Every business needs a value proposition
What is a value proposition:
This is a statement of how your product or service meets the wants and needs of your customers in a unique or better way than your competitors. In short, it is the reason why customers or clients will buy what you are selling.
Why do you need a value proposition:
This is the basis for your marketing. Your content and positioning is based on your value proposition. If you can’t articulate why your product or service is worth buying, you will be hard pressed to sell it.
How to create your value proposition:
- Make a list of your brand attributes. Such as: nimble, experts in a specific software, experts in small or large teams, offers a dedicated account manager, has 24/7 customer support, women-owned, unique services offered, pricing, custom or off-the-shelf solutions, etc.
- Do your market research.
a. Identify your top competitors
b. Compare your brand attributes to your competitors using a matrix. Be honest in your assessment.
c. Highlight your attributes that are unique compared to your competitors. If you don’t have any unique attributes, go a step further and identify how your competitors are presenting their attributes. Are there any that you do better?
d. If you conclude that there is nothing unique about your business – you have a reason to be stuck. There HAS to be a reason you think people should buy what you are selling or hire you over your competitors. Sometimes your value proposition can be very personal – people are hiring YOU because you are THE expert in your field, offering unmatched experience and insight that results in excellent service and outcomes. Or maybe you are a local provider, and potential clients might like to support local businesses. Maybe your business is engaged with community service or nonprofits, and that makes you unique. If you still can’t identify how or why you are unique, please call us for a free consultation.
- Identify the top 3 attributes that make you unique. State those attributes in a sentence – this might be your tagline or first line of your “About Us” page on your website.
How to market the hell out of your value proposition:
- Create a catchy (yet concise) tagline that communicates your value prop; add in a prominent position on your homepage and other relevant pages on your website
- Create a video of you explaining it
- Make a graphic of what your clients need and how you provide it
- Provide a comparative matrix of your product or service versus your competitors
- Ask clients or customers to write reviews and post them in all of your channels
- Create social media ads using your tagline
Creating your value proposition is key to an effective marketing strategy. If you need help, drop us a line and let us help you create your value proposition.