Getting Illustrative – Determining Your Company’s Value Proposition

I’ve been talking (and asking) about creating a value propositions for small businesses. What is a value proposition you might ask? A brief statement of benefit that summarizes why a customer should purchase a product or service. Basically, it explains the customer what will they will get exchange for their dollar(s) and your company’s unique identifiers from the competition.

I thought it would be interesting to represent questions that should be considered when creating your company’s value proposition in a handy graphic this week.

value proposition

What’s in the box? Your company’s value proposition should answer as many of these as possible.

It can be a bit of a challenge (almost like a mad-lib) to distill the answers down into a couple of sentences. White board, Trello board, or even traditional post-its can be useful in defining the concepts and arranging their order.

Once you’ve put the sentences together, which may take some time and revision to polish up, test them out. Try your value proposition out on various social media channels, email it around to you advisory groups and create some discussion around if you’re headed in a good direction with your proposition. Tor has some helpful (and humorous) advice for testing.

As your company moves forward and the product evolves in the marketplace, it makes sense to revisit your value proposition in scheduled intervals as it should reflect your product’s strengths.

I’m searching for great examples of value propositions that are out there today. Can be in any vertical. Seen any recently that have caught your eye? Post them below!

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