Today, we’ll be looking at 5 quora answers on successful brands and their unique value proposition.
A value proposition tells prospects why they should do business with you rather than your competitors, and makes the benefits of your products or services crystal clear from the outset. Your business’s value proposition is arguably the most important element of your overall marketing messaging.
Unfortunately, many businesses either bury their value proposition in buzzwords, meaningless slogans, or don’t bother highlighting it on their site and in their marketing campaigns or they don’t figure out what it is at all!
We’ll go over these 5 quora answers on successful brands and their unique value proposition and what makes them so compelling. Lets dive into it.
Amazon is the fast food of retail.
- It’s so easy to buy. A few clicks in the app and you’re done. If you know exactly what you want you can order it in less than 30 seconds without even interrupting your day. Amazon isn’t the only online retailer but most don’t make it that easy.
- Saved payment options, free fastshipping means less hesitation and less likelihood of cart abandonment
- Back to that free shipping thing – you can have your order at your door often before you’ve even had a break in your schedule to get to the store
- Their marketing automation recommends addition products for cross-sell before you’ve even completed your purchase
- It’s usually risk free because they offer free returns with a free shipping label
- Tons of reviews to ease concerns of people trying to make big purchase decisions without a sales rep
- Their wide selection makes them the go-to for nearly everything
They take all of the barriers out of ordering online and make it a good experience. Now, where they can’t compete in many cases, is quality. They have a wide breadth of items but not necessarily depth in options (not in all categories anyway). But like fast food, sometimes there are sacrifices for convenience.
They’re able to do this because they’ve streamlined logistics and they operate at such a large scale. It’s probably not feasible for most businesses to operate this way but the basis for their success is not really a complex idea, it’s fairly basic but the execution is not so simple.
In the old days before the internet you needed to define your market — basically second-guessing what everyone is thinking and where they are going to go. Now, with the internet, you can “conjure” your market and see where it takes you. Instead of a value proposition or USP, you can run on a set of principles (building the world’s knowledge while being nice and respectful) instead of focusing on an audience to prop you up.
Quora is barely five years old. It was built by ex-Facebook employees who know how to ramp up a huge endeavor like Facebook. They learned a lot — no one expected Facebook to turn into the huge thing it is now. What Quora is dealing in right now is social crack — gathering people around meaningful questions and providing a safe place to discuss them. It is a very sticky site and everyone is its target market because its mission is to grow the world’s knowledge.
The single most important thing to do with something this large is to get a huge base of users and get their feedback while you’re doing it. That is what Quora is doing now. It is delivering content to several publishing outlets as well. Quora’s target market at the moment is content providers like you and I. Because of the diversity of users, Quora can partner with several different media outlets with wide-ranging disparities of “cultures,” or political skews.
1) Real-time, mobile photo friend-following. People use the service to keep track of what their friends are up-to. Think of it as Twitter for mobile photography. Because they’re the leader in the space, that means your friends are more likely to be there, which means you’ll want to be there, and so on and so on…The Network Effect.
2) Egocasting. Sure, taking mobile photos is fun, but taking mobile photos and knowing that people are watching what you’re broadcasting. Instagram is cool right now, but still new, so it gives people the opportunity to get in early and get popular.
3) When you say “photo” companies, I’m not really sure what you mean, but if you want to clarify, I’d be happy to offer some more thoughts. Tried to answer thus far primarily based on mobile competition.
When LinkedIn first was launched it was very much positioned more as a place online to showcase your experience in a type of resume format. People opened accounts, populated their profiles and then never came back.
Whilst there are over 500 million LinkedIn profiles the active members number is less than 25%. However every one of them has a personal brand and managing what is said and communicated about that personal brand is better handled by the person who knows it best – YOU.
As with any networking activity the value to you will come from the amount of time and effort you invest.
Be sure that this is the right platform for you and then set some goals on what you are expecting from it and how you plan to add value to others there too.
- Virtually a real-time news source
- Crowd sourced relevance
- Breadth of audience reach (global engagements, but often lacking depth— think of it like the antithesis of The Atlantic).
- Fertile grounds for trolls, bots, anons, and terrorists
- Concise statement of words, pictures, and ideas
- Facilitates the toppling of weaker (mostly Middle Eastern) governments
Twitter’s real value proposition is audience reach at lightening fast speeds. Other mediums travel fast to a broad, but Twitter seems to do it exceptionally well on a macro-social scale. Texts travel fast, but Tweets travel faster.
A company’s value proposition communicates the number one reason why a product or service is best suited for a customer segment. Therefore, it should always be displayed prominently on a company’s website and in other consumer touch points. It also must be intuitive, so that a customer can read or hear the value proposition and understand the delivered value without needing further explanation.
We hope you enjoyed reading this article.
If you’re finding it difficult to draft or define the value proposition for your business, book a session with us today and we will not only help you define it, we will also help you develop clear strategies that are tailored to your business needs to help increase your revenue by 300%.