Defining Your Value Proposition
You absolutely MUST know your value proposition and be able to clearly communicate and cascade your VP to any customer facing staff members.
A truly great value proposition is a statement that paints a clear picture of what your brand has to offer to prospects.
- How your product or service solves/improves problems
- What benefits customers can expect
- Why customers should buy from you over your competitors
It introduces you to prospective buyers and helps you make a strong first impression. That’s why it is so important to have a powerful Value Proposition.
Here are a few VP examples from those that did it right.
SHORTEN. SHARE. MEASURE.(Join Bitly, the world’s leading link management platform)Known for its link shortening, Bitly is all about removing clutter and being concise, so it’s only natural that the company’s value proposition reflects these traits as well.In these simple statements, Bitly summarizes its three major services in a way that is not only easy to remember, but also cannot be misinterpreted.
- MailChimpSEND BETTER EMAILThree little words. That’s all that MailChimp needs to tell you what its brand is all about. It’s simple, direct, and bold. Use its service and you will send better email — no ifs or buts.
- LyftRIDES IN MINUTESUnlike others on our list, Lyft skillfully targets two different personas at the same time with two distinct value propositions. Both clear and concise, one speaks to who want to get rides and the other to those who want to give them.While many companies would shy away from this, Lyft’s approach is highly effective yet subtle with the help of tasteful design.Like MailChimp, the company is able to communicate its value in as few words as possible. This is especially important when your product or service’s goal is to simplify the lives of its users.
- FreshBooksSMALL BUSINESS ACCOUNTING SOFTWARE DESIGNED FOR YOU, THE NON-ACCOUNTANTIn their value proposition, Freshbooks does a great job of telling you exactly what they do and who it is for, calling out their personas directly.By boldly addressing them as “non-accountants,” FreshBooks not only commands attention but always highlights a common marketer pain point of not being able to understand accounting software.
START SELLING TODAYSometimes people just don’t have cash on them and as a consumer, I think it’s safe to say that nothing is more frustrating than trying to make a purchase then finding out they don’t accept credit cards. It’s annoying to the buyer and often leads to the business owner missing out on a sale.Square’s product eliminates both of these grievances and its value proposition speaks directly to that. With its product and service (you can receive the square reader for free, but to use it, the company takes 2.75% of each transaction), you can start selling more right away. It’s that simple.
I have attached a comprehensive Value Proposition template to guide you through this process. Be Brilliant!