If someone bought a product from your ecommerce, you have a value proposition.
The problem is – you don’t know which one.
Did people buy your product because of your brand or the product?
Why do people buy LV bags?
If the LV logo is not there, would they still buy it?
If LV sells fire distinguishes (which they had), would people buy it?
Every store has 2 sets of value propositions:
- Brand Value Proposition
- Product Value Proposition
When I review ecommerce one after the other, most store owners have no idea why their customers really buy.
Customers might conclude that they need a great handbag (Product VP), but they don’t need why they should buy from you (Brand VP).
Brand VP and Product VP must both be communicated clearly and strongly.
Why do customers buy your product?
No, I mean.
Why do customers really buy your product?
A strong Brand VP might propel people to buy from you even if the Product VP is weak, but you don’t want to solely rely on your brand.
Apple still has to innovate.
LV still has to design new styles.
When was the last time you saw a Nokia phone?
A brand has to constantly innovate.
They had a strong Brand VP, but they lost their Product VP.
A great, consistent Product VP creates a strong Brand VP.
People know to expect from your brand.
A startup company might have a weaker Brand VP because they’re unknown, but they often enter the market with truly innovating products that create a strong Product VP.
Where’s the balance?
Brands should constantly innovate to strengthen their VP, but they also have to find a way to communicate their VP (better messaging).
Strengthen and communicate and repeat.
That is the only way to lead and maintain your competitive advantage.