Value Proposition: Why It Is Important
As a small business owner, one of the things you need to convey across all your marketing channels is your value proposition. What is a value proposition? It is the one defining statement about your business that will lead potential consumers to purchase from you. This is where you show your “value” or worth to the potential consumer. This is what sets you apart from your competition. It is the why a potential consumer should do business with you.
In your value proposition you should include: The benefits of doing business with you, how your product or service solves a problem for the potential buyers and how you are different than your competition. Too often when networking or marketing your business, you focus on what you do, the product or service but rarely do you mention why “you”. What can you do for those who use your product or service that others do not or can not do.
When a potential buyer lands on your website, this should be the first thing they see on your home page. It is not your tag line, or that you’re the #1 at what you do or sell. If 3 different companies sell a widget at at 3 different price points, why should I but this widget from you? If you are a plumber, why should I use you when I need repair work?
Writing Your Value Proposition
When writing your value proposition, you should answer the following questions:
1. What product or service do you provide?
2. What is the benefit of using your product(s) or services?
3. Who is your target customer?
4. What makes your product(s) or service(s) different or unique?
5. What can your target customer expect when doing business with you or your business.
Once you have answered these questions you can begin to write your value proposition.
1. In one sentence state the benefit your target customers will receive from using your product or service. Be sure that it is an attention grabber. Use language and words that your target customer can relate to.
2. In 2-3 sentences explain what you do or the product you offer, who will find it most useful and why is it useful to them.
3. List 3 key benefits or features. You can do these in bullet point format.
4. Use an image to reinforce your message. It can be a picture of the product, somebody using the product or service. Make sure the image is relatable to your target audience.
So, we searched the internet to find some examples for you. We found a great article where they show 7 examples that should help you in writing yours. Perhaps you have even seen these and did not realize that this was their value proposition. Check them out at 7 Examples
Having an effective value proposition on your website and all your marketing materials is key to gaining new customers or clients. It will set you apart from your competition and your potential customers will know what to expect and why they should do business with you.
Want to learn more about marketing? Then read some of our blogs.