In today’s crowded marketplace, it is more important than ever to be able to articulate a strong value proposition. A value proposition is a clear and concise statement that explains why your product or service is better than the competition. It should answer the question, “Why should I buy from you?”
I just put together some great tips on how to create a strong value proposition. Here are a few of the things that I think you should find particularly helpful:
Table of Contents
Prioritize The “What” Over the “Why.”
Don’t just tell people why your product or service is great. Instead, focus on the specific benefits that it offers. What will your product or service do for the customer? How will it make their lives better?
Actionable Example
- Instead of saying, “Our product is great because it’s the most innovative on the market,” say, “Our product can save you 15% on your energy bills.”
- Instead of saying, “Our service is the best because it’s backed by a team of experts,” say, “Our service can help you get your taxes done in half the time.”
Simplify Your Offer With Parts Or Steps
Don’t overwhelm your prospects with too much information. Break down your offer into easy-to-understand parts or steps. This will make it easier for them to see the value of what you’re offering.
Actionable Example
- Instead of saying, “Our product is a comprehensive solution for your marketing needs,” say, “Our product can help you with everything from creating content to managing your social media.”
- Instead of saying, “Our service can help you achieve your financial goals,” say, “Our service can help you save for retirement, pay off debt, and invest for the future.”
Explain With Numbers, Bullets, or Data.
Numbers and data can be very persuasive. When you’re explaining the benefits of your product or service, use numbers to quantify the value. You can also use bullet points to make your message easy to scan.
Actionable Example
- Instead of saying, “Our product is the best on the market,” say, “Our product has been rated the best by Consumer Reports for the past 5 years.”
- Instead of saying, “Our service is the most affordable,” say, “Our service costs 20% less than the competition.”
Illustrate Your Value Prop With Powerful Graphics
A picture is worth a thousand words. Use high-quality graphics to illustrate the benefits of your product or service. This will help your prospects visualize the value that you’re offering.
Actionable Example
- Instead of saying, “Our product can help you lose weight,” show a before-and-after picture of a customer who used your product.
- Instead of saying, “Our service can help you improve your credit score,” show a graph that illustrates how your credit score has improved since you started using the service.
Substitute General Descriptions With Specific Facts
Don’t just say that your product or service is “great.” Be specific about what makes it great. What are the specific features and benefits that make it stand out from the competition?
Actionable Example
- Instead of saying, “Our product is great,” say, “Our product has been featured in The New York Times, The Wall Street Journal, and Forbes.”
- Instead of saying, “Our service is the best,” say, “Our service has helped over 1 million people achieve their financial goals.”
Let Someone Else Do Your Bragging
Don’t just tell people how great your product or service is. Let your customers do the talking for you. Share testimonials and case studies that demonstrate the value of your product or service.
Actionable Example
- Instead of saying, “Our product is the best,” quote a customer who says, “This is the best product I’ve ever used.”
- Instead of saying, “Our service is the most affordable,” quote a customer who says, “I’ve tried other services, but this one is by far the most affordable.”
Here are some additional thoughts on creating a strong value proposition:
Make Sure Your Value Proposition Is Relevant To Your Target Audience
What are the problems that your target audience is facing? How can your product or service solve those problems?
Examples:
- A software company that sells marketing automation software to small businesses would focus on the benefits of saving time and money.
- A financial advisor who helps clients invest for retirement would focus on the benefits of peace of mind and financial security.
Be Clear and Concise
Your value proposition should be easy to understand and remember.
- A value proposition should be no more than a few sentences long.
- It should be easy to understand and remember.
- It should use simple language that your target audience can understand.
Be Persuasive
Your value proposition should convince your prospects that they need your product or service.
- It should use strong verbs and adjectives.
- It should make a promise to your prospects.
Be Consistent
Your value proposition should be consistent with your marketing materials and your website.
- It should be used in all of your marketing communications.
- It should be easy to find and understand.
This Takes Time But You Won’t Regret It
Creating a strong value proposition takes time and effort, but it is worth it. A strong value proposition can help you attract more customers and grow your business.
