Following on from my earlier blog on the subject of value propositions, here I take a look at what makes a good value proposition, remember, your value proposition is the number one thing that determines whether people will bother reading more about your products or engaging with your business.
How to craft your ideal value proposition
A key role for the value proposition is to set you apart from the competition. Most people check out 4-5 different options / service providers before they decide. You want your offering to stand out in this important research phase.
So how do you make your offer unique? Often it’s hard to spot anything unique about your offering. It requires deep self-reflection and discussion.
If you can’t find anything, you better create something. Of course the unique part needs to be something customers actually care about. No point being unique for the sake of being unique (“the ball bearings inside our bicycles are blue”).
The key thing to remember is that you don’t need to be unique in the whole world, just in the customer’s mind. The closing of a sale takes place in a customer’s mind, not out in the marketplace among the competition.
Boosters for your value proposition
Sometimes it’s the little things that tip the decision in your favour. If all major things are pretty much the same between your and your competitors’ offer, you can win by offering small value-adds. I call them boosters.
These things work well against competitors who do not offer them.
Boosters can be things like:
- Fast / free packaging and delivery
- Free setup / installation
- No setup fee
- No long-term contract, cancel any time
- License for multiple computers (vs 1)
- Money-back guarantee
- A discounted price, for first order
You get the idea. Think what small things you could add that wouldn’t cost you much, but could be attractive to some buyers.
Make sure the booster is visible with the rest of the value proposition.
Good value proposition examples
It’s tough to find perfect value proposition examples. Probably because it’s hard to create a great one. I find flaws or room for improvement with most value propositions I came across.
I’m also fully aware that I’m not the ideal customer for many of the examples shown below, and all my critique is, is an educated hypothesis (that should be tested).
Here are some good examples along with my comments:
- It’s clear what it is and for whom
- Specific benefit oriented sub-headline
- Relevant visuals
- Smooth transition into features and benefits
- Very clear headline
- Benefit and action oriented sub-headline
- Key benefits clearly listed
- Relevant image
What makes a good value proposition:
Clarity! It’s easy to understand.
It communicates the concrete results a customer will get from purchasing and using your products and/or services.
It says how it’s different or better than the competitor’s offer.
It avoids hype (like ‘never seen before amazing miracle product’), superlatives (‘best’) and business jargon (‘value-added interactions’).
It can be read and understood in about 5 seconds.
For help in designing your value proposition, or a review of your current value proposition simply fill in the contact form below: