional level. It has to grab their attention as well as be memorable.
- Is it flexible enough for the future? Your branding and marketing strategies will not work if the value proposition limits your agency ambitions for growth and business expansion.
Spread the word in the right places
The business value proposition is a direct statement about the benefits and solutions you are offering to prospects and clients. It must be visible at all your agency touch-points. Now that you have chosen one, get the word out wisely and extensively!
- Tagline: You have the option of using the value statement as your agency’s tagline. Some companies choose not to, but we suggest you do! Having it right next to the agency name or logo makes it highly memorable.
- Website: The landing page of your agency website is one of your most prominent marketing tools online. Make sure the value statement appears as clearly as possible. With most visitors coming to the website, spreading the word will be much faster.
- Social Media: Apart from placing it next to your name or logo, social media allows for more creativity. You can create interesting adverts displaying your value statement and clarifying the message visually.
- Other Touch Points: Use the value statement in your physical spaces like the office or even on agency merchandise like mugs, coasters, and t-shirts. If you have a bigger budget, advertising in your neighborhood, malls, bus stops, and other public places will also help.
To create the most impactful business value proposition, ask yourself the same question as well “why should I buy this service?” A powerful statement said in just a few words, there is no better way to understand your business as well as engage the clients!