Value Proposition – What is it?

Value Proposition

 

A value proposition is a clear statement that explains how a product, service, or company benefits customers, why it is unique or better than alternatives, and how it solves customers’ problems or improves their situation. It is often used as a key component in marketing and sales strategies to attract and retain customers by clearly communicating the distinct advantages and value that a business offers.

 

A well-crafted value proposition typically answers the following questions:

  1. What product or service is being offered?
  2. Who is the target customer?
  3. What specific problem or need does the product or service address?
  4. Why is this product or service the best option available to the customer?

 

For example, a value proposition for a cloud storage service might be: “Secure and easy-to-use cloud storage that lets you access your files anytime, anywhere, with unbeatable customer support.”

 

In essence, a value proposition is a promise of value to be delivered and a reason why a customer should choose a particular product or service over competitors.

 

Here are some additional resources for a deeper dive:

Value Proposition Design: How to Create Products and Services Customers Want

Value Proposition: Positioning for Success

 

I Power Seeds

Here are our takeaways and thoughts - pause and reflect, then nourish and grow!

Generally speaking, customers are external.  You can take a value proposition and apply it to your internal customers – your team members, employees, etc. 

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