It is time to update your value proposition
As a panelist on a recent podcast by executive search and transition management firm Association Strategies, “Who Stole My Playbook: 2021 Perspectives from Association Leaders,” Joel Albizo hit at the heart of what truly defines the value proposition your brand should stand for today. The CEO of the American Planning Association said you don’t chase money; you chase value by solving problems nobody else has solved and doing it efficiently and effectively. The money follows that.
In an economic landscape still trying to decipher the ins and outs of working amid a pandemic, perhaps no market is more keen on fine tuning its value proposition than health and wellness. Facing a variety of short- and long-term implications resulting from what the pandemic did to our collective psyches, fulfilling the promises may be more complicated than anyone is willing to admit. Even so, continuing to reshape, retool and revisit your brand’s value proposition can help it move forward. Simply put, if your value proposition does not separate you from the pack, people will have no reason to work with you over somebody else.
Jackie Berg says you build that separation through trust. As co-founder and CMO of CBD Marketing Hub l Cannabis Marketing-Hub, she continues to be on the forefront of new product development, marketing and sales—all critical tenets in the foundation of value proposition management. “Trust is timeless and will always retain its value. We encourage and build it within our own organization, among our clients and within this industry.”
As a market specialist and cannabis industry thought leader, Berg should know. Over the past 35-plus years, she has spearheaded campaigns for clients such as Procter & Gamble, McDonald’s Wal-Mart, Blue Cross Blue Shield, the Michigan Department of Health and Human Services, among others. She also headed sales, operations and HR divisions of the Southland Corporation, the parent company of 7-Eleven Stores. One of the biggest things she has noticed in today’s marketplace has been the incredible rise of digital fatigue. Nearly one third of all consumers report digital burnout associated with handling digital devices, subscriptions, etc.
“There are less crowded lanes and even a few new routes that remain relatively unexplored today. The brands that win tomorrow’s audience will begin to overtake competitors within the next two to five years.”
— Jackie Berg, Co-founder/CMO, CBD Marketing Hub l Cannabis Marketing-Hub
That fatigue not only can impact your value proposition, but also spill over to consumption, signaling the need for digital advertisers to enhance user experience. “Consumers are increasingly demanding a more tailored user experience that an artfully crafted landing page delivers versus the ‘forced’ self-navigation that more generic campaigns employ,” Berg says. “Fewer consumers have the patience to wade through a brand’s generic home page to locate the CBD or cannabis gummies deal, let alone click through three additional links to get to lab reports. Turnkey experiences are a must, according to our internal campaign performance trends which consistently evidence the fact that brand campaigns with tailored landing pages outperform more generic efforts time after time.”
A recent Ernst & Young report shows that 47% of respondents are seeking a time-out from smartphones and other internet-enabled devices. Translation: Consumers are more discerning about the content they consume and how much time they spend consuming it. Berg believes this shift will require health and wellness brands to create more engaging marketing tactics, as well as be far more strategic in regard to their choice of marketing and advertising platforms.
To further define her assumption, CBD Marketing Hub compiled compelling evidence revealing that localized, news-oriented native content and digital ad campaigns outperform other media placements. Why? The campaigns meet consumer musts: Relevance, timelessness and resourcefulness.
“Too many brands are focused on the same consumer demo,” Berg says. “Coupled with look-alike messaging, the market now has too many advertisers chasing far too few consumer demographic groups. A product that’s marketed to everyone isn’t selling anyone these days. There are less crowded lanes and even a few new routes that remain relatively unexplored today. The brands that win tomorrow’s audience will begin to overtake competitors within the next two to five years.”
Valuing Your Audience
There was a time when Eli Mazer admittedly tried to get everyone and anyone into Auburn Fitness Solutions. Strategically located in the college town that is home to Auburn University, the fitness center has always prided itself on its approach to the health and wellness game. The value proposition, as Mazer, owner and operator, says, was always 100% about quality of life. Building your best functional, healthy body. Promoting overall wellness practices. Reducing preventable heart disease, obesity, high cholesterol or anything else that might prevent his clients from living their lives.
Over time, and you can add the pandemic into the mix, Mazer realized that the health and wellness market is one of continual change—disruptions, if you will, that cause a brand to continually re-evaluate its positioning. “I have always understood that fitness is an emotional sale with a very short window of opportunity, so nothing has really changed for me in terms of my marketing strategy. If anything has changed, it’s that I am not trying to get everyone and their mother in here. I have so many leads now that I can actually pick and choose who I want to spend my time and energy on.”
“I have always understood that fitness is an emotional sale with a very short window of opportunity. If anything has changed, it’s that I am not trying to get everyone and their mother in here.”
— Eli Mazer, Owner/Operator, Auburn Fitness Solutions
Operating within a more focused business strategy, Mazer has been able to refine Auburn Fitness’ internal values and value proposition. “My internal values are the same as core values. Accountability. Honesty. Excellence. Teamwork. Flexibility. I think the value that has helped us survive the pandemic is in that last one—flexibility. We had to adapt and be flexible to the state of the world, offering virtual training and even outdoor training. We had to say goodbye to the days of expecting that having a brick and mortar business was enough to keep people coming back.”
Auburn Fitness found the vibe that works and ran with it. For example, prospective buyers seem to be much pickier and commitment averse than ever before, especially since the start of the pandemic. Gone are the days when it was able to get one- to two- year commitments from new clients off the rip. Now it is lucky to secure a six-month commitment. “That’s just the nature of the world right now. Boutique clubs versus big box gyms seem to have a competitive advantage in direct response marketing, especially in a small town.”
In times of continued change and adaptability, the ability for health and wellness brands to keep differentiation intact is critical in an increasingly noisy marketspace. Constant innovation and improvement should remain the top items on every to-do list. Followed by building consumer awareness and conversions contingent upon your ability to get—and stay—ahead of the tsunami of competitive messaging that exists in today’s digital marketplace.