Rick Steves says a good guide book is a $20 investment to ensure a great $3,000 vacation. His comment is the kind of crisp value proposition companies should emulate.
Many companies settle for value propositions that are inward looking and self-serving. A value proposition should say how your product or service will solve problems for or deliver benefits to your customers.
Junk the jargon and put aside the taglines. Use plain language to convey your value to customers in less than five seconds. Make your brand a living, breathing example of your value proposition.
Steves has earned a reputation as a well-informed and informative travel guide. His guide books are chock-full of helpful tips from how to pack to where to go.
Steves hosts a travel show on PBS that reinforces the tips found in his guide books. He just aired a three-part series consisting of practical advice for European travelers that included smart ways to travel, how to protect your valuables from pickpockets and savvy moves to avoid long lines at major venues.
Steves doesn’t brag about his own guide books. He doesn’t have to. Users tell fellow travelers about them, including Steves’ advice to rip up his books so you carry only what you need during day trips. Those word-of-mouth recommendations are worth a lot more than advertising or self-promotion.
Implicit in Steves’ simply rendered value proposition is that the $20 you spend for his guide book will save you a lot more when on the road. Sometimes he recommends spending money – for an upgraded train ticket or an all-city venue pass – that enhances a trip and saves valuable time. Grabbing some shuteye on a train ride or bypassing a ridiculously long line can mean seeing another sight or spending more time in the place you’ve always dreamed of seeing.
The Rick Steves brand is all about useful information that he has personally vetted. When you buy his guide book, you know the advice he dispenses is based on his own experiences. The combination of his TV show, guide books, guest appearances and audio tapes makes Steves your trusted travel companion. His advice is golden, whether it’s what shoes to pack, how much underwear to bring or where to store your suitcase on daytrips. You might even be inclined to buy the suitcase he designed for ease of travel.
A solid value proposition, as Steves illustrates, should provide a concrete result for a customer expressed in a short statement. Branding, which features your differentiation from competitors, is separate from the value proposition. If you try to conflate the two, chances are you will inject hype and undercut the authenticity of the value proposition.
Follow Steves’ lead in describing the value of his guide book to customers and living your brand so customers choose your book instead of a competitor’s.