Determining Your Value Proposition

What is a value proposition?By definition a value proposition describes the benefits customers can expect from your products and services. Your value proposition statement should not only tell the benefits you provide, but for who, and how you do it uniquely well. One company could have more than one value proposition if they have different products or services they sell to different markets. Check out this short video

Why you need one? It is important to have a great value proposition because you need to be able to distinguish your company from its competitors.

How you can develop a solid value proposition. To develop a value proposition we break it into two parts:

  • customer profile and

  • value map

A customer profile should describe the customer you are selling to. What problem is the customer trying to solve with your product? What are they trying to get done? What pain is your customer having?

A value map is a list of the products and services you are offering, how you fix the customer’s problem, and alleviate their pains.

Taking these items you can create your value statement. It should be 1-2 sentences to describe your target market, the benefit your company provides to your target market, and what makes you unique. If you would like more information click on the image below to watch a short video that explains developing a value proposition.

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If you want to know more about this topic, email Joy at joy@lizottecpa.com