If I am your ideal customer, why should I buy from you instead of any of your competitors? This is the question to ask yourself when you’re putting together a value proposition. Many businesses do not have a value proposition or, where they do, it isn’t effective enough. This often comes down to not understanding what one is, how to write it, and how it benefits them. When your value proposition is usually the first thing your customer will see, it’s important to get it right.
What Is A Value Proposition?
What can you do for your customer that no one else can? That’s your value proposition. It’s the value you propose to give to a customer. It’s about more than just the services you offer. It’s what makes your business unique. A value proposition is your promise that you can solve a problem your competitors can’t and it’s why customers should choose you over someone else.
What A Value Proposition is not
A value proposition is not simply an explanation of what your product is and what it does. It is also not intended to be a headline, slogan, or something similar. A value proposition is not the same as a mission statement. It needs you to go deep into explaining to your customer that you know what their problems are, what it is you want to solve for them, and how you can do it when no one else can.
Why Do You Need A Value Proposition?
Ultimately it goes to the heart of what you do and why you do it. With so many competitor businesses out there, you risk blurring into a sea of options if you don’t have a strong and clear value proposition. Secondly, a value proposition is an important conversion factor. Having a clear, effective value proposition can be the difference between making a sale and losing it.
How Do You Write A Value Proposition?
Almost a third of businesses either do not have a value proposition at all or, if they do, it is not properly optimised. There can be any number of reasons for this including a failure to recognise the value and importance of it, while also not knowing how to write one effectively.
Structuring A Value Proposition
There’s no hard and fast rule of what structure it needs to take. Some core elements you’ll want to include, however, are:
- A gripping headline that clearly explains the benefit to the customer
- A sub-headline that goes into more detail about what you offer, to whom, and why
- Bullet pointed benefits (around 3 is usually enough)
- Photo or video imagery or your product or services