Value proposition is an element within the marketing area where one determines the set of advantages that your company has to offer. Through it you can easily identify your main ideas and projects, which are going to be decisive for you to attract and ensure the customers you crave.
Unveiling the value proposition
The premise here is to define the importance of your product or service to the customer. Through the value proposition it is possible to understand why customers opt for one type of product rather than another.
The creation of the strategic process of value proposition is of paramount importance to get the customers that the company expects and keep them satisfied.
The value proposition is elaborated based on the perception of the strengths of the brand, product or service. These points will determine and indicate how it should be recognized in the universe of buying and selling. It is the certainty of the quality of what it has to offer. This is what will point out why the consumer needs to buy his product and not the competitor.
Generally speaking, the value proposition clarifies how your products and services would heal the customer's needs satisfactorily or how they could bring about a significant improvement in your life, being something that is superior and that stands out from the others bringing exclusivity.
The value proposition must present in an objective and practical way the benefits of your product, because it is these benefits that will be stamped on your brand, or store, and this is what will captivate the customer making him choose a particular product.
Creating Value Proposition
Generally structured by a brief text, the most used form of distribution of the value proposition is the following:
Title: Make clear the benefit that your company / product offers, in a small description, being able to mention the products, clients and services.
Subtitle: Explain what your company manufactures or offers, detail your target audience, and why it is beneficial.
Bullet Points: Briefly list the advantages of your products or services that your company makes available.
Visual resources: Choose to stamp your value proposition an image that encompasses and represents your predominant message.
The value proposition should make clear what products and services are sold, what the main advantage that the company offers if the customer comes to acquire it, it must define who the end customer is seeking to achieve and what makes its offer attractive and unique.
Verify that the value proposition is comprised of all of the items described above. If it is not, it is necessary to create alternatives of value propositions.
Strengths tips for a value proposition.
From what we have seen so far, the value proposition is an effective strategy to characterize and get ahead of the competition.
Companies can create as many value propositions as they deem necessary, however, it is recommended that the focus be on three main ones. Check out tips to better develop your value proposition.
- Invest and gain in innovation, developing a new product, offering a service different from the others.
-Explain your performance by running a better and faster service than the competitor. Sell the same product with better price and payment terms.
- Negotiate prices with suppliers, so that the final value of your product is competitive in the market, without losing quality.
- Win in convenience by offering items with greater variety. And if your company has a privileged location, being closer to the customers, abuse the advertisement by highlighting the information.
Remember that your value proposition is responsible for leverage sales and get better results for your company because it is through it that you make it clear to the customer why he needs you, your product or service.
Briefly, you should pay close attention to your target audience, its main benefit is that it makes you the best buy option for someone. Know your competitor very well: what sells and sells, at what price, and build your strategy to stand out and offer something better. Be clear and objective when mentioning the qualities and advantages offered when acquiring the products and services.
Spreadsheets for strategy monitoring
Stay focused on your business by setting goals and following the evolution of your strategic plan. Receive performance reports of the goals outlined.
Based on Porter's five competitive strengths, with this spreadsheet you can gauge how attractive your business is.
Aimed at any type of company, this spreadsheet allows the registration of customers, their complaints and levels of satisfaction of them in relation to your company.
Build business models, have an overview of your format, evaluate the quality of the format, compare your business model with existing ones through the value curve. And many other features for your business.