Create a unique value proposition to drive consumer purchasing decisions

This article was originally published in Economic Daily

With the annual event “Double 11” in the e-commerce circle, whether it is Tmall, JD.com, or local e-commerce platform manufacturers such as PChome and Momo, they have achieved amazing sales results, highlighting the phenomenon that buying momentum has not decreased but increased in the post-epidemic era.

Looking back at the development of the e-commerce industry, it has now entered the era of artificial intelligence and data-driven. However, for major e-commerce platforms or merchants, it is not just a matter of forcing consumers to put various products into their shopping carts. There will be more stringent tests ahead!

According to foreign surveys, major e-commerce platforms including Amazon almost all have the same problem: up to 70% of the products put into the shopping cart will eventually be abandoned by users. There are many reasons why transactions cannot be completed. In addition to the possibility of forgetting to check out, consumers also like to compare prices and are used to looking for more favorable shopping deals.

For manufacturers, in addition to trying to attract consumers’ visits and favors, they also need to improve the conversion rate of shopping. At the same time, it is necessary to reduce the proportion of discarded products as much as possible.

Create a unique value proposition

So, what are some ways to reduce risk? In addition to striving to improve the quality, selling points and cost-effectiveness of products, trying to create a unique value proposition is also a feasible method.

According to the explanation in the book “The Age of Value Proposition”, value proposition refers to the benefits that customers can get from your company’s products and services; in addition, it sometimes also includes the attitude and views of your brand towards society.

Specifically, if you can use better packaging to show the unique value proposition of the product when consumers are about to check out, it will help to clearly emphasize the benefits and value.

Let’s take the common sales page as an example. In addition to using clear graphics and text to show the specifications and features of the product, if the unique value proposition can be placed near the call to action (for example, strengthening the value of the product next to the purchase link), it will be possible to further trigger or enhance consumers’ purchasing decisions.

Practical case sharing

For example, if your company is selling a new type of vacuum cleaner imported from abroad, in addition to listing the function, specifications and price of the product, if you can also show its lightweight and easy-to-carry characteristics, powerful cleaning suction, and even complete after-sales service, you will have the opportunity to impress the female-dominated target group (https://www.contenthacker.today/2019/03/off-the-clock.html).

In this era of information explosion, sometimes talking about price, features and specifications is not enough. It is recommended that you use a unique value proposition to impress customers! In this way, it can not only strengthen the rationality of consumers purchasing goods from your company, but also reduce the chance of goods being abandoned.

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