You don’t get a second chance to make a first impression. The lessor known your company, the sharper your Value Proposition needs to be.
A crisp Value Proposition is essential for any business seeking to clearly communicate to customers, why they are different, better, and worth purchasing from.
The Value Proposition should be able to be read and understood in about five seconds by customers in your target market.
Without wide-spread brand recognition, it is even more important for business owners and leaders to state clearly why someone should pay attention to you – in the elevator, at a business conference or on your website.
Your value proposition should be as unique as your fingerprint.
How to understand your unique Value Proposition
Your growth strategy for prevailing business conditions by Jasia Fabig (Head of Practice Development, NAB Advice)
What is a Value Proposition?
It is NOT a slogan. It is a promise of value that would potentially be delivered to customers. It is the primary reason a prospect should consider your business.
A Value Proposition is a short statement that has:
- Relevance: explains how your product/offering solves customers problems or improves their situation,
- Value: delivers specific benefits against their needs,
- Difference: informs the customer why they should choose you over the competition.
A crisp value proposition statement should enable you to own and dominate your chosen niche. In its absence, you risk trying to be all things to everyone – diluting and sending mixed messages on what you do well. This causes your prospective customers to either hesitate in choosing you or worse, bypass you completely.