Value Proposition: What Are You Offering?
Know your target customer and build for them.
Your target customer has needs.
Once you understand those needs you can cater to them.
A value proposition is what you offer your customer.
Value Proposition: Communicating Your Offering
As a brand you are competing for attention.
If a customer has a need, they have a mental map of possible solutions.
If your brand is not differentiated enough, it competes directly with other brands.
Your value proposition is a message you are sending to the customer by saying: "Our X solves your Y."
Unique Offering = Differentiation
A value proposition is also referred to as a unique selling proposition - a USP.
How can you communicate your brand's value in a unique way?
- Customer Need: I want to work out. I might need running shoes.
- Value Proposition (weak): Buy these running shoes.
- Value Proposition (strong): We enable you to become the best athlete you can be. Here are our running shoes - designed to the exact specifications of the world's best athletes. Just do it.
Which one would you buy?
Bottomline: Value Propositions Service the Customer Need
The best value propositions are the best answer to the customer's specific needs.
Your brand should be a painkiller and not a vitamin.
This post is an excerpt from my online course Fundamentals of Brand Strategy where you learn how to build successful brands.
The self-paced online course contains 5 hours of video material and teaches you how to use the Brand Pyramid.Learn the Fundamentals of Brand Strategy 🧰
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Short Excerpts from the Course
These posts are short snippets of the course curriculum 👇
- A Pragmatic Look at Branding: What Is a Brand?
- Touchpoints and Brand Strategy: How do We Build Associations?
- Positioning and Differentiation: How to Stand Out as a Brand?
- Brand Vision: What Is the World That Could Be?
- Brand Purpose: Why Bother?
- Brand Promise: How to Communicate in One Statement?
- Mission Statement: How Do You Do It?
- Brand Attributes: How Does the Brand Present Itself?
- Frame of Reference: Where Is the Brand Placed?
- Target Customer: Who Is Your Audience?
- Customer Need: What Is Their Real Job-to-be-Done?
- Value Proposition: What Are You Offering?
- Reasons-to-Believe: What Are Your Proof Points?