“Your value proposition is an answer to the question: ‘Why should I buy from you and not your competitor?’”– Neil Patel
You’ve heard it before: “What is your value proposition?” It’s a phrase that gets tossed around a lot in the world of startups. But what does it mean, and why is it so important?
Let’s first start with what your value proposition is. How do you find it? I like to visualize a value proposition as a triangle. On one corner, you have the customer; on the second, you have the problem that needs solving. And on the third corner, you have your solution.
Your value proposition is the one thing that sets your product or service apart from others and tells your customers why they should buy from you. A compelling value proposition should be unique to your company and clearly articulate the benefits that your customers can expect to receive from using your product or service.
Why is it so important?
A strong value proposition can help you:
- Improve the quality and quantity of your leads
- Help customers build trust more easily with your brand
- Separate you from your competitors
So how do you find and write a compelling value proposition? Here are our five top tips to help get you started.
Research your audience before you start
Before writing your unique value proposition, you need to identify who exactly your target audience is.
Use surveys, web analytics, or customer interviews to identify the demographics that make up your audience. Ask questions to understand your audience’s motivations, key values, and challenges and how your products or services can help address them.
Study your competitors
The only way to know what makes your business unique is to analyze your competitors. Research their websites and social media to see what benefits they fail to offer that you might be able to address.
Brainstorm value proposition ideas with a small group by identifying all the benefits your products or service offer and what makes these benefits valuable.
Test for the best results
Testing will help you refine your value proposition and find the winners. Get the opinions of unbiased outsiders to reflect on how effective your brand’s key message is. A/B test ideas on landing pages to measure which ones perform the best.
Add additional value to make your offer stand out more.
Adding extra value at the end of your unique value proposition can help convince customers to take the action you want. By adding extra value such as:
- Free shipping
- Money-back guarantees
- No-obligation quotes
- Anytime cancellations
You can give potential audiences more reasons to try your offer.
How to write your unique value proposition
Following a structured approach will make it easier to turn your ideas into deceptively simple value propositions.
Break your value proposition up into two elements: The headline and sub-headline.
A clear and concise summary of the benefits the customer will receive.
One to three sentences that explain who you can help, how you do it, and why you do it. Avoid jargon and long, complex language.
You can make use of a value proposition template to ensure you highlight all the unique elements that differentiate your offer:
The Steve Blank Method
Best used when trying to emphasize the benefits of an offer and connecting your solution with particular pain points. We help (X) do (Y) by doing (Z)
For example, We help industrial companies generate new leads with customized social media and content packages.
The Geoff Moore Method
Best used when wanting to specify the industry category with particular benefits.
“For [target customer] who [needs or wants pain points addressed], our [product/service] is [category of the product or industry] that [benefits the customer].”
These are just two examples of formulas you can use to write a strong value proposition. The secret to success is truly understanding your audience and what makes your company unique.
Need help crafting your winning value proposition? Our team of experienced copywriters is ready to help you turn your company’s competitive advantage into a unique value proposition that resonates with your target audience.
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