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What is a value proposition?

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What is a value proposition

A value proposition is a value it promises to provide to its customers after purchase. Ultimately, this makes your product attractive to your ideal customer. A convincing value proposition meets three criteria:

  1. More specifically: what specific benefits will your client receive?
  2. It focuses on pain: how will your product solve a customer problem or improve your life?
  3. It is exclusive: in what way is it desirable and exclusive? How is your competitive advantage different from your competitors?

Do not confuse brand slogans, key phrases or even position statements with a value proposition, as these are two different things.

A valid offer must be essential when a visitor visits your site. Although you are often at the top of the home page, there are other common hotspots you should consider (for example, the landing page, category pages, blog posts, and product pages).

Even if you manage to create an effective value proposition, you will not receive any income if it is hidden in the dusty corner of your website or if it does not exist on pages with a high purchase intention.

4 tips for writing a well-designed value proposition

  1. Determine the correct solution for the problem.

The first step in writing a value proposition is to ensure that you understand your product as the “back of your hand”. Although this seems obvious, many entrepreneurs have no absolute insight into their product or their customers. It is important to determine the adequacy of the solution to the problem because the benefits of the value proposition that you propose must match the characteristics of the customer segment that you accept, observe and study in the b2b marketing strategies. To do this, you need to understand the pain and benefits of your customers and know how your product/service works as a source of income and pain medication. People don’t want a list of opportunities. You want to know how your product will improve your life. Tell them what is there for them. The best way to determine this is by entering a value proposition.

  1. Let’s continue with the basics.

Write your first value proposition in clear words for a 10-year-old child. If you get the chance, literally talk to the child and explain your idea. If they don’t understand, re-evaluate your value proposition. Industrial jargon is not required when writing a proposal with a single value. Always write clearly and accurately and simply share your ideas. Use this as a framework for your final offer. Only then should you start adding more complex terms and concepts to your value proposition. Ultimately, the customer must be able to read and understand your core value proposition within 5-10 seconds.

  1. 5 factors for the most important value proposition.

When writing a value proposition, you need to understand the main objectives of the value proposition. Value drivers are good tools to highlight all the basic elements of an attractive value proposition.

B – Advantage: What is an advantage for your customers?

O result: (reward): What are the net results for the company?

P – Perception: How should your customers, the public or other interested parties perceive you?

I have an idea: what does your product do for the customer?

T – Purpose: How can you separate different groups? How did you get to them?

  1. Beware of the curse of knowledge

A common problem that entrepreneurs face both in the context of their value proposition and when applying for investors is the curse of knowledge. This is not a question of understanding and clarity. When an entrepreneur is so deep in his ideas, it can be difficult to imagine what it would be like to hear about it for the first time. After working in a company for so long, they know all the details of the product/service so that it can be difficult to communicate with people they are not familiar with. Sometimes the most important details are not thought through! For example, last year I was a semi-finalist in a competition where the students had to completely redesign a new company and present this idea to hypothetical investors. My idea was a 3-in-1 service product. The only negative review my faction received was that we had to sell the product in sets rather than individually. This is a legitimate criticism, of course, and we didn’t think it important to find out whether it was a person or a regular purchase. After 9 months of working on the project, this seemed obvious to us, but simple supervision cost us the transition to the final phase of the competition. The best way to do this is to give it to friends and relatives before contacting the investor to make sure you are doing a good deal.

BUSINESS

Five Reasons to Bid on Branded Terms in PPC

Umar Nisar

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Five Reasons to Bid on Branded Terms in PPC

Branded terms in PPC can be very profitable, and many companies bid to all the keywords that mention their brands. However, some advertisers don’t target these terms and resist this strategy because they believe they would get that traffic anyway because of the organic listings. In this article, you can read five reasons why you must bid on branded terms in PPC.

1. Bidding On Branded Terms Helps You Dominate The Search Results Page

The organic results for keywords that mention your brand probably have your website and your social media profiles on Google’s first page. Google searches for the most relevant results, so you expect pages that send visitors to your website. However, it can include mentions from third-party websites or brands. While these mentions can be positive, they can get some a part of your traffic.

If you bid for branded terms, the visitors will see at least one extra option to visit your website or learn more about your business. Also, you show them where to click right away. These types of ads have high click-through rates because users want to learn about your products.

Another thing to consider is that you help your visitors avoid distractions in the search results page by showing your ads. The organic results can have anything from complaints to irrelevant topics that somehow got ranked under your branded terms. Decreasing the visibility of these pages can help you to get more traffic, leads, and customers.

Dominating your brand keywords means that they will show results that send users to your pages and social media profiles. At the same time, these third-party websites will get lower rankings or get ranked on the second and third page of Google.

2. You Control Your Message

Organic traffic is free and has many marketing benefits. However, it has one main limitation. You can’t just change the metadata of your pages and expect Google to update the listings instantly. Changes on your metadata can negatively affect your rankings, while they can take from a few days to a few weeks to get updated.

On the other hand, you can control every part of your Pay Per Click campaigns. If you want to share a specific message with the potential customers that search for your business on Google, you can create a new ad with your message.

The ads can include discounts, prices, new products, mentions of benefits, and many more that can’t be included in the organic results without affecting your rankings. Even if you don’t want to mention something special, you can add the right message for your business. This process can help your company grab the attention and get

more clicks on the search results page. If you focus only on the organic results, a part of your branded keywords’ traffic will get wasted.

3. Competitors Can Bid For Your Keywords

No rule says that your competitors will not bid for your branded terms. Google Ads allows them to target any keywords they want. If they have the option to get traffic and potential customers from you, they will do it.

So, if you bid for your branded terms, you prevent traffic loss on third-party websites and competitors. Another part that you can avoid is negativity. The competitors can put any message they want out there. They may try to create doubt or mention negatives of your business compared to them. It would be better if their ads appear below yours.

The good news is that you have an advantage compared to competitors that try to outbid you. Branded keywords will have better click-through rates and conversion rates for you because the users already want to learn more about your business. The competitors must set much higher bids to outbid you, so your presence alone can be enough to win that battle.

4. Brand Terms Are Cheap For You

If you want to find keywords that convert with high volume but low CPC, you must first check your branded keywords. Two big parts of PPC that affect your results are the relevancy of the ads with the keyword and the quality of your landing page. You already have both of them in this case.

When people search for something relevant to your brand and see an ad with your brand’s name and a link to your website, they will click it most of the time. The same applies to products and services that you may offer, the owners’ names, and anything related to your company. Google Ads uses the Quality Score to determine your rankings. It goes up when the ads get clicks and are relevant. If you target branded terms, the Quality Score will explode, improve your

rankings, and decrease your average CPC.

5. Get High-Quality Leads

The people who search branded terms on Google have many chances to convert into leads and buyers. They already know about your business or your products and try to get more information. They want to confirm that you have a trustworthy brand or find your products’ features in many cases.

When they visit your website, they can go directly to the pages that mention your products or just search for communication methods. These people can have questions about anything that prevents them from buying something.

They tend to know the type of product they want, and your company can offer it. With a few words, they are in a late stage of the buying journey. For this reason, they have high conversion rates, and many competitors will bid for these terms. A good offer or some extra details can be enough to convert them into buyers.

Conclusion

Branded terms have traffic with many potential customers. Some of them already want to visit your website or learn more about your products. You just need to have a presence on the search result page to make sure that you don’t lose traffic.

Usually, the ads on branded terms have a high click-through rate, high conversion rate, and boost the Quality Score for all the reasons that are explained in this post.

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BUSINESS

How the Coronavirus Impacts on Local Pawnshops for Increased Profit

Umar Nisar

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How the Coronavirus Impacts on Local Pawnshops for Increased Profit

Since the pandemic Coronavirus broke down, people’s lifestyles have been changed drastically. You are not the same person you used to be a year ago. A lot has changed, including your living and small details of your personality. Though most businesses fail to rise during this pandemic, the pawnshop business increases significantly with an enormous profit.

This article is all about how this pandemic Coronavirus opened the door for pawn dealers within a few months.

The Coronavirus horror hasn’t gone away till now; however, it’s been more than a year already. People are still looking for solutions to get rid of the losses they’ve encountered during this situation. Many of them have survived, and the rest is struggling with all of their hearts.

Pawnshops, in that case, are one of the top leading businesses that hold onto the situation. People are looking forward to going more to local pawnshops for buying and selling old stuff. Since everyone is struggling in this period, they want things at a cheap rate. 

The income sources are now blocked in most cases. Those who used to earn a lot now can barely bear daily expenses. This is why they’re moving on by selling their precious items at a pawnshop. Gold, diamond, silver, designer bags, watches, etc., are easily found at local Sydney Pawn Shop.

The thing is, the lockdown situation in almost every state or city has made people’s lives miserable. They couldn’t run the business on their own. The production was closed, and the entire economy collapsed. The only way to lead a life in that period has been selling old or unused items. And pawnshops have been there for the people.

Not only selling stuff, but people also have taken loans from pawn stores since they offer instant cash. If you don’t know much about pawnshops already, check out this site sydneypawnshop.com.au.

It has been found that people also buy electrical items, such as TV, gaming set, and other home entertaining products from a pawnshop. It is because the lockdown in the pandemic has made people stay at home with family. They have looked for ways to spend time in the best way they could make. So, buying these entertaining things at a cheap rate from a pawnshop couldn’t be a wiser option. 

Besides, local pawnshops are in a high rising situation for increased business because people wouldn’t go out too far for the Coronavirus. They would meet their requirements and daily living within their residence. So, the profits all went to the local stores. 

However, pawnshops offer a high-interest rate for loans. People look for buying and selling unused products here, especially those they don’t need for now. This pandemic Coronavirus has made our lives challenging, but at some point, we are becoming more organized to lead our lives. It is necessary to be realistic once in a while for a better living.

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BUSINESS

10 Web Design Statistics Every Business Should Know

Umar Nisar

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10 Web Design Statistics Every Business Should Know

Here are some interesting and carefully selected web design industry statistics.

1. Design has a 75% influence on a website’s credibility.

(Source: Web FX)

Web design stats for 2020 indicate that many customers are skeptical about a website with poor design. Website design is so robust that customers can conclude on a business’s legitimacy just by glancing over its website.

2. Websites that load slowly lead to a $2.6 billion loss in revenue every year.

(Source: Web FX)

Take it or leave it – people are generally impatient. According to website design industry stats for 2020, customers take just 15 seconds to decide about a purchase. This means that a slow-loading website will affect this decision negatively, thereby reducing the number of new customers.

3. Users spend an average of 5.94 seconds looking at a website’s main image.

(Source: SWEOR)

To make a lasting impression on a customer, a company’s website needs to have a beautiful, simple, yet well-detailed main image that communicates the brand effectively at just one glance. 

4. 88% of online consumers will not return to a website following a bad experience.

(Source: SWEOR)

An unattractive website, at first sight, is bad business. Website facts for 2020 show that even for well-designed websites, only a very few visitors are patient enough to give their content a chance.

5. 74% of users will likely return to mobile-friendly websites.

(Source: Web FX)

According to mobile-friendly website statistics, users prefer websites that are easily accessible on mobile devices. Reports show that as of April 2019, about 4.2 billion of the 4.57 billion active users of the internet use their mobiles. What’s more, 57% of internet users claim that they cannot recommend a business with a website that’s not mobile-friendly to anyone. 

6. On average, users spend 5.59 seconds on a website’s written content.

(Source: SWEOR)

This is just enough to convey a brand’s positive image. Web design facts for 2020 show that revealing content in a step-by-step approach is more effective than flooding people with content. A step-by-step approach means that the user can find more useful material by exploring more of the website if need be.

7. Pages with videos keep users on them for 88% longer.

(Source: Web FX)

Videos have been proven to get people’s attention better than images and texts. Animated videos are viral among both users and designers because of their attractiveness and liveliness. Overall, videos increase the engagement of customers with a website page and can influence purchasing decisions. 

8. 85% of shoppers say that color is a primary factor that affects their purchasing decisions.

(Source: Crazy Egg)

Reports go further to tell us that 66% of customers claim that they won’t buy products that do not come in their color of interest. People are naturally sentimental about colors. It is, therefore, essential that a website has the perfect colors to suit different images on a page. 

General Website Design Statistics

Representation is super important when discussing website design.

Here are the most important 2018 to 2020 website design facts you need to be aware of.

9. 48% of people cited a website’s design as the number one factor in deciding the credibility of a business.

(SourceBlue Corona)

That’s almost half of all users!

Your website will reflect the impact on your target audience. It is the image you project for all to see. People will know you through it and will judge your company by the quality of your website.

10. 8 out of 10 consumers would stop engaging with content that doesn’t display well on their device.

(SourceIronpaper)

Now that’s good news!

There are so many reasons to invest in your website. And now you have added one more in your basket of muffins – content formatting that looks good on every device will be highly appreciated by 80% of users.

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