KEY TERMS
Value Proposition
Canvas
Customer profile
Customer pains
TARGET AREAS
Delivery of value
Informational intent
Transactional intent
CONSULTING
Value review
SEO strategy audit
GTM Strategy
Marketing strategy
Let’s analyse the question of how to promote house construction service on a market. The market for this service starts from the phrase "affordable house” and falls down into 2 larger categories: “construct” and “buy”.
Let’s use the following Value Proposition canvas thereto.
Creating a value proposition effectively is finding a client. If done properly, it helps avoid waste and overburdens in the number of organisation’s processes as well as ensures repetitiveness and efficiency.
A prototypical, pressing and expensive issue (something that the organization will “own”)
Affordable house.
Specific challenge(s) a customer struggled with before coming to the organisation.
(Low) net disposable monthly income (after the mortgage, taxes, etc)
Circumstances that made a client feel pain or realize they have an issue.
What are the attributes of the “buying champions”?
How can we segment or group them using socio-economic criteria?
What differentiate them, e.g. strategic motion or lifecycle stage?
A need to find a land to construct.
What jobs do customers have to accomplish to resolve the issue?
What barriers do they confront when trying to do the jobs?
What are other options to relieve the pains? Alternatives, including doing nothing.
Two types of solutions are possible:
Let’s discuss comprehensive solutions.
One stop shop for affordable house construction.
A ready house (a turn-key).
Solving for affordable housing without stress for clients.
A combination of domain expertise as an agency (finding a land) and as a general contractor.
Let’s divide customers in three types:
The first client type recognizes the value of the possible solutions and can evaluate the promises by different sellers.
Where customer actions are bounded by intent to collect more information, which responds to the discovery stage.
The goal of an organization's marketing is to effectively demonstrate the different aspects of value to a customer.
Aspect of value:
The marketing product is Calculator. The document that contains a calculator might be a Landing page with a Lead Magnet. The leads come to this landing pages through channels / ways of:
The lead Magnet is a white paper for an affordable house construction that
The marketing product is Customers’ House Construction Roadmap, which is contained on a Landing page with a Lead Magnet. Lead generation channels:
The Lead Magnet is an ability to download the white paper as above (or a version of it).
The marketing product is Case study, discussing the actual customer case in the form of a website document, traditionally with a Lead Magnet, i.e. a short form by submitting which a client is able to download a whitepaper. Lead generation channels:
Where a customer searches for a solution by its proper name -- has a clear transactional intent -- a proper service page is necessary to accommodate this type of leads.
In this case the product is a Service page that contains a Lead Magnet: a free Eligibility Evaluation. This website’s document is targeted to attract Organic search when customers use the proper name search queries, e.g. “construct an affordable house”, etc. In addition to SEO, this page must be promoted on site internally, e.g. by means of advertising on other site’s pages.
Since, most often, customers use more than one search term to address the service, it is good to create a set of dictionary-like pages to discuss the same issue under the different names (if any). These documents on the site might contain links / adverts pointing to the principal service page as above.
Often a potential customer never heard of the solution and does not know it by name (the terms used). The goal of marketing here is to prepare and promote scenario-based content that addresses situations where recognition of the value is potentially evoked.
Sources of scenario-based content:
The way to arrive at a deep analysis of customer pains is an interview. Actual clients may suggest their own specific path to the buying stage which might be integrated into a story. The product is Guide or an extensive, long-form article that is strategic, problem focused educational writing. The Lead Magnet here might be the same white paper. Importantly, in view of customers' weak grasp of the issue, it is advised to set up a chain of email interaction to nurture them. The principal sources of leads for this are organic traffic (SEO) under the condition of useful content as well as Google Ads (retargeting).
The long list of search quotes must be created to address those that do not immediately suggest the ideal customer profile (ICP) or the “buying champion" type, but still signal an interest. This can be done by keyword research. The marketing product here is Information Article (blog). For example, How to construct a house without breaking your budget? Etc. The same lead magnet as above may work here as well.
Audience interest analysis may uncover the interest overlap between your customer types and those who are yet to be. Topics where such overlap exists may become a source of inspirational content for potential customers, e.g. ideas, what we have learned from our practice. The goal is to help clients realize they have an issue that can be relieved using the organization’s solution.
Biases can be Rational and Irrational, which also has its ground in the rational. A rationally biased customer tells: “the barriers that constrain a solution provider are insurmountable for them because…” and it’s grounded in the previous experience. Often, these biased customers have a deep knowledge or understanding of the market too. An irrationally biased customer tells the same but without feeling a need to provide arguments.
Working with biases and objections is generally hard. The working solution is to already integrate counter-arguments that address the customers' resilience to the solution in the value proposition itself.
The most fundamental attempt of prioritisation is the value proposition itself. It answers the question who are our buying champions and why.
Therefore, the ready to purchase (as we think) clients shall be addressed in the first place unless the cost of their acquisition is very high, which tells of the established market. In our case the organisation may start from creating the service pages addressing the most common terms or problems as we discussed in the Transactional intent section.
The number of clients with informational intent is higher, so the number of documents and marketing products for this segment of clients must be higher (just like the budget allocation). In most cases, this is where the most of untapped category potential lies.
The group of customers who don’t fully recognize the value of the solution (if at all) is hard to tackle. They shall be actively addressed once the above segments are covered, unless it is a new market and the solution is brand new.