Aligning and Executing Your "Why" Value Proposition
A value proposition is a promise of value to be delivered. It's the primary reason a customer-client should buy from you, explains how your product solves customers' problems or improves their situation — pain point relevancy, ... tells the ideal customer why they should buy from you and not from your competition — unique differentiation.
A "Why" value proposition has three components:
The target buyer
The problem you solve
The reason you are the best company to solve it
Having a well-articulated, customer-focused "Why" value proposition is a must with developing alignment within your company and executing your brand strategy. There is only one valid definition of a company's business purpose: to create and serve a valued customer.
The process of creating and serving a valued customer is a process of communicating your vision and values to the right set of customers in the market and building a relationship of trust with them. Strategic messaging facilitates this communication. Customers never buy just a product, they evaluate its "value and utility" and buy your vision...your "Y" Factor.
What's Your Y-Factor and Brand Archetype
Your Y-Factor is your "Why" Value Proposition...it's your "brand archetype". It's why you exist as a company and sets you apart...it's your purpose-driven strategy that differentiates you from your competition.
Brand Archetypes cover the spectrum, from those that convey comfort to others, to those that create excitement. Identifying, aligning, and executing the right brand archetype for your company is essential. But first, you need to know your "Why" value proposition to understand your brand archetype role in creating a deep connection and relationship with your target market.
From a social psychological level as humans, we want to connect with people — not products or services — so, when a brand takes on a primary character archetype, people recognize it immediately—they "get" it. When people understand your brand — who you are — they understand your "Why" value proposition and the specific traits, drivers, and values that align with theirs. And this is branding and marketing in today's 2.0 digital economy. It's about building relationships with your customer-clients that matter...that makes a difference to them, you, and your company.