How to create a stellar Value Proposition
Propose to your audience what your value is.
A value proposition is a core fundamental pillar to any business. This means that your business has a promise of value they intend to deliver. Consumers follow their values and act with their wallets. If you want to communicate continuously with your audience, you need to be clear about what you will provide to your customers.
Definition check.
Value propositions can have different approaches in the following ways focussing on:
Triple bottom line (people, planet, profit)
Design thinking (user-centred)
Co-design (community lead approach)
Customer centred approach (from point of sale to after sale)
Corporate Social Responsibility (social purpose)
Engagement (relational and two-way communication)
All these approaches work best when used critically by identifying where your company will be most sustainable in your long-term strategic goal. You can utilise more than one of these value-driven strategies that can help build your value proposition.
A value proposition is a statement your company makes that showcases why customers should work with/purchase your products and/or services.
5 #HotTips of how to create a great value proposition:
Define what you do.
Make it SEO friendly so people can find you online.
Be brief and specific.
Explain your pain point.
Tell them why they are your ideal customer.
Sounds simple right? But most marketers find it hard to write a really good value proposition. A survey via marketingexperiments.com found many of them struggled because;
The company doesn’t clearly express it.
They haven’t identified their value proposition.
There is no testing and measuring the value proposition.
The elusive unicorn of Value Propositions
The Holy Trinity of Value Propositions -
DO provide proof.
Provide proof for your audience about your product claims. It’s not enough to simply tell your audience how good you are. The best thing you do is PROVE it by providing evidence; whether through a case study (which you can do on your own OR have an independent company do it for you), independent research like an analysis group, customer testimonials and reviews from user-generated sites like ‘Trustpilot’ or ‘Compare the Market.’
DO provide clarity.
The most important aspect of providing clarity to customers is to showcase why they should care about your product/service. You need to clearly communicate what sets you apart from the other competitors in the market. Clearly state the selling points to why a consumer should become your customer.
DO testing.
A/B testing is a great way to test which value proposition resonates best with your audience. Have a look into what type of A/B testing you can do on your site. You can change the language style, different sets of keywords etc. You will be able to see by the clickthrough rates which one performed better.
One last thing!
Value is determined by the customer and not by the company. If you provide these insights into your value proposition there will be an increase in conversion rates.