What is a Value Proposition?
One of the most important steps in building your business is to define your value propositions. But what is a value proposition? I’ve got you covered.
A value proposition is a written promise of what your business will deliver. It introduces your audience and sets a clear understanding of what you do, whom you do it for, and how you do it differently. Your value proposition details what you offer customers and why they should choose you. It is product- and service-oriented. An effective value proposition should nail these three points:
Relevance: it should be relevant to your customer
Value: it should explain the value of your offer
Uniqueness: it should differentiate your brand from the competition
A value proposition should be easy to understand, without meaningless jargon or overuse of adjectives.
Here are some value proposition examples.
Nike: "Customizable performance or lifestyle sneakers with unique colorways and materials."
McDonald's: “McDonalds stands for friendliness, cleanliness, consistency, and convenience”.
For a business with multiple types of offers, the value props should reflect the different sides of the business. For example, Amazon’s value propositions range from “Easy to read on the go” for a device like Kindle, to “sell better, sell more” for its marketplace.
Here’s a template you can use to get started:
[Your company] helps [customer] to [benefits] so they can [value].
When creating Julie Nichols Marketing, I came up with several value propositions around the various offers I’m selling. Here is how I used the template I just shared.
“Julie Nichols Marketing helps small business owners to become fluent in marketing literacy so they can attract qualified clients affordably.”
And that is just one value proposition. I created at least five others which I use throughout my website to help explain the value I bring to my clients.
If you would like help developing your value propositions, I have a value proposition workbook download available on Etsy. This is the perfect guide to help you get your value defined quickly. It’s only 6 pages long — you could do this in an hour!
Download the Value Proposition Workbook here.
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