Do you know the ABCs of a good value proposition? If you are an owner, manager, or employee…do you know the value proposition of your company? Too often I hear no as an answer to this question.
Let’s start with a basic definition of value proposition:
A statement of promise and belief that a company’s product or service is delivered to the customer with the highest and best value to be experienced.
So basically a value proposition is a statement about the service or product of your business. This statement is a very powerful and important aspect of your business, so if you don’t know it (or worse, don’t have one!) you should learn it right away. Nine times our of 10, this statement will need to reworked to transform it into a more meaningful statement. A strong value proposition speaks directly to your target audience and it tells them exactly why they should purchase your products and services. A value proposition is a clear statement of the concrete results a customer will get from purchasing and using your products or services.
There is no right way to creating this statement, but I suggest you start with the following formula:
A — Ask yourself, what is the benefit of what you are offering? Why should your ideal customer purchase from you than your competition?
B — Be concise! In a short sentence mention this benefit, the product and/or the customer. Make it an attention grabber!
C — Create a 2-3 sentence paragraph explaining what you do or offer and why is it beneficial. Images communicate much faster than words so create a visual to reinforce your main message.
Communicate the benefits of your product, service or idea, simply and clearly
Make sure your statement is easy to understand (don’t use a lot of company jargon) and specific, telling the reader exactly what your message is and why they should listen. Make it memorable and different thank your competition so that potential customers/clients remember you.
A good example of a value proposition:
Hubspot: B2B companies recognized a 61% lower cost per lead and increased their organic traffic and lead conversions by an average magnitude of six-fold in 6 months.
If you have a value statement, email it to us. We’d love to hear from you!