As the Internet of Things (IoT) market grows in sophistication, it’s harder than ever for companies to stand out above all the noise. That’s why having a killer value proposition is key to successful IoT positioning and messaging, and—of course—an important part of IoT content marketing, public relations and social media strategies. But what exactly is a value proposition, and what makes it killer?
Calysto defines a value proposition as “The overarching promise of a company, its products and services to its audience(s).” That’s a lot to process as your company looks to stake its claim in the IoT. But trust us, it’s one of the most valuable exercises you’ll undertake as you set your marketing strategy for 2020 and beyond.
What makes a value proposition so important? It all boils down to the first word, value, or, more specifically, the value your company brings to its intended audience(s), and the mission and purpose it is serving. It’s designed to be constructed in a way that separates your company from its competitors in your category. It’s meant to demonstrate how you solve the most pressing challenges your customers face.
Is your value to customers crystal clear? Possibly, but maybe not. There’s no place in a value proposition for ambiguity—every word counts. Value propositions generally aren’t nailed down in one working session. It takes a lot of effort—and wordsmithing—to really hammer out one that works for your company. The sweat equity you put in, however, becomes the drumbeat that the entire company marches to, in both internal and external conversations. And it guides the rest of your marketing and sales efforts, too.
Your value proposition might also be a little “stale,” so it’s important to take a look frequently to see if any company or industry events warrant tweaks to the language. Events might include acquisitions, entering new vertical or geographic markets, new products or product lines, and other “growth” metrics. At the very least, your marketing team should review your IoT value proposition once a quarter to determine if any changes need to be made, and then determine how those changes impact the rest of your marketing efforts.
Incorporating Vertical Markets
You may find that as your company enters new vertical markets, you need a distinct value proposition for that market. The reason: Challenges and pain points vary across industries, so your value proposition for each market will also vary. You may be selling the same products to these companies, but the needs of the healthcare industry are vastly different from transportation and manufacturing, and those differences should be reflected in your value proposition to each.
Making It Killer
We can’t give away all of our secrets, but there are some common themes that make up a killer value proposition.
Want to know more about creating a strong value proposition as part of your company’s overall marketing and public relations efforts? Calysto can help. Download our new IoT in 2020 eBook, or contact Marissa Evans, firstname.lastname@example.org for more details.
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