What is your Value Proposition and Why it Matters
What is your company's competitive advantage? Why would someone want to buy from your company instead of a competitor? Your company's value proposition is not just a simple statement, it's the key to sales success. Let's define what a value prop is, what not to do, why it's needed to address your target customers, and how to create an amazing value proposition.
Having a Unique Value Proposition
A compelling value proposition is going to communicate why customers want to choose your service over anyone else. It's important to know that it isn't just a description of what you do — it's a positioning statement that provides a promise of value for your unique selling offering. The customer experience is important to your value prop, and it should address their main pain points.
We won't be able to say it enough. A value proposition is a promise.
Done right, and it will be one of your highest conversion factors. To make yours stand out, it should represent your core values and also convey your unique selling proposition. You should convey what you must stand out, while always being honest about your products and services.
The value for customers needs to be apparent, and not having one means losing to competitors whose value propositions are clear.
A Good Value Proposition Example and What a Value Prop is Not
Understanding a good value proposition through modern examples can be really helpful. Nikeis a brand that it's value proposition makes it known by everyone. So what is it? Nike's value proposition: They deliver customizable, performance products that make anyone feel like an athlete.
Is their product design important? Yes. Are their marketing materials incredible? Of course. But a value proposition is more than all of that.
It's also important to know that a value proposition is not a tagline or slogan. Nike's tagline “Just do it” is important but alone it doesn't let their target market know what they offer.
How Your Value Proposition fits into your Marketing Strategy
Your value proposition canvas is how you communicate your message to your customer base. Though you'll include it marketing campaigns, your website's landing page and product pages are where you want to make sure your business provides this message.
To use the value proposition canvas you need to have three parts: a headline, a subheadline/paragraph, and visual elements.
Part 1: The Headline
Customers will receive a succinct value proposition statement here. Your organization communicates its value proposition creatively while also being direct.
Part 2: The Subheadline or Paragraph
Here is where you make the case for how your value proposition tells customers that your company offers the best experience and delivers on its promises. You should be able to communicate this in three sentences, and speak to your particular customer.
In some cases, an image, video or infographic may be more effective than words alone in conveying your value proposition. Adding visual elements to your message can help capture your audience’s attention.
Summarize: What's a Good Value Proposition?
Your value proposition should address a primary customer need. This focus helps keep your value proposition clear and easy to understand.
For example, a primary customer need might be low prices, convenience, or selection. A value proposition that addresses a primary customer need might be: "The best selection of books at the lowest prices."
After that, you'll want to explain what results your customer can get from using your product or service. For example, will they save time? How will their workflow become more manageable?
Your potential customers are not only considering your business' offerings in light of their own needs, but they are also comparing what you offer to that of your competitors. Consequently, your value proposition must include specific points of differentiation. These key points will help customers see precisely what sets your company apart.
Create a Strong Value Proposition for your Target Audience
A value proposition is a statement that articulates the unique value that your company offers to its customers. It's an important tool for marketing and sales, and it shouldn't be left out of your sales process. At Poseidon we weave your value prop into your workflows through omnichannel outreach. If you want to send a clear message, while also being efficient and fast. Reach out for demo or start free with a trial.