It’s fair to say that there are slightly different opinions on what the term value proposition actually means.
So, for ease and simplicity, let’s start from the beginning…
What A Value Proposition Isn’t
Your value proposition is NOT…
Your Company Strapline Or Slogan
If you’ve got something catchy, that’s brilliant. But a slogan does not act in the same way as a value proposition because it doesn’t convey the benefits of the company or its products or services.
Your Mission Statement
Your mission statement is a description of the internal perception of the company. It’s your ‘why’, and defines what your company does. Mission statements often sit public-facing to convey your ‘essence’.
Your value proposition can certainly extend from your mission statement, but they arent the same thing.
Your Positioning Statement
This is another internally focused tool that many businesses get mixed up with their value proposition. A positioning statement describes your brand’s purpose for being and the market gap you fill. It is used to align messaging within internal teams but is often seen used externally, too.
Your Products or Services
The widgets you sell don’t define why someone should buy from you because they aren’t valuable in and of themselves. The old adage goes that a customer doesn’t want to buy a drill per-se, rather they want a hole in the wall. The drill is mearly a means to an end.
A value proposition, however, revolves around how and why your business will deliver value.
What IS A Value Proposition?
Now that we’re clear about what your value proposition is not, let’s build upon what it should be.
A value proposition is a statement, addressed to your target market, that outlines exactly who you are, what you do and what benefits you promise to deliver to your customers.
It describes your entire business in a simple format that explains why you’re better than your competitors and can be easily absorbed by the reader.
A compelling value proposition…
- Unites employees and provides job satisfaction. Understanding the bigger picture and the benefits you are providing to your customers is conducive to feeling like what you do matters.
- Decreases bounce rates and optimises conversions. Your value proposition should explain how you’re different (and better) than your competitors. A clear and easily digestible value proposition lets potential customers know they’re in the right place for solving their problems. This means they’re both more likely to stick around and find out more and buy from you.
- Informs your external messaging. Because your value proposition sums up the benefits you provide, it helps to shape how you position yourself through all external communication with your target market.
Value propositions are powerful things. They give the reader the motivation to commit by stating the benefits a potential customer will get upon doing so.
Would you be able to articulate your value proposition if asked? What is it that your customer gets if they buy from you, and what makes you different?
Where Does A Value Proposition Sit?
Most commonly, value propositions live on the homepage of your website. They usually follow an attention-grabbing headline.
That’s right. It’s usually that bit, the first scroll down.
Some companies site them in multiple locations if it makes sense to, but because a value proposition’s primary role is to let a potential customer know they’re in the right place, the homepage is an excellent place to start.
What Does A Value Proposition Look Like?
Many compelling value propositions follow this pattern:
- Attention-grabbing headline statement.
- Descriptive subheadline sentence.
- Strong, bullet-pointed benefits that differentiate you from your competitors.
And let’s not forget the importance of clean lines and striking visuals.
Tips For Writing A Compelling Value Proposition
Starting to write your proposition can feel overwhelming. You might wonder how you’re going to concisely describe your whole business in two or three simple sentences.
Read through these tips to get you going, and then put pen to paper. You’ve got to start somewhere!
1
Do Some Research
Plagiarism is a no-go of course, but looking at other companies’ messaging can really help to get the juices flowing.
2
Put Yourself In Your Customer’s Shoes
Remember, a value proposition is all about the customer and what they’ll get if they choose to buy from you. Write with empathy, speak their language and leave out any jargon or complicated words.
3
Be Clear And Specific
This isn’t the place for short and snappy. Outline both the tangible and intangible benefits that your customers can expect to receive and be sure to spotlight how you’re unique.
Don’t Neglect Your Value Proposition
Summarising the business you’ve worked so hard to build into a few sentences might sound like an impossible task. And, even when you get there, showcasing your value might feel pretty uncomfortable at first.
But remember. Businesses that can’t communicate what makes them unique or why prospects should come on board are missing out on a huge piece of the marketing puzzle. One that can help inform both internal and external messaging and convert leads into paying customers.
Tell people why you’re the best. You won’t regret it.
Is writing your value proposition giving you sleepless nights? Book a call with me and let’s work through it together.
