Sunday, October 23rd, 2016
Every company wants to sell their products to a target market in a profitable way. This target market has different options available to meet their needs: our competitors and our company.
We can believe that our company is the best option for them, even we can really be the best option for them, but the point is that it’s the target market who has to believe that. All that matters is how our customers see our company, not how we see our company.
Why should our target market buy our products? Why are they going to believe that our product is the best option available for them? Our value proposition must answer these questions, in a compelling way.
We have to establish a unique value proposition which clearly differentiates our product from competitors.
A value proposition is a short statement that clearly communicates the benefits that our potential client gets by using our product, service or idea.
It needs to be very specific and it must focus closely on what our customer really wants and values. Our customer wants to solve problems, to improve on existing solutions, to have a better life, build a better business or do more, better, faster, and so on.
A good value proposition can be read and understood in about 5 seconds. A few examples:
- Google: Find What You Want Quicker
- Amazon: Low price, wide selection with added convenience anytime, anywhere
- Evernote: remember everything
- Square: Start accepting credit cards today
Summing-up: Our unique value proposition is what our company, product and services provide to our market different than our competitors. The value proposition is the reason why our customers choose us, it’s the reason to be profitable.
These Notes have been taken from: