“Unique Value Proposition: A single, clear, and compelling message that states why you are different and worth buying. ~ Steve Blank
This statement summarizes why a customer should use your products or services. It appeals to their strongest decision making drives. Organizations lose opportunities for growth due to this lack of clarity of a compelling Value Proposition. There are two parts to a Value Proposition: 1) a promise of value that will be delivered, and 2) the belief that a customer will receive that value.
This is not a slogan like LG’s “Life’s Good.”
Here are a few examples:
“Remember everything.” Evernote
“Google Analytics tells you what happened, KISSmetrics tells you who did it.” KISSmetrics
What do you do when what you sell is not so unique?
List of Products/Services: what are the products and services that bring in revenue. If you are a nonprofit, your events, etc. are your products. If you are coaching, it is the billable hours and projects you specialize in bring in the revenue. There are those that have tangible and seemingly intangible offerings.
Cost of Doing Business: once we have established what you are selling, we need to understand what it costs to deliver the services. In order to establish the value of what you sell, we need to focus on the net profit.
What is your most profitable area of your business vs. what you sell the most: without going through the exercises we provide, you are missing out on opportunities. It is not uncommon to find businesses unaware of opportunities to capitalize on highly profitable services they didn’t know they owned.
Recent Comments