As we’ve said before at Barqar Marketing, bad marketers have no value proposition. But bad marketers can also have an incomplete or inaccurate value proposition. Your value proposition informs every marketing communication you generate and an unclear, unfocused proposition makes it impossible to create an effective outreach strategy.
There is no shortage of advice out there for businesses looking to develop a value proposition, which can make the exercise feel overwhelming. If you’re ready to tackle your own value proposition, here is a straightforward template that will help you create an effective statement.
Value Propositions, A Smart Recap
Before you begin, let’s recap: A value proposition is a clear and concise statement of the value your products and services deliver to your customers. It answers three key questions:
- Why do customers buy from you over your competitors?
- What problems do you solve for your customers?
- How do you make your customers’ lives better?
Conversely, a value proposition is NOT:
- Your tagline/slogan.
- Your mission statement.
- Your positioning message.
Remember, when thinking about value, you must think like a customer. Your customers may like your mission, they may think that your tagline is snappy, and they may like your sales team. When it comes time to write a check, however, they only care about the benefits they will get from using your products and services.
The 5-Step Approach To Writing Your Value Proposition
Creating a value proposition can be overwhelming, but this five-step outline simplifies the process and ensures you’re focusing on the most relevant points:
Define your product or service in layman’s terms. Avoid jargon whenever possible. For help, you can ask some of your best customers to describe your product or service to understand their perspective.
Step #2: Explain
Explain the benefits of your product or service succinctly.
Step #3: Translate
Translate those benefits into value as your customer would define it.
Step #4: Identify
Identify what makes your product or service unique and better than the competition.
Step #5: Create
Create your statement. It should be clear, concise, and play on value.
A Smart Value Proposition Template
Ready to start crafting your value proposition? Here’s a template to get you started.
Our Product/Service (Defined succinctly): _________________________
Our Customers (Defined Concisely) ______________________________
The Problem We Solve Better Than Anyone Else (From your customers’ perspective):
The Valuable Solution We Deliver (From your customers’ perspective):
The Way We Improve The Lives of Our Customers:
Once you’ve parsed out the relevant information, you are ready to craft your clear and concise statement.
Value Proposition Examples To Inspire You
If you’re still feeling a bit stuck, here are some examples to inspire you:
FreshBooks accounting software: Small biz accounting software designed for non-accountants.
Small business owners aren’t professional accountants and complex financial software can be overwhelming. The FreshBooks value lies in its ability to deliver a simple, user-friendly platform for non-accountants.
Uber rideshare: The easiest way around – one tap. Anywhere, any time – no reservations.
Finding a cab anywhere but New York City is a hassle. With Uber, customers can get picked up wherever they are and go anywhere they want with one tap of their smartphone.
Barqar Marketing: At Barqar Marketing, we help companies use smart marketing to drive more ROI.
Marketing in today’s competitive, digital environment is complex, time-consuming and confusing, and it is often difficult to prove return on investment. Barqar Marketing delivers smart solutions that drive measurable results.
Looking For More Smart Marketing Advice?
This advice will help you develop your value proposition, but the exercise can be challenging. If you’re looking for advice on how to craft a compelling value proposition, or if you need help with other aspects of your marketing strategy, contact the Smart Marketing experts at Barqar today. You can also sign up to watch our live Smart Marketing webinar series.