The Difference VALUE PROPOSITION Makes in Marketing Your Business

Running a successful business is no easy task. There is a lot of waddling beneath the surface of the water for every successful business venture you see around you. A lot of research, studies, surveys, planning and so many others go into the smooth running of a business. 

A huge percentage of a business’ success or failure is attributed to its planning and the execution of the plans. While this is vital, it is also important that in the planning process, a business defines and establishes its identity, values and most importantly, its value proposition.

What is Value Proposition?

Simply stated, value proposition is the value a company promises to deliver to its consumers if they buy from them.

It is a company’s promise to its customers on the quality of products and/or services and benefits they will gain when they patronize the company. 

The value proposition of a company should be contained in a few words, around 10 words or a bit more. This is the reason why even experienced marketers find creating a value proposition a bit problematic or difficult.

Here are some examples of some popular brands and some parts of their value propositions

A clear similarity all the value propositions in the examples above share, is that they tell the consumer in a few words, what they do and why they are different from their competitors.

Photo Credit: Pixabay

The Importance of Value Proposition

A value proposition is a clear statement that tells a consumer or a prospective client why they should do business with you. It should be able to tell that person why your products and/or service will be of more value to them than your competitors.

In essence, your value proposition should tell someone why you are different from the others in the same industry as your company; it should show the uniqueness of your company’s products and services. 

A great value proposition will enable you set your brand aside as the best provider of a product or service.

Finally,

All the above stated benefits of a value proposition will not happen if your value proposition is not well written. So, before we go, let’s look at a few tips on the characteristics of a well written value proposition. A well written value proposition:

• Is Easy to understand: don’t use complex words or terms, keep it simple.
• Is Concise.
• Is displayed where your target consumers can see.
• Addresses how your business meets the pain points of your ideal customers.

• Should make promises backed by evidence; don’t claim to be the number one restaurant in Nigeria without any proof, instead, you can use your customers feedbacks to show how satisfied your customers are with your services.