📝 Value Propositions: What They Are and How to Identify Yours
As a business owner, you know that standing out from your competitors is crucial to success. But how do you do that? One way is by identifying your business's value proposition. In this article, we'll explore what value propositions are, how to identify yours, and how they can help you connect more deeply with your customers and ultimately sell more.
🤔 What is a Value Proposition?
At its core, a value proposition is a promise you make to your customer post-purchase. You're essentially saying that this purchase will outperform their expectations and solve the problem that needs solving. But a value proposition is bigger than the product or service itself. It's about the benefits and value that the customer will experience as a direct result of making a purchase from your business.
🔍 Identifying Your Value Proposition
To identify your value proposition, you need to think from the perspective of the consumer. Focus on their desires, needs, and wants. Here are three important things to consider when coming up with your value proposition:
🧑🏭 Customer Jobs
Think of your product from the perspective of being hired to do a job. What job is your product being hired to do by the customer? By knowing the jobs to be done with clarity, you can equip yourself with the right messaging in your ads and on your website.
😩 Customer Pains
Think of your product as a solution to your customer's pain points. What problems, obstacles, or risks does your product help alleviate? By providing a solution to the customer's pain points, you can create a value proposition that resonates with them.
🎁 Customer Gains
Describe the specific benefits that your customer will gain when they purchase your product. Gains can include money saved, social gains, extra utility, and more. By pairing value propositions with specific needs and identifiable desires, you can motivate potential clients to become loyal customers.
💡 Examples of Strong Value Propositions
Let's take a look at some examples of businesses that have built their success on a rock-solid value proposition:
🧦 Unbound Merino
Unbound Merino is an e-commerce apparel brand that promises high-performance clothing. But their value proposition runs deeper than just a quality claim. They sell the larger value proposition of simplicity, less washing, more wearing, and a less complicated life.
📱 Pila Case
Pila Case is a brand that makes phone cases. But their value proposition is the promise they make to their customers: sustainability and becoming a part of the solution. While they're selling a physical good, what the customer is really buying is the sense of satisfaction of being a better global citizen.
📚 Intelligent Change
Intelligent Change provides tools to positively change your life. They sell a wide range of products, but the value proposition is personal development and growth. By selling the larger value proposition, they've created a loyal customer base.
📈 Turning Your Value Proposition into Reality
Now that you've identified your value proposition, it's time to turn it into a reality. Shopify offers a reliable, robust tool that will allow you to scale and grow your business. With a totally free, no-risk 14-day trial, you can see for yourself how Shopify can support you in building the business of your dreams.
🙋♀️ FAQ
What is a value proposition?
A value proposition is a promise you make to your customer post-purchase. It's about the benefits and value that the customer will experience as a direct result of making a purchase from your business.
How do I identify my value proposition?
To identify your value proposition, you need to think from the perspective of the consumer. Focus on their desires, needs, and wants. Consider their jobs, pains, and gains.
What are some examples of strong value propositions?
Unbound Merino promises high-performance clothing that simplifies your life. Pila Case promises sustainability and becoming a part of the solution. Intelligent Change provides tools for personal development and growth.
How do I turn my value proposition into reality?
Shopify offers a reliable, robust tool that will allow you to scale and grow your business. With a totally free, no-risk 14-day trial, you can see for yourself how Shopify can support you in building the business of your dreams.
🌐 Resources
- [Shopify](https://www.shopify.com/)
- [Value Proposition Design](https://www.strategyzer.com/books/value-proposition-design)
