What is value proposition?

Do you want to know a fact that can make customers stick to your brand instead of choosing a competitor? The kind of products and services you offer them is a significant factor. For a company, your value proposition would determine whether a customer will stay on your site or choose to ignore it and leave for another site.

Let's get into a deeper understanding of the value proposition and how you can come up with one that would pull and make a customer stick with your brand as follows;

• What is a value proposition?
• Reasons why value proposition is important
• How to write a value proposition
• Value proposition types
• Conclusion

What is a value proposition?

A value proposition is a set of promises companies make to their customers that would benefit them from using their products and services. These promises are set and are to be delivered so that a company can manage to retain customers. If marketers strategically set these plans carefully, they would likely achieve their goal at the end of it all.

Reasons why value proposition is important

The value proposition is like the bread and butter a company needs since it gives customers reasons to choose them. All companies should develop value proposition strategies that help guide and focus on what's more important to them, and that's customers buying products off the table. With us are some of the reasons why you should consider value proposition in your business;

1. Clarity

Through a value position, customers can clearly get a better understanding of the products and services a company is trying to sell them. If their value proposition presentation is well entailed, they would most likely want to buy since they would be interested in them knowing their benefits.

2. Creates unique selling points

Through a well-entailed value proposition pitch deck, customers can find unique features and benefits certain products and services will do for them, and if it stands out, they will make a purchase right away.

3. Drive sales

Think about how coming up with a better value proposition that is functional will do to your company. The number of customers you will get on a daily basis would be increased since most of them would see a change, leading them to purchase more. 

4. Increased customer retention

When customers get the whole point of your value proposition, they will try out your products, and the better part is, the more they'd want to stay and become loyal customers.

5. Positive brand recognition

What comes after customers purchase your products and they are contented? In best reviews, customers would give out your brand's name and put in good words for your business. All these would be because you have the best products and services in town, and a job well done is hard to go unnoticed.

6. Establish credibility

Since your brand name is built based on your value proposition set with unique features and benefits to offer customers, their trust would be high in you. This would be a good thing for your business. 

How to write a value proposition

In order to write your value proposition as a company, you need to do research and know what picture you want your company to serve these customers. You can come up with a few value proposition business plans in mind and bring great ideas to the table to be focused on. Let's look at some of these ideas that we can put in mind;

1. Know your customer's pain points

Understanding what your customers need is a crucial step to take if you are in business. Get to know what they are missing out on, what businesses sell the same as you, and whatnot. This will guide you on what you must bring to your value proposition table.

2. Map a value proposition canvas

A value proposition canvas would help you come up with an excellent proposition value that focuses on the customers' needs. You can create the value proposition canvas template and let them focus on the customers' profile and your company, what benefits your customers will get, and whatnot, according to your research found.

3. Give feedback to the customers

After you are done with decision-making, go back and explain to the customers the importance and benefits they will get from your products and services. While at it also, don't forget to include your pricing list. By doing this, you will be giving them solutions in response to what they need and what the would pay them for.

4. Be clear and concise

Summarize your messages transparently and concisely so they get your message well. By being clear and concise, you would have offered them 

 a compelling explanation of what magic your business can do for them. 

Types of value propositions

There are many types of value prepositions in the market, and with us are a few that you can read about as follows;

1. Quality

Quality matters when it comes to customers. Ensure what you are giving them is of good quality so that they don't leave your store dissatisfied with your services and go to the competitors' side.

2. Customization

You can go for customized products and services for your customers. In business, you have to be unique to stand out, and with a good strategy in mind, you can get the solutions to what they are searching for.

3. Price 

Price is also an essential factor. Most customers will look at the cost of your products, and what they observe will determine whether they will remain with you or go to the competitors' side.

4. Brand

Your brand should align with what you are serving your customers with. Brands image is an important thing to look into, and if yours tells people otherwise, they will go for the next option, which will be to your competitors.

What are examples of value propositions?

A company that delivers to its customers is great, but to do so, you must come up with different goals and targets to achieve. With us are some examples of value propositions companies and what they do for their customers as follows;

1. HelloDuty-Lead to cash CRM

HelloDuty is a no-code automation CRM company that works towards giving businesses a better chance of services for them to connect well with their customers. We help businesses with tools they can use to understand their customers better through all the stages of the purchasing journey. Our CRM offers functionalities that collect, analyze, and interpret customer data records.

2. Jira

Reported as one of the best tools for agile teams, Jira works towards giving teams in departments such as website developers a space to plan, assign, track, and manage their work well. Through it, work has been able to be submitted at best efficiently regardless of where the area the teams are working from.

3. Glovo

Glovo is an on-demand courier service that works towards delivering orders and services to their mobile app customers. They work in partnership with other service companies to provide their customers with goods and services at their own estimated time on the application. This app is loved by many due to its convenience and quick way to get food, among other necessities, from the application.

4. Slack

Slack offers companies a platform whereby teams can communicate digitally through messaging securely without worries of being hacked. This communication has proved effective and primarily helpful to those who work remotely from different regions since they can all connect through one platform. The slack company helps organizations that don't work with their employees in the same country and has ever since been preferred by most.

Conclusion

Always remember to place your value proposition in the most visible place that customers can see and resonate with what you've placed there for them on your website. The amount of data put on the value proposition landing page should be compelling enough to attract more customers.

Your value proposition marketing ability is what will earn you customers and make them stay with you as a brand that's why you should always make it clear and straightforward. You can also create downloadable value proposition templates that potential customers can read at their own convenient time.