I've been doing a lot of research and testing of new offers.
Most people think their offer is the product or service they offer.
An offer is so much more.
BTW, in my upcoming Biz Boosters Newsletter, I'll be going very deep into what makes a good offer.
In the meantime, I decided to ask ChatGPT what makes up a good offer.
I've done at least 50 ChatGPT queries about offers and one theme comes up almost every time.
You must have a clear value proposition.
The term value proposition feels dated to me, so I asked ChatGPT to explain what a clear value proposition means.
Here are the top five results.
A clear value proposition is a cornerstone of effective marketing and sales. Here are 10 characteristics that make a value proposition clear and compelling:
1. Customer-Centric: It starts with the customer's needs, problems, or desires, making the customer the hero of the narrative.
2. Specific Benefits: The value proposition should clearly outline specific benefits that the customer will receive, preferably quantifiable ones (e.g., "increase productivity by 30%").
3. Unique Differentiation: It should highlight what sets your product, service, or solution apart from the competition. Why should the customer choose you over others?
4. Immediate Understanding: It should be easily understandable within a few seconds. Avoid jargon, and aim for clarity.
5. Focused: Stick to one or two key points or benefits. Don't try to be all things to all people; a focused message is more likely to resonate.
Next, I asked which characteristic is most important and why it's THE most important.
While all characteristics of a clear value proposition are important, the most critical is arguably its "Customer-Centric" nature. Here's why:
1. Addresses Actual Needs: A customer-centric value proposition immediately appeals to the target audience's needs, problems, or desires. This creates a connection because you're speaking directly to what's most relevant to them.
2. Fosters Engagement: When you focus on the customer, you're more likely to engage them in a meaningful way, capturing their attention and interest from the get-go.
3. Enhances Relevance: A customer-centric message ensures that your offering is directly related to the wants and needs of the customer, making it intrinsically more relevant to them.
4. Facilitates Personalization: Knowing your customer well can lead to a more personalized value proposition, which generally outperforms generic messaging.
5. Long-term Loyalty: When customers feel understood and valued, they are more likely to engage with your brand not just once but repeatedly over time, which increases lifetime value.
6. Guides Further Messaging: Understanding your customer's needs helps guide not only your value proposition but also the rest of your sales and marketing strategies, making all of them more effective.
Every other element—be it specificity, uniqueness, or credibility—adds to the proposition, but if the message isn't centered around the customer's needs, then it's unlikely to be effective. A customer-centric focus ensures that you are not merely talking about your product's features, but rather translating those features into benefits that matter to the customer. This fosters a deeper connection and serves as the foundation upon which all other elements of a compelling value proposition are built.
This tells me that if you have a clear offer focused on the customer, that addresses actual needs, you have a winner.
Makes perfect sense to me.
Focus on the customer and create a solution that addresses the actual need of that customer and you have a winning offer.
This research took about 10 minutes and gave me so many insights that never crossed my mind.
I guess I'm not smarter than ChatGPT.
Are you using ChatGPT to expand your thinking?
Leave a comment and tell me how.
P.S. Next week I'm doing a live masterclass to help YOU create a winning offer.
Stay tuned for details...