How to define your business value proposition
If you are entrepreneurial you're probably familiar with the concept “value proposition”, however, you are likely to have problems defining it for your trades. Today we give you some clues about how to define the value proposition of your business. Before we get down to business, we must understand the importance of defining a value proposition for our company. This proposal is decisive when a customer Decline for us rather than by competition, and is defined with the objective of solve a problem or meet a need for form innovative. To define it correctly, we must:
- Identifying our target audience
We will not be able to identify the need we are meeting if we don't know our target audience. Therefore, the first thing to do is to determine who make up our target.
- Make a list of benefits
Once we know our audience, we will have to detect the benefits and values that our product provides you.
- Differentiate ourselves
Our business proposal should Differentiate yourself from that of the competition, it would not make sense to provide the same as other competitors are already offering in the market.
- Structure it with simplicity
Anyone should be able to understand our proposal just by reading it. So this should be simple, clear and direct, the shorter the better, sometimes less is more. It is therefore advisable to avoid the use of technicalities that are so abused, as long as we are not in a very specialized market.
- Fix a problem
Our value proposition should Make the solution clear what it offers for a given problem. To do this correctly, we will have to identify the problem and put ourselves in the user's shoes to transmit the solution to them, instead of communicating what we think we offer.
- Offer credibility
We must not communicate something that we cannot demonstrate. Saying that we are the best will do us no good if we don't have a solid base to rely on to prove it.
- Provide visual support
Whenever possible, we must provide visual support that reinforce our message and help us to capture the attention of our recipients.
- Ask us and answer us
A trick to make it easier for us to define our value proposition is Ask us about our business, the answers will give us the keys to defining an excellent value proposition. Some of the questions we can ask ourselves are:
- What is the worth What do we bring to our target audience?
- Whats trouble Are we going to solve our target?
- Whats need or needs of our customers are we going to satisfy?
- Whats products do we offer and to whom?
- Test it
To verify that we have really done a good job, we must verify that our value proposition meets certain requirements. To do this, you must answer in the affirmative to the following questions:
- Is it different?
- Is it clearly understood?
- Is it concrete?
- Is it believable?
- Is it powerful?
When the answer to all of them is yes, we will have found a value proposition that will help us to succeed in the market.
Success stories
It's easier to understand what a good value proposition looks like with some successful examples:
- Netflix: Watch movies and series whenever and wherever you want.
- Instagram: Capture and share moments with people from all over the world.
- LinkedIn: It stands out in the professional field.
- Zadar: Offer quality clothing at an affordable price.
It is important to note that a value proposition it's not a slogan, for example, “because I'm worth it” of the Loreal brand, it's not a value proposition. Although in some cases, companies use their value proposition in their communication actions. Are you ready to succeed with your Value proposition?
