What is a value proposition?
A value proposition is a short sentence used to explain the benefits (or value) of a business, product or service to customers. It helps to answer what customers are wondering: why should I choose you?
Before we get started, copy our Value Proposition Template to your Google Drive to get started!
How do I create a value proposition for my business?
Think about why your business' product or service is valuable to your customer and ask yourself questions like:
What are your customers really paying for?
Is your design or service is something they can’t get anywhere else
Do they trust you as a person?
Are cheaper than your competitors, for the same quality of service?
Are you conveniently located or go to the customer’s home?
Do you offer the highest quality?
Tips to writing a value proposition
Understand what your customers want most
Maximize the benefits your provide and what makes you better (or different) than your competitors
Emphasize benefits, not features
Keep it short and and clear, use everyday language
Value Proposition Examples
Skysthelimit.org: “Entrepreneur development organization”
Product: Financial and educational resources for potential entrepreneurs. Mentorship opportunities for volunteers/donors.
Target market: Only 18 to 29 year olds who want to start a business (so we understand the challenges of starting a business when you're young and with few resources!)
Primary benefit: Combines training, coaching, loans, advisors and mentors all in one place.
What makes it unique: Does not charge young entrepreneurs for the program. Works one-on-one with each entrepreneur to make sure they get what they need. Uses technology smartly (i.e. mobile apps + online platforms)
Why is having a value proposition important?
Value propositions have proven to help businesses grow faster and can even boost marketing campaigns and increase your customer base. They also help to create a strong differentiation between you and your competitors
Research and test your value proposition before making it stick to make sure that your message strikes the right note with the right people.