
Updated on: 09-11-2021 by WEB-ROI
A value proposition is a statement that answer’s the “why” someone should do business with you. It should convince a potential customer why your service or product will be better for them compared to your competitors. You know why your company is great, but do your customers know what sets your brand apart from the others?
Having a good value proposition will give you an advantage over your competitors and is often what your potential customers use to evaluate you. Crafting an effective value proposition may sound easy but the process can be quite challenging. Your value proposition must be distinct, concise and interesting to attract potential customers.
When creating a clear and compelling value proposition your brand will start to see many benefits come to fruition.
You don’t necessarily have to share your value proposition with all your customers, but it should be the basis of every product or service you create. It should be embedded into all your marketing strategies.
Your value proposition also serves as a guide for your business decisions. After you have defined your value proposition you have a clear understanding of the type of services you should be focusing on, what your clients want and what is important to them and to your company.
Companies that do not share or know their value proposition run the risk of losing out on potential business. It is imperative that consumers know why you exist and why they should purchase from you instead of your competitor.
There are three parts that comprise your value proposition
Your value proposition is usually a block of text with a visual included. There are many different formulas to follow when starting to create your value proposition but one of the recommended formulas is as follows:
So, how do you make your value proposition unique? Something that attracts your target market and deters them from wanting to go to a competitor?
This requires some deep reflection with your team. It can be hard to spot what makes you unique right off the bat so having a team to help come up with a unique proposition is key.
You don’t need to be unique to everyone, you just need to be unique to your target audience, hit them at their pain points and evoke emotion.
Does your business have a value proposition? If not, will you be developing one?
It’s important to not only know what you offer and what makes you unique, but it is imperative that your customers and potential customers/leads know it as well.
If you have a value proposition in place, are you having trouble using it in your marketing efforts? The execution of this can be a bit tricky but it is extremely valuable that you work with your value proposition at every stage of marketing. This gives you a clear and concise message across the board and always ties you back into why you do what you do.
If this is something you are struggling with, reach out to us and we can help develop a great marketing strategy that hits all the main points of your value proposition.
Contact us at [email protected].ca to learn more about this opportunity.
Sources:
https://www.kunocreative.com/blog/good-value-proposition-examples
https://www.thebalancesmb.com/develop-your-value-proposition-2295755
https://cxl.com/blog/value-proposition-examples-how-to-create/
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