Brick-and-mortar retailers overcome their weaknesses that resulted from online competition, and if not handled properly, this can lead to higher costs to the consumer.
Brick-and-mortar retailers have the biggest potential market. They own the store, the property, the inventory, the staff, and the technology. This is also the only category that is unable to benefit from online competition, but can if done right. Here you need good communication skills. Your job is to find and communicate value to people who want to purchase. Your customers are people – people who want to purchase. So you have to know what value you offer and how you can make value attractive to them.
Here is a typical value proposition:
The most common and effective way to offer a value proposition is by saying “I offer this, and… “
Here is an example of an effective value proposition:
We have built an impressive collection of pictures that will really make your customers happy. They are always welcomed in our store and the quality surpasses what you find online. For a limited time, customers can get free delivery on their house delivery order.
In this instance, the seller has communicated the value, and customers know that they will get better service if they purchase this item.
In many instances your value proposition will be the same as the product. Sometimes your value propositions will be different, depending on the product and your category. For instance, if you are selling jewelry for a red-carpet event, you will write value proposition as “Our quality jewelry is stunning on the celebrities.”
If you sell mattresses for a baby shower, your value proposition will be different and will need to be written differently.
If you do not write and communicate value propositions, your customer becomes a statistic – someone who has decided to purchase a product and now you must find ways to convert them to customers.
There is a lot of debate among retailers as to how important writing value propositions is, especially in the social-media era, where consumers have more access to more choices than just your product. They are increasingly becoming ‘copy cats’, and their content is competing with yours for the same prospects. What I do know is that writing value propositions can make the difference between having 10 clients and 100 clients.
The value proposition has a major impact on the number of customers you have. If your customer has no reason to think about your company and what you have to offer, than you will not have any reason to have your name in lights, and your competitors will gain all the benefits.
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