Tuesday, February 15, 2011

Develop Value Propositions that Resonate

A value proposition is a carefully crafted, clear, and simple statement that reflects the essence of the value your business provides to a target market. It should answer the question: “Why should I choose to buy this product or service, and why now?”. It’s a key element of developing a powerful marketing strategy.

The value proposition has three main parts:

1. Who is the target customer?
2. Why should the customer buy our offering?
3. What are we selling?

A value proposition is also called a positioning statement. Accurately positioning your product in the mind of a prospective buyer is one of the most important apects of marketing your offering. Importantly, your value proposition needs to show not only why your product or service should be chosen, but needs to also pass the "So What?" test with your target audience.

Build Value Propositions That Resonate

Here is template that can be used to build a two-sentence value proposition. Try filling in the blanks in the template with your own product or service.

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