What's a Value Proposition? It's What Your Business Does ...

Examples of strong value propositions · BustedTees uses “BustedTees brings you the highest quality graphic tees on the net” as its homepage value ... Emailaddress Password Yourstorename Createyourstore OpensinanewwindowOpensanexternalsiteOpensanexternalsiteinanewwindow Doyouwanttocreateyourownonlinestore? Yes No Home ShopifyBlog What'saValueProposition?It'sWhatYourBusinessDoesBetterThanAnyoneElse Whydoyourcustomersbuyfromyou?Whatmotivatespeopletochooseyou,tochooseyourproductsoverthehundredsofalternatives?Whatmakesyourcompany,andyourproducts,betterthantherest? Theanswer:yourvalueproposition. Ifyoucanperfectyourvalueproposition,youcanincreaseyourconversionrateandimproveyourmarketingstrategiesacrossmanychannels.Learningtopresentthevalueyourcompanyandproductsdeliverinacompellingwayisoneofthemosthigh-value,wide-reachingmarketingactivities. Whatisavalueproposition? Avaluepropositionisthevalueyoupromisetodelivertoyourcustomerspostpurchase.It’sultimatelywhatmakesyourproductattractivetoyouridealcustomer.A compellingvaluepropositionmeetsthreecriteria: It’sspecific. Whatarethespecificbenefits yourtargetcustomerwillreceive? It’spain-focused. Howwillyourproductfixthecustomer’sproblemorimprove theirlife? It’sexclusive. Howisitbothdesirableandexclusive?Howwelldoesithighlightyourcompetitiveadvantageandsetyouapartfromcompetitors? Don’tconfusebrandslogans,catchphrases,orevenapositioningstatementwithavaluepropositionas they'redifferentthings. Here’savisualizationthatwillhelpyouavoidthattrap. Yourvaluepropositionshouldfocusonthesuperpowers thatpotentialcustomersget,nottheproduct.Rarelyisyourvaluepropositiontheproductitselforitsfeatures.Instead,it’sthewaythebrandorproductfixesameaningfulpainpoint,improvesthelivesofyourtargetaudience,andthewayitmakesthemfeel(liketheyhavesuperpowers,forexample). Avaluepropositionshouldbefrontandcenterwhenavisitorarrivesonyoursite.Althoughit’softenfoundabovethefoldonthehomepage,youshouldbeawareofothercommonentrancepoints(e.g.,alandingpage,categorypages,blogposts,andproductpages). Evenifyoumanagetocreateaneffective valueproposition,itwon’tdrivesalesifit’stuckedawayinadustycornerofyourwebsiteorabsentonhighpurchaseintentpages. Howtowriteauniquevalueproposition So,whatgoesintoagoodvalueproposition,andwhereshouldyoubegin? 1.Gathervoice ofcustomercopy Thebestvaluepropositionsusevoiceofcustomercopy.Thatis,theyusetheexactwordsofyourcurrentcustomerstohookyourfuturecustomers. Forexample,iftheywereinterviewedforacasestudy,howwouldyourtargetcustomersdescribeyourproduct?Howdoesitimprovetheirlives?Howdotheydescribeyourcompany?Whydotheychoosetoassociatewithyourbrand? Interviewyourcustomersorsendoutasurveytobetterunderstandhowtheyspeakaboutyou,bothtootherpeopleandtothemselves.Payattentiontocommonwordsandphrasestheyuse.Yourvisitorsshouldseethemselvesinyourvalueproposition.Thelanguageyouuseplaysabigroleinshapingtheirperspective. 2.Emphasizeclaritybeforecreativity Aboveall,youmustensureyourvaluepropositionisclear.Soundsobvious,right?Yourvaluepropositionneedstoservemanypurposes,soachievingcrystallineclaritycanbequitedifficult. Whenevaluatingyourdraft,ensureitanswersthefollowingquestions: Whatproductareyouselling? Whoshouldbuyyourproduct? Howwillbuyingyourproductimprovethevisitoror theirlife? Whyshouldthevisitorbuyfromyouandnotyourcompetitors? Whenwillthevaluebedelivered? Yourvaluepropositionshouldberelativelyshort—twoorthreeshortsentences,maximum.Everywordshouldimproveclarityormakeyour mainsellingpointmorecompelling,otherwiseitneedstobecut. 3.Focusonbenefits,nothype Howmany“World’sBestCoffee”signswouldyouseeinstorewindowswalkingdownjustonebusyNewYorkCitystreet?Dozens.Eachsignyouencounterwouldmakeitalittlemoredifficulttobelievethepreviousone. Hype,whichcancomeintheformofsuperlatives(“best”)andexaggerations(“world’sbest”),canbedangerousthatway.Instead,focusondistinctbenefitsandtheconcretevalueyourproductdelivers. Ifyouneedtousehypetosellyourproducts,it’sasignthatyourvaluepropositionisnotwelldefined.Or,perhaps,eventhatyourproductisnotasvaluableasyouthink. Examplesof strongvaluepropositions Thebestwaytogetafeelforhowvaluepropositionsworkandhowtogetthemrightistolookatsomestrongexamples. 1.BustedTees BustedTeesuses“BustedTeesbringsyouthehighestqualitygraphicteesonthenet”as itshomepagevalueproposition. Inthiscase, it's bettingonthequalityof itsproductionmaterialsanddesigns.Thevaluepropositionissmallbutcenteredatthetopofthepage. Thesiteappearstoonlydisplaythevaluepropositiontofirst-timevisitors,whoaremorelikelytobeunfamiliar. Notehowthevaluepropositionisfollowedquicklybyarelevantcalltoaction.“Hey,wehavehighqualitygraphictees.Wanttoshopourbestsellinggraphictees?”Ifyourvaluepropositiondoesitsjob,itmotivatesandinspiresaction,somakeiteasyforvisitorstotakethataction. 2.NovoWatch NovoWatchpromisestodeliver“TimepieceshandmadeinAlbertafromrepurposedpiecesofhistory.” Instantly,youknowthedifferencebetweenawatchfromNovoWatchand oneofits competitors.Thevalueisuniqueandundeniablydifferent. Whenyouarriveonthesite,thevaluepropositionfillstheentirepage,butyou’llalsofindthevaluepropositionreiteratedontheproductpages. Thecontinuityfromthehomepagetotheproductpageisimmediatelyevident.Phraseslike“manuallywoundtimepiece”and“132yearoldtraintrack”reinforcethevalueproposition,creatingaclearmessagematch. 3.StudioNeat StudioNeatcreatessimpleproductsthatsolvecommon,everydayproblems.Thatvaluepropositionandbrandethosiscommunicatedthroughout,eventhoughit’snotexplicitlystatedonthehomepage. Simpleproductsthatdeliversimplebutdesirablevalue.“Tripodmountforsmartphones,”“WooddocksforApplestuff,”“Wide-gripstylus,”“Makeandstoresimplesyrup,”etc. Thesamethemeiscontinuedonproductpages. Noexaggerations,nocomplexproductdetails.“Onyournightstandoratyourdesk,it’snicetohaveadesignatedspottochargeyourdevices.”Tellmethatsentencedoesn’treadlikeacustomerwroteithimself. 4importanttypesofvaluepropositions Inecommerce,yourvaluepropositionismorethanjustthebig,boldheadingonyourhomepage.Therearefourdistincttypesofvaluepropositionsyoushouldknowaboutwhenoptimizingyourstore. 1.Yourcompanyvalueproposition Didyouknowthere’sadifferencebetweenthevaluepropositionofyourcompanyandproducts? TakeStudioNeatforexample.Thevaluepropositionfor itscompanywouldbesomethinglikethis:"Simpleproductsthatsolvesimpleproblems."Thevaluepropositionfor itsMaterialDockis:"It’snicetohaveadesignatedspottochargeyourdevices."Now,youcanseeandfeelthecompanyvaluepropositionintheproductvalueproposition,butit’simportanttoseethedistinction. Further,inthisarticle,we’retalkingaboutyourexternalvaluepropositions.Itallstartswithastrongbrandethos,whichisthewayyoutalkaboutandthinkaboutyourbrand,bothinternallyandexternally.Forexample,StudioNeat’sbrandethosmightbesomethinglikethis:“Subtractuntilit’sperfect.”Youcanseehowthatethostricklesdownthrougheverything,includingthecompanyvaluepropositionandtheproductvaluepropositions. 2.Yourhomepagevalueproposition Thisisthetypeofvaluepropositionyou’remostfamiliarwith.It’sthebig,boldheadingonyourhomepage.JustthinkbacktotheNovoWatchvaluepropositionexampleabove. Yourhomepagevaluepropositionwilldependonthetypeofstoreyourun.Forexample,ifyouhaveasmallnumberofproducts,yourhomepagevaluepropositionmightbemoreproduct-focused.Ifyouhaveawiderangeofproducts,yourhomepagevaluepropositionmightbemorecompany-orbrand-focused. NovoWatch’shomepagevaluepropositionisproduct-focused,forexample: TimepieceshandmadeinAlbertafromrepurposedpiecesofhistory. Novohas arelativelysmallnumberofproductsand isspecificallyfocusedonwatches.If itweretointroducealineofhandcraftedpensmadefrompiecesofhistoryandalineofhandcraftedwalletsmadefrompiecesofhistory,howmighttheirhomepagevaluepropositionneedtochange? 3.Yourcategoryvaluepropositions Don’toverlooktheneedforavaluepropositiononyourcategorypages.Why?Justlookatthesearchengineresultspage(SERP)for“women’sjeans.” First,you’llnoticethatallofthesepagesarecategorypages. Second,manyofthepagedescriptionsarevaluepropositionsindisguise.Abercrombie&Fitchhasvariety,theperfectfitforeveryone.Bootlegger’sblackjeanswon’tfade.OldNavyjeanswillmakeyoulookpolished,evenonacasualday. WhenyouclickthroughtoAbercrombie&Fitch,forexample,you’llseethevaluepropositionreiteratedintheon-sitecopy. Highrise,lowrise,avarietyofwashes,“Fitforyourstory.”Allofthesetriggershelpreinforcethevalueproposition.Asyoucansee,though,it’sstillquiteuncommontofindaclearandsuccinctvaluepropositiononacategorypage. Withsomuchcompetitionamongcategorypages,especiallyonSERPs,that’sahugemissedopportunitythatyoucanstepupandcapitalizeon.Askyourselfwhateachcategoryofproductsonyoursitepromisesthat’sspecific,pain-focused,andexclusive. 4.Yourproductvaluepropositions Aproductvaluepropositiongoes,youguessedit,onyourproductpage.Eachproductwithineachcategoryneedsaspecificvalueproposition.ThinkbacktotheNeatStudioMaterialDockexampleabove. Here’sanothergreatproductvaluepropositionexamplefromStudioNeat. AnyonewhohasanAppleTVknowsthatlosingthattinyremoteisacommonoccurrence.Insteadofhavingtotearthecouchapartacoupletimesaday,buyStudioNeat’sAppleTVRemoteStand.“Youknowyou’regoingtoloseit.Youwon’tifyoubuythis.” Simple,right?Perfect,becausethat’sStudioNeat’scompanyvalueproposition. Bynow,you’restartingtoseehowthevaluepropositionstrickleintoandinfluenceoneanother.Startwiththecompanyvalueproposition,thenthehomepagevalueproposition,thencategoryvaluepropositions,thenproductvaluepropositions. Atwo-steptemplateforcreatinga valueproposition Nowit’samatterofcombiningeverythingyou’velearnedaboutvaluepropositionstocraftoneofyourown.There’snoreasontocomplicatethematter;theprocesscanbebrokendownintojusttwosteps: Identifyingyourvalueproposition. Communicatingyourvalueproposition. Thequestionbecomes,howdoyougetbothstepsright? Step1:Identifyingyourvalueproposition Beforeyoudigintoidentifyingyourvalueproposition,it’simportanttoframeyourthinkingproperly. Allgreatvaluepropositionsstartwithonequestion: WhatdoIdobetterthananyoneelse? Maybeit’syourcustomerservice,maybeit’syourproductdesign,maybeit’smaterialquality,maybeit’s price.Itcanbeanythingcustomersfindvaluable. Awordofcaution,though:yourcompanyandproductsaremorecomparablethanyouthink.Yourvisitorswillcertainlybecomparingyoutoyourcompetitors,sobeatthemtothepunch.Seehowyourvaluepropositionstacksupagainstthepromisesofyourtopcompetitors.Whatwillsetyouapartinthemindsofyourvisitors? Notethatsmallvalueslikefreeshipping,money-backguaranteesandsame-daydeliverycanbeusefulconversiontools,butaresecondarytoyouruniquesellingproposition. Ifyouranswerto“WhatdoIdobetterthananyoneelse?”is“freeshipping,”you’renotdiggingdeepenough.That’ssomethinganystorecancopyandpaste,meaningit’snotadefensiblevalueproposition.Often,identifyingyourvaluepropositionrequiresquiteabitofthoughtandresearch(customerinterviews,forexample). Please,promotethosefreepost-purchasegiftsandshippingguaranteesalongsideyourvalueproposition.Youwilllikelycapturepeopleonthefence.Butthat’sjusta bandageifthecorevaluepropositionisn’tuniqueorcompelling. Step2:Communicatingyourvalueproposition Distillwhatyoudobetterthananyoneelseintoasinglesentenceanddisplayitprominently.Youwanttoensurethisiswhatgrabsattentionfirst. Justlikeanarticleheadline,manypeoplewillreadthesinglesentencevaluepropositionandmoveon.Iftheylikeit,theymightreadabriefelaborationorjustcontinueontothenextstep.Iftheydon’tlikeit,they’lloftenjustgoaheadandleave. That’salotofpressureonjustonesentence,soyouwanttomakesureyou’regettingitright.Thatis,youwanttomakesureit’sclearandrelevant. It’sausefulexercisetospendthetimecomingupwith10–15variationsofyourinitialvalueproposition. Now,youwanttoknowwhichoneisthemostunquestionablyclear.Asimplefive-secondtest canhelpyouwiththat.Inafive-secondtest,peopleseeyoursite(withyourvalueproposition)forfivesecondsandthenanswerquestionsaboutwhattheysaw.Whatdotheyremember?Whatdotheythinkyoursitedoes?Whatdotheythinkyourproductdoes? Ifyoufindpeoplecan’tanswerthequestionscorrectly,youhaveaclarityissue.Acommonclarityproblem?Hidingthevalue.Here’sanexamplefromBestBuy: “TV&HomeTheatre”isprioritizedvisuallyhere,butthevaluepropositionishiddenbelow. Here’sthesameproblemonTiffany&Co.: AndonTopshop: Yougettheidea.Makesureyourvaluepropositionisasclearaspossible.Thefirststep?Visuallyprioritizingyourvalueproposition. The five-secondtest isjustonewaytotestyourvalueproposition.Youcanalsorunon-siteA/Bteststofigureoutwhichofyour10–15variationsismosteffective.Shortofthat,runningpaidFacebookadstotestthepersuasionpowerofeachofthevariationsisanotheroption,especiallyifyouhavealowtrafficsite. Valuepropositionshelpyouperfect yourpromise Yourvaluepropositionisapromisetoyourfuturecustomers.Ifthatpromiseisspecific,pain-focusedandexclusive,youwillturnfuturecustomersintopayingcustomers. Everyentrepreneurbelieves theircompanyandproductsarevaluable.That’swhyit’ssoeasytooverlookthewaythatvalueiscommunicatedtostrangers. Spendthetimetoperfectyourpromise.It’snotjustabrandingexercise,it’samarketingexercisethatwillpayoffoverandoverandoveragain. Readytocreateyouronlinestore?Startyourfree14-daytrialofShopify—nocreditcardrequired! EmailaddressStartfreetrial Abouttheauthor ShanelleMullin ShanelleMullinworksongrowth,experimentation,andconversionrateoptimizationatShopify. Email Pinterest Facebook Twitter LinkedIn Topics: Brand Join446,005entrepreneurswhoalreadyhaveaheadstart.Getfreeonlinemarketingtipsandresourcesdelivereddirectlytoyourinbox.EmailaddressSubscribe Nocharge.Unsubscribeanytime. Thanksforsubscribing. You’llstartreceivingfreetipsandresourcessoon.Inthemeantime,startbuildingyourstorewithafree14-daytrialofShopify. Searcharticles Search Join446,005entrepreneurswhoalreadyhaveaheadstart.Getfreeonlinemarketingtipsandresourcesdelivereddirectlytoyourinbox.EmailaddressSubscribe Nocharge.Unsubscribeanytime. Thanksforsubscribing. You’llstartreceivingfreetipsandresourcessoon.Inthemeantime,startbuildingyourstorewithafree14-daytrialofShopify. QuickstartGuides TrendingProducts Startabusinesssellingin-demandproducts BusinessIdeas Findanicheorbusinessideaandgetstarted StartanEcommerceBusiness Practicalstepsforstartingabusinessfromscratch StartaT-ShirtBusiness Everythingyouneedtoknowaboutsellingt-shirts WhatisPrintonDemand? Sellcustomizedproductswithoutholdinginventory WhatisDropshipping? Learnaboutthedropshippingindustryandhowitworks ShopifyStoreExamples Getinspiredandlaunchyourownbusiness Popular HowtoStartanOnlineStore(WeBuildOneStep-by-Step) Print-On-DemandServicesforSellingYourOwnCustomProducts NeedaBusinessName?TryTheseFreeToolsandTips HomeBusinessIdeasYouCanStartontheSide ThingstoMakeandSell:TheBusinessofDIY HowtoFindaManufacturerorSupplierforYourProductIdea HowtoStartanEcommerceBusiness(ACompleteBlueprint) T-ShirtTemplatesandMockupstoJumpstartYourClothingLine MakingMoneyonInstagram(WhetherYouHave1Kor100KFollowers) NeedTraffic?Here'sHowtoGetVisitorstoaNewWebsite HowMuchDoesitCosttoStartaBusiness?(ShopifyResearch) Viewmorepopularblogposts  Latest HowThisPlantBasedRamenBrandBuiltACommunityofThousandsPriortoLaunching HowtoMakeandSellMerchonTikTok 10StepstoCreateaNewsletterThatGrowsYourBusiness HowaMicrobiomeCompanyRunsa7-FigureAmbassadorProgram EntrepreneurshipforEveryone:MarthaStewartSharesHerBlueprintforSuccess BusinessProposals:HowtoWriteOneandWheretoFindTemplatesandExamples The65BestMarketingToolsforOnlineBusinesses Howan8-FigureBusinessBuildsitsTeamsandCulture TheFoundationforChange:HowtoWriteYourNonprofitBusinessPlan HowtoBuildaSalesChannelStrategyAroundYourOnlineStoreWithoutLosingCustomers Doyouwanttocreateyourownonlinestore? Yes Startyour14-dayfreetrialtoday! EmailaddressStartfreetrialTryShopifyfreefor14days,nocreditcard required.Byenteringyouremail,youagreetoreceivemarketingemails from Shopify.