How to perfect your value proposition! (Plus 3 great examples)
Let's start with what a value proposition is and why you need one:
Your value proposition defines your company’s offering, shows prospects why your company is better than the competition, and states why they should choose you rather than your competitors. When done correctly, it’s one of the most powerful conversion factors, dramatically improving your bottom line.
If you’re not clear about your value proposition, your potential customers won’t be either.
So let’s get down to writing a great value proposition.
How to write a compelling Value Proposition
Nailing your value proposition starts with really knowing your ‘ideal customer’ - understanding their goals, challenges and objections to adopting your product and company.
Firstly, identify what value your products bring to the customer, and how and why your company is distinctly different and better than the competition. Then draft up a statement that explains what benefit you provide, for whom and how you do it uniquely well.
Remember, your value proposition is not a slogan or a strapline or a catchphrase. Keep it in the language of the customer, not your company’s jargon.
If you are struggling, answer these questions:
- Who is your audience?
- What do you do? What are you running your business for? What is your unique selling point? What value do you bring to the customer? What are their problems? What differentiates your product or service? What is your price point?
- How do you solve the customer’s problems?
- Why should the customer choose you?
- Where are you? Where do you work? Where is your market?
To verify you’re on the right track, keep in mind these three key points:
- Clarity: your value proposition must be easy to understand
- Benefits: don’t focus on technical details, just on the benefits to the customer
- Differentiation: what are you doing that your competitors aren’t?
The 4 key Elements of an awesome Value Proposition
Your value proposition should follow a basic formula:
- Headline—describes the outcome or end benefit to the customer
- Sub-headline or paragraph—explains what you offer and why
- Benefits—lists the benefits or features of your brand or product
- Imagery—displays an image or video to build your call to action
What does a great value proposition statement look like?
Netflix nails it with this value proposition. Is it clear? Totally. Benefits? Anytime, anywhere. Differentiation? From $7.99 a month. Beat that, competitors.
Unbounce also ticks all the boxes. It’s clear what the benefits are and why they’re different – you can do it without I.T.
Grand Scale example for our Kickstart online programme
Never assume your prospective customers know who you are, what you do and why they should choose you above your competition. Global brands spend millions on messaging and advertising because they can’t risk being forgotten.
A compelling value proposition with the right message and imagery will improve conversion rates, optimisation your lead generation and enable your business to grow.
To find out more about Grand Scale please book a call with our team or download The ultimate guide for B2B companies to rapidly scale their customer base.