subject: How powerful is your OVP Online Value Proposition (OVP?) [print this page] How powerful is your OVP Online Value Proposition (OVP?)
What is a customer value proposition?
Development of a clear customer value proposition is now an integral part of customer-centric marketing, customer-relationship management and branding.
A conventional view of the value proposition is:
"an offer defined in terms of the target customers, the benefits offered to these customers, and the price charged relative to the competition."
For any company it's also important to have an OVP. So What is an online value proposition?
Your OVP should include:
Identification of a clear differentiation of the online proposition compared to the companies conventional offline proposition, i.e. to extend the offline proposition.
Identification of a clear differentiation of the online proposition from competitors based on cost, product innovation or service quality.
Target market segment(s) that the proposition will appeal to.
How the proposition will be communicated to site visitors and in all marketing communications. Developing a strap line can help this; we will look at some examples shortly.
How the proposition will be delivered across different parts of the buying process, i.e. it should not just refer to the product itself, but also give an indication of the pre-sales and post-sales support that can be provided by the online service.
How the proposition will be delivered and supported by resources is the proposition genuine? Will resources be internal or external?
To summarise, the Online Value Proposition' or OVP should:
Reinforces core brand proposition and credibility, but also shows:
What can a visitor get from your online services that
They can't get from you offline?
They can't get from competitors?
You should then communicate this forcefully, both online and off. Here are some examples of online value proposition messaging:
At its simplest, the OVP can be communicated with a simple tag line which is prominent on the home page and in offline communications accompanying the URL. The tagline should simply explain the essence of what is provided by a brand online. Some of the best taglines have been developed by the startup companies, for example:
Compare. Buy. Save' from Kelkoo (www.kelkoo.com)
Earth's biggest selection' from Amazon (www.amazon.com)
Search the largest inventory of cars and trucks on the Internet. More than 1.5 million listings, updated daily' from Autotrader (www.autotrader.com)
Of course, graphics, features and benefits lists and the content itself all can help communicate the OVP.
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