What is your value proposition?
Your value proposition summarises why a customer would choose your product or service
This is a simple statement that summarises what you offer that is different and better than your competitors. It should be clear and concise and easy to understand.
Firstly, why is it important to have a value proposition?
Your value proposition is important as it informs the customer of what your product or service is and why it is better than your competitors.
Here are some considerations to make in creating your value proposition:
What are your customer pain points?
Think about what need or problem you are solving for your customers and how your product or services helps solve their problem. Get really clear on what your customers wants, needs and fears are.
What makes you different vs your competitors?
Define your Unique Selling Point (USP) what sets you apart from your competitors and gives you that edge? Perhaps you are in a highly competitive market, in what ways can you stand out? e.g. your brand is all about sustainability and this is demonstrated through the type of products you sell? It's worth taking a look at your competitors and observing what sets them apart.
Is your proposition clear and easy to understand?
Are your customers clear on your offering and are you clearly communicating the benefits of your product or service? When thinking about the benefits of your offering, think about how it will specifically solve your customers' pain points, how does it make your customer's life better? Be descriptive here, you want to make this as clear as possible.
Is your proposition credible?
How can you communicate your proposition in a credible way? This could be achieved by demonstrating why you are the expert in your area or sharing your experiences. Perhaps you experienced the same challenges as your customer so you have walked in their shoes.
Validate your proposition
Ask your customers about your proposition, are they clear on what you offer and how it can solve their pain points? Could it be clearer? Customer feedback is useful insight and can be gained through surveys, focus groups and via your website.
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