At HealthTech Marketer, we’ll be devoting many articles to the expert creation of the value proposition. There are many reasons for this:
The North Star
Today’s HealthTech market is more complex and confusing than ever. To navigate it successfully, your marketing has to have a “North Star” for guidance. That North Star is your value proposition.
I’m here to report that, unfortunately, value props are getting butchered at an alarming rate. What’s especially distressing is how damaging a misguided value prop can be.
Why have value props become such a lost art? Because those who craft them are often missing three crucial personal attributes:
in the power of value propositions
needed to properly create them
needed to power the required discipline
You’ve gotta believe
I started my own HealthTech marketing agency after 12 years as a medical device rep because I believe in the transformative power of marketing, and—more specifically—value propositions.
I was amazed that the weakest companies with the weakest products could sometimes beat superior companies and products. What did they have that I didn’t have? The answer: superior value props. To be a great HealthTech marketer, you’ve gotta believe in their difference-making power. Unfortunately, this fundamental requirement is flagging. The energy and enthusiasm required to make them just aren’t always there. The magic power of persuasion emanates from a well-built value proposition. It’s no coincidence that the best, most senior marketers have a deep understanding of this power and worship at its altar.
You’ve gotta have discipline
Too many value propositions are like Thanksgiving dinners: They contain a little bit of everything and leave you feeling bloated—exactly the opposite of what a high-octane value proposition should do. An effective value prop should:
Getting there takes discipline. A proper value proposition process is an exercise in what NOT to say, ultimately revealing the one thing TO say.
You’ve gotta have passion
The best marketers in this space believe in the power of value props and are very disciplined in how they go about creating them. What drives these marketers to keep going until they hit gold?
Great marketers pursue the value proposition with dogged determination and messianic zeal. They don’t stop until they find the phrase that motivates their targets to act in their favor.
Where do you stand?
If you lack any of these personal qualities, it isn’t the end of the world. Improvement requires self-awareness. Grade yourself in these three areas and be mindful of them as you and your team embark on your next value proposition creation journey.