Marketing and business guru Jill Konrath says
"A value proposition is a clear statement of the tangible results a customer gets from using your products or services. The more specific your value proposition is, the better."
She also gives some practical tips for how to write a strong value proposition.
Every company, large or small, needs a clear value proposition. You can't operate an effective business if you don't have goals, direct
ion, an understanding of who your target market is and what you are offering.
This is also closely tied to business branding, value adding and establishing a point of difference. Your value proposition needs to dovetail with your customers' needs and perception of what you are offering.
A Value Proposition Is Not
- a sales pitch
- an elevator pitch
- a mission statement
- a slogan
- a list of features
Customer Perception of Your Value Proposition
While you may have a written or verbal value proposition, a value proposition is also as much about what your customer perceives your value proposition to be.
What do you see as the benefits to you of dealing with a particular company? What it offers you is its value proposition.
Example: In the eye of the McDonald's consumer, McDonald's offers fast food, consistently prepared and packaged at a reasonable price. It does not pretend to be restaurant style food or offer restaurant ambience.
» 13 Ways To Lose A Good Customer from SmallBizMentor
Customers can be fickle. After all, like small business owners, they are usually rushed for time. It doesn't take much to lose a good customer. They expect you to deliver on your business value proposition - what your business says... [Read More]
Tracked on: October 22, 2007 9:05 AM | Permalink to Trackback