A value proposition is a crucial part of the business model. Best value propositions determined the success of the biggest companies.
But it’s not just about having a unique selling proposition. It’s about how you communicate it to your target customer.
In today’s article, we tell you exactly how to write a value proposition that tackles the pain points of your target audience and the key benefits you need to succeed in business.
What is a value proposition?
A value proposition is a short statement that promises a value of a product or a service.
However, it’s more than just a product or service description — it’s the specific solution your business provides to a customer that competitors can’t offer.
It communicates the most direct benefit that customers receive by choosing a product. Every value proposition should speak to a customer’s challenge or problem and make a case for your company as the problem-solver.
A compelling value proposition may highlight what sets you apart from the competition. Still, more than anything, it should always focus on how your customers perceive your value.
Check out How Can I Practice Copywriting?
Why is a great value proposition important?
Why should you bother learning how to construct a value proposition if you’re not going to use it? It’s like putting up the bricks of a building. You may not be aware of the foundation, but everything you see — and the long-term safety and stability of your home — is built on top of it.
When consumers decide if they need what you’re offering, the first thing they look at is your value proposition. There’s no reason for them to stay on your site if your target audience doesn’t fully understand the benefits that you can offer them.
The elements of a good value proposition
Value propositions are short and compact, and they should just consist of the essential information.
The three most essential parts of a value proposition will help you plan out your value proposition statement.
The benefit that a consumer will receive from purchasing your product is summed up in the value proposition’s headline.
The headline should be creative and appealing, but it must also be clear and concise first and foremost.
Subheadline or Paragraph
The final component of the headline is to provide a brief explanation of your company’s services, who it serves, and why.
You should expand on the information in the headline in this section.
In certain situations, a video, infographic, or photograph may do a better job of conveying your value proposition than words alone can.
Use these visual components to accent your message to hold your audience’s attention.
Considering these three elements, you’ll be able to make your own after you build a value proposition canvas.
Here you can learn the Difference Between B2B and B2C Copywriting.
Value proposition canvas
Value proposition canvas is a model that consists of two components: product and customer.
These components should answer questions about what the product offers and what the customer wants.
To complete this canvas, you’ll ask yourself and the focus group series of questions regarding your product’s benefits and what the product does.
Imagine how it makes someone’s life easier or less complicated when you’re creating the description of the product’s benefits.
Consider the features and overall experience from that perspective: How do the product’s characteristics improve a user’s life? What does using the product make a consumer feel?
Other questions you should ask at this stage of value proposition canvas:
- What does it do?
- How does it work?
- What features does it have?
- What does using the product feel like?
The second part of the value proposition canvas is about the customer profile. This part should include information about the customer’s wants (emotional drivers), needs (rational motivators), and fears (undesired outcomes).
Remember that even when consumers make purchases or investments on behalf of a company, they can still be guided by emotions.
Questions you can include in the customer profile part:
- What emotions would drive you to purchase this?
- What are the rational reasons to buy?
- Why would a person not want to switch to your product?
- How is the customer currently dealing with the problem this product solves?
After you’ve completed the value proposition canvas, the next step will be to determine how your value proposition fits into the customer profile.
To do this, you can use a ranking method that ranks items and services based on how well they meet the customer profile.
Value proposition examples
Airbnb targets two separate groups of customers: people who need a place to stay and people who want to rent a space.
In the beginning, Airbnb offered affordable accommodation worldwide in locations where locals usually lived.
The company’s mindset enhanced the importance of connecting with people, making new friends, and getting to know the local communities.
In their own words:
Later on, they started to offer different activities “that make it possible for guests to experience the world in a more authentic, connected way.”
Airbnb was initially marketed as a less expensive alternative to hotel stays. Still, it has grown into an experience-driven, mainstream institution with “Airbnb Plus,” a premium branch called “Airbnb Premium,” and its value proposition.
Uber, similar to Airbnb, connects offer (drivers) and demand (passengers) to offer cheaper, convenient transportation and an additional source of income.
Customers can use the app 24/7, and their route is tracked. Moreover, the rides are usually much cheaper than taxis, and you can see how much the ride costs right away.
The drivers have another source of income that doesn’t require experience, and Uber offers flexible working hours and easy access to passengers.
Their slogan “Tap a button, get a ride” has become much more. Uber offers ridesharing and carpooling, meal delivery and freight, electric bikes and scooters, self-driving cars, and urban aviation.
See here How Much Does a Copywriter Make.
Slack is a collaboration tool for teams. In their unique value proposition, they say: “Slack is a place where your team comes together to collaborate, the right people can find important information, and your tools pipe in information when and where you need it.”
In their value proposition statement, Slack presents the most prominent benefits to its product.
The unique benefit of Slack is that you can jump into a conversation (on a “channel”) and review previous messages.
It solves the problem of onboarding new employees. They can read conversations that occurred before they joined the project or company.
Moreover, it allows organizations to add tools essential to their needs.
Here you can learn how to write better and faster
How to write a value proposition?
To sum up the above information, here are several questions that will point you in the direction of an effective value proposition:
- What is your customer’s main problem?
- What are the benefits your product offers?
- What makes these benefits valuable?
- How does your value connect to your buyer’s problem?
- Why should you be the one to provide this value?
First, you should start with research. This part of creating the value proposition can be improved by speaking with different team members.
Second, list the benefits of your product. Again, the benefit should be concise and focused on a single customer need.
Next, add the paragraph sentence that explains why this benefit matters to the customer.
Next, connect the buyer’s problem to the elements that make your product or service valuable.
Finally, make your value proposition unique. You should differentiate your value proposition from competitors while focusing on the buyer’s needs.
Learn How To Make Money As a Copywriter here.
So, you’ve been through the process of writing a value proposition. How do you know if it’s any good?
The best way to judge your work is by examining how well it meets your customer profile and asking yourself these questions: What are all the benefits that my product offers? How does my value connect with my customer’s problems? Why should I be the one providing this value over anyone else on the market today?
Answering those three questions effectively can help you write a killer value proposition.
We hope you found our tips helpful, and good luck writing your value proposition!