In our last blog, we discussed the importance of writing and implementing mission and vision statements that fuel your company and strengthen employee loyalty. In the same breath, we want to add that creating and implementing value propositions for your company will help reinforce your foundation and guide you in the direction you want to go. Your value propositions must have a rhyme and reason to them, or else they’re just words on a piece of paper. Keep reading to learn what value propositions are, their purpose, and how to create them.
Value Proposition Definition
Value props are short, declarative sentences or phrases that explain how your services benefit customers and solve their problems. Let’s look at a few companies that have clear, concise value propositions:
- Evernote – “Meet Evernote, your anywhere access notepad. Capture, organize, and share notes from anywhere. Your best ideas are always with you and always in sync.”
- Less Accounting – “Accounting software for business owners who dislike bookkeeping.”
- Novowatch – “Timepieces Handmade in Alberta From Repurposed Pieces of History.”
- Stripe – “The New Standard in Online Payments. Stripe is the best software platform for running an internet business. We handle billions of dollars every year for forward thinking-businesses around the world.”
Value Proposition Purpose
In simple terms, a value proposition answers the “why” question. Why should your customer choose you over a competitor? What makes you different? This will inevitably determine whether they choose to shop with you or your competitor.
Value Proposition Creation
How do you create such important sentences, making sure that they’re well-written and encompass everything you stand for? Overall, a good value proposition will:
- Be accessible to your potential customer
- Be concise and to the point
- Be easy to understand
- Encompass everything you do/offer
- Tell the viewer how your product resolves their problem
Why do we care so much about your value propositions? Because your value propositions, along with your mission and vision statements, contribute to your overall brand. The moment a potential customer views your website, she ultimately sees your brand. It is intertwined through every color, line, curve, and letter on your website.
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