Value Proposition
A value proposition is a clear statement that explains how a product, service, or company benefits customers, why it is unique or better than alternatives, and how it solves customers’ problems or improves their situation. It is often used as a key component in marketing and sales strategies to attract and retain customers by clearly communicating the distinct advantages and value that a business offers.
A well-crafted value proposition typically answers the following questions:
- What product or service is being offered?
- Who is the target customer?
- What specific problem or need does the product or service address?
- Why is this product or service the best option available to the customer?
For example, a value proposition for a cloud storage service might be: “Secure and easy-to-use cloud storage that lets you access your files anytime, anywhere, with unbeatable customer support.”
In essence, a value proposition is a promise of value to be delivered and a reason why a customer should choose a particular product or service over competitors.
Here are some additional resources for a deeper dive:
Value Proposition Design: How to Create Products and Services Customers Want
Value Proposition: Positioning for Success
I Power Seeds
Here are our takeaways and thoughts - pause and reflect, then nourish and grow!
Generally speaking, customers are external. You can take a value proposition and apply it to your internal customers – your team members, employees, etc.
