Do You Have A Value Proposition?
Excellent article on the importance of creating, and stating, your value proposition.
“In previous reports, we have stressed the importance of a Unique Value Proposition (UVP), which is one of the most essential elements of a successful online business. A UVP is a succinct statement of the uniqueness of a business that sets it apart from all competitors. Without a UVP, a company risks becoming lost in a sea of similar businesses”.
This is especially important on the web, as all “locations” are effectively equal - they’re one click away. So how do you differentiate in a me-too world?
From that article, here’s a summary of the tips for discovering strong value propositions:
- Fill a need. Solve a problem for your potential customers.
- Identify a market and design products for that market.
- Articulate your value proposition in one sentence. If it takes too long to explain, it is too complicated and needs to be refined.
- Ask yourself why someone should buy from you and not from your competitors
- Simple ideas are the easiest to execute. ” This is a key issue with a value proposition. It has to be what you do and are. It can’t be just what you say or want”.
