A value proposition is a statement that explains the benefit of what your product offers, who benefits from it, and why your business is the best option to purchase from. Basically, a value proposition is a promise to customers that you’ll deliver a product that is valuable, useful, and beneficial to them.
Over time, a value proposition will be used to not only define your business, but to define the relationship that you have with customers. When crafting a value proposition, it should be clear and easy to understand.
Here’s why your business needs a value proposition and some tips for writing one that produces amazing results.
What is a Value Proposition?
There are a lot of factors that go into developing a solid value proposition. You’ll not only need to identify who your target audience is but also what they care about. It’s also important to pinpoint what challenges and problems they have and how your product solves them.
A value proposition is also a good place to talk up your business. Let customers know why you’re the best option in solving their problem and how people will benefit by choosing to work with your business instead of a competitor.
Once you know what your customers value, what they like, and what they need, you can create a value proposition that is appealing and personal.
Why You Need a Value Proposition
A value proposition may be a short, concise statement, but it says a lot about your business. When done right, a value proposition may be just what your business needs to drive more leads, sales, and conversions.
The right value proposition will explain:
- Who your target audience is
- Why your product is valuable/beneficial
- What problem your product solves
- How your business is unique or different
Having a value proposition puts all of this information in a single location. This way, consumers don’t have to search through your website to find everything they need and want to know.
Having a quality value proposition allows you to better connect with your target audiences, which is an important factor for any successful business. A strong value proposition is also helpful in creating a foundation for developing future marketing and sales strategies.
If positioned properly on your website, a value proposition is also one of the first things that visitors will see. Have your metrics shown that your website is getting tons of traffic, but people leave without making a purchase or sticking around to learn more?
Bad website copy can have a huge impact on conversion rates. Adding a value proposition to your website is a great way to explain your business and to include the value and benefits that you offer.
How to Create a Strong Value Proposition
Writing a value proposition isn’t something that you want to do on a whim. Instead, you’ll need to research and really take the time to develop something meaningful.
To start, identify who your target audience is. Who are the people that will benefit from your product? What do they value and need? What challenges do they face?
When writing a value proposition, it’s also important to determine how your target customer speaks. What words do they use to describe your product? By using similar verbiage, your value proposition will be much more relatable and understandable.
Next, identify the problem you solve. Talk about the solution that you offer and how your product will impact a customer’s life. Maybe you can save them time or money, or maybe your product solves a long-running problem.
Last, a value proposition needs to detail what sets you apart from competitors. Create a message that resonates with consumers and convinces them that your business is the best option for meeting their needs and overcoming challenges.
Revise and Edit Before Posting
Before sharing your value proposition on your business website, you’ll want to make sure that it’s ready for prime time. Read it a few times to make sure that the statement you’ve come up with is believable, relevant, flexible, and emotional.
It’s also important that your value proposition is defendable. If you promise the world, your customers will expect nothing less. Make sure that your value proposition includes a message that you can defend.
A value proposition is much more than a way to share the benefits and value that your product offers. This statement is also a great way to communicate with customers, to drive sales, and to remain competitive in your industry. If you don’t yet have a value proposition, now is the time to create one!