How to Create Your Value Proposition in 3 Easy Steps
Your value proposition, can easily be the core of what makes a business survive. In order to write a value proposition, you have to create it. In order to create it, you have to understand it. So let’s explore what might be your value proposition, with an easy to follow, step by step guide.
On a side note, you don’t have to be actively writing a business plan to need this, this can also be considered your sales pitch depending on who you talk to.
1. Define Value Proposition – What Is It?
Let me start by asking this question, in a scenario all of you have experienced. You get a spammy looking email from someone asking you to buy something. Maybe it’s a teleseminar, or whatever. But whatever it is, you’re not buying it. Do you ever stop to think about why you’re not buying it? (Besides the fact that this guy somehow got your email address, and it’s ticking you off). It was likely because it wasn’t offering any value to you. If it did, the value wasn’t made clear. Basically, this business model was lacking a clear value proposition.
A value proposition is that something special you’re giving to a customer. Think…what’s that trigger that makes me want to buy your product or service? It’s value…what value are you offering someone? What makes your value different then everyone else’s value?
2. Types of value propositions
Okay, so we know *kind of* what a value proposition is. It’s still a little fuzzy probably, because I just told you to go to the grocery store and get something, but I didn’t tell you what type. Now we need to figure out, are we buying fruit here, vegetables, what? This is usually the missing step as entrepreneurs like us, we need to work backwards.
For this scenario, I’ve listed some value proposition examples here of the different types of value propositions you might have in your business. You can read that article for more information, but here is a simple version of the most popular types:
- Added Value, Less Costs
- Brand or Status
- The ROI your clients average
- The amount of money being saved
- The added value
- The solution to your customer problems