Imagine you just started a business selling wigs. Of course, you wouldn't be the sole business selling wigs in that area. A potential customer may begin admiring your wigs and also would want to consider patronizing you. The customer may ask ‘why should I buy wigs from you?’. How do you respond?
To answer this question, you would need a unique value proposition. This value proposition can be simply described as the major reason or a set of reasons why your product (that is, wigs in this example) is the best fit for that particular customer or a group of customers.
Having known what a value proposition is, you may then proceed to answer your customer’s question by replying “My wigs complement your skin color, they are affordable, and they are the latest wigs available”.
Is it really necessary to have a unique value proposition?
Your value proposition is your tool for convincing customers and investors why your business is worth patronizing or investing in. Without a unique and attractive value proposition, your business will not stand out in the eyes of your potential customers and they wouldn’t see much reason to patronize you.
Value propositions complement your brand and strengthen your brand identity. In our example, customers that patronize you would recognize your wigs as affordable and can also recommend your wigs to other friends which will help spread your brand awareness.
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Practical examples of value propositions are:
This section of this article highlights examples of popular businesses with their value propositions - (that is, why you should patronize them):
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Uber - The smartest way to get around
After a prospective customer hears ‘the smartest way to get around, the next question which comes to their mind is ‘what makes Uber the smartest way to get around?’
Uber answers this question in their value proposition, saying, ‘one tap and a car comes to you; your driver knows exactly where to go, and your payment is completely cashless.’
These points all show why Uber is the smartest way to get around and would make the customer choose Uber over its competitors.
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The Apple iPhone - The Experience IS the Product
Just as in the Uber example, the customer will always want to find out why he should choose the iPhone over other phone models and brands.
Again, Apple answers this question using its value proposition, saying, ‘The iPhone is more than just a collection of features; it is absolutely magical, beautiful, simple to use, and graciously blessed with huge design aesthetics’.
Giving such an answer in its value proposition helped put the Apple iPhone in front of its competitors.
How do I write a great value proposition for my business?
Having known what a value proposition is and how important it is to your business; this section of the article explains the steps to take to develop a sound value proposition for your business:
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Carefully define your audience:
This is your very first step to creating your value proposition. You should set out and specifically determine your target audience. Study your audience in a general sense and note down their attitudes and behaviors under certain conditions. This will help your value proposition to be able to relate to them on a personal level.
Market research will be helpful here.
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Ask and answer the questions:
In other words, determine your selling point. This is where you ask yourself why customers should buy from you and what makes your product different from the others. Here you would put your best foot forward and explain how your product will benefit the audience you have studied in step 1.
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Look to motivate, being clear and simple:
In laying out your value proposition, you should include those points that inspire them and would give them the drive to want to convert to being your customers. You should also be clear, simple, and specific about what you are offering and how it would benefit them.
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Be unique and human to your audience:
Being unique involves differentiating your product or service so that it stands out from the crowd. In your value proposition, you should strike a chord with your audience. It should resonate with them and be able to excite them about what you are offering.
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Gain credibility:
Credibility here refers to the extent of tangible proofs that support your value proposition. These proofs will show the customer that you are keeping true to your value proposition and they tend to trust your business more.
RELATED: How to Build a Strong Visual Identity for Your Brand
Are there things to avoid when writing a value proposition?
Creating a selling value proposition requires much diligence and care. With such care comes things you should avoid.
You should not try to establish or define your audience through your value proposition. Rather, the nature of your audience should guide you in designing your value proposition.
Be wise not to address every customer's needs through your value proposition. It is okay to accept that not every need of the customer can be met in what you are offering.
Conclusion
A great, unique, and selling value proposition will help your business to stand out from the competition and secure more customers. This is because the customers put more trust in your business to keep to your value proposition.
SmartSMSSolutions can assist you in designing your business value proposition and publicizing them through Bulk SMS to boost your brand awareness and increase your business prospects. To request our assistance, register with us now, leave us a message at