How to Define & Write a Business Value Proposition
Growth Marketing Firm, Sep 16, 2021 8:00:00 AM
Creating a value proposition is one of the most beneficial acts you can perform to clarify how to approach your marketing efforts for your business because it helps you clearly articulate why someone would want to buy from your company instead of from a competitor.
As well, it begins the journey from a dream to a successful company.
It describes your ideal customer, the problems you solve, and why you’re better than your competition.
It’s more than a product or service description, a mission statement, a slogan, or a tagline; it’s a vow of value that your ideal customer can expect you to strive to uphold.
If your business were an essay, your value proposition would be its thesis statement, and writing it involves a very similar process. If it’s been a minute since your last English class, writing a thesis statement involves first outlining what you want to say.
In drafting your value proposition, outline first a) what your business does, b) who it serves, and c) how it’s better than the alternatives. When you boil these things down, what’s left is a value proposition that can help steer everything from designing your website to hiring a team.
How to Write One
Technically, there are three main parts to a value proposition:
- a headline
- a subheadline
- a visual element
The headline reveals the benefit your customer receives from choosing to give you their money or time (remember, it’s not a product description. The focus word here is benefit). Your headline should first be clear and concise, but it can be creative and catchy if that style is part of your brand identification.
The subheadline should detail what your company offers, who it serves, and why. Basically, it should be an elaboration on your headline.
A visual element—i.e. a video, infographic, or image—can sometimes show your value proposition better than words alone can. Spend some time thinking about what image you’d like your business to convey then find or create visual imagery to serve as the visual element of your value proposition.
Old growth forests represent our value proposition at Growth. You can see that reflected everywhere on our website. It’s meaningful to our clients and our team.
Ask yourself these questions to drill your business down into its value proposition:
- What are my customer's main problems?
- What are the benefits my product or service offers?
- What makes these benefits valuable?
- Connect your product/service value to your buyer's problem.
- What makes my business the preferred provider of this value?
For each of these questions, we have some tips, and here they are:
What are my customer’s main problems?
Ask your customer service reps, marketing specialists, and salespeople. They have the most direct interactions with your customers and can offer specific information about what they ask about most (which reveals what they need the most).
What are the benefits my product or service offers?
List out every product or service you offer and describe its benefits. Each benefit should be clear, concise, and focused on a specific customer need.
What makes these benefits valuable?
Write one sentence that explains why each benefit matters to your customers. Use active nouns and verbs to describe this.
Connect your product/service value to your buyer's problem.
Combine your buyer’s problem with the value of your product or service to illuminate the purpose of your business (your value proposition).
Customer problem + Value of your product/service = Your value proposition
What makes my business the preferred provider of this value?
Determine value: Is there something specific about your customer service that your competition doesn’t offer? Do you offer something for free that your competitors charge for? These are points of differentiation from other businesses in your industry or market that make your value proposition special.
What Makes a GREAT Value Proposition?
- Clear, concise language that shares one main idea.
- Specific Outcomes that your customers can expect to receive from your product/service.
- Defined Point of Difference between you and your competitors so that your customers know what sets you apart.
Our team of whip-smart thinkers at Growth are passionate about helping you realize your business dreams. Contact us for a dreamy quote.