Your value proposition is your promise of benefits, value and performance to your customers and a central element of your business model. In practice, it is also used as a marketing tool.
The less known the startup or company, the better the value proposition must be formulated. In addition, the value proposition is often the customer’s first touchpoint with the company. The value proposition must be formulated in a crystal-clear and understandable way and is part of the company’s value worlds. In the course of our research, we analyzed several websites of startups, medium-sized companies and corporates with regard to their value proposition. Particularly among the larger companies, we noticed that there is apparently often a lack of understanding of clear and comprehensible value propositions in their customer segment, or they simply do not consider it necessary.
Read this article to find out how you can create a unique value proposition and which positive practical examples you can use as a guide in your communications.
Your value proposition is the benefit you promise to your clients to gain after the purchase of your product. In other words, the value proposition makes your product attractive to your customers.
Think of the Value Proposition as a contract between the customer and your company where the customer “hires” your company to solve a problem.
Those are no examples of value propositions
Value Proposition after Steve Blank
“We help X do Y by doing Z.”
Value Proposition after Geoffrey Moore
“For (target customer) who (need or opportunity), our (product/service name) is (product category) that (benefit).”
In the perspective of the solution:
You want to have the Value Proposition Canvas as a template?
Examples of great value propositions from the field
Value Proposition Canvas as a tool
The core of the Value Proposition Canvas is reduced to one sentence: Your target audience(s) and their “Pains” as well as their “Gains” are directly contrasted with the value proposition of your product or service with its pain-solvers and profit-generators.
The value proposition is usually a block of text with or without an image (photo, hero shot, graphic). There is no one right way, but if you want to get started, try the following structures as a tool. But keep in mind: The value proposition has to fit to you and your corporate culture. Your company must be able to identify with it.
Your DNA depends on your value proposition.
How to evaluate your current value proposition
What makes a very good value proposition?
Helpful for the creation is also Simon Sinek's approach "Start with why"
Conclusion - On the way to your value proposition
A value proposition (a statement) that identifies clear, understandable, measurable and demonstrable benefits that your customers will receive if they are interested in / purchase a product or specific service.
An aid or tool with which you systematically work on your value proposition. The VPC is an extension of the Business Model Canvas and one of the central customer-centric tools from Lean Startup.
Value propositions of companies are usually to be found on the homepage of a website in the first sections of the website. Pioneers are big players, but also software companies. Therefore, look at the websites of Hubspot, Salesforce, Slack, Apple and others.
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