A value proposition is the written equivalent of an elevator pitch. The catch? You have way less time and you need to get to the point. Fast!
Check out this summary of our guest, Dan Yurman from Reword’s presentation on how to create a kick-ass value proposition. Read the highlights and watch the recording below.
Your value proposition is the very first thing people should see on your website. It allows them to quickly learn about your business and how it benefits them. Importantly, it has to answer the first questions that your customer will be asking: What’s in it for me? What need of mine is being met?
Any brand can nail their value proposition. The first step is to consider what specific customer needs you meet.
Maslow’s Hierarchy of Needs
This is Maslow’s Hierarchy of needs. To really nail your value proposition and convert more customers, try to meet needs as far down the hierarchy as possible.
3 Gyms Case Study
Let’s compare the value proposition of 3 gyms to see which one meets needs further down the hierarchy. Keep in mind, the core need met is the same for all 3: esteem. What makes each one stand out is their unique selling proposition. This directly ties into what needs are being met.
The goal for each gym is to reach needs that are below esteem on the hierarchy because they will resonate more with customers. So what needs can the gyms meet besides esteem?
Beyond esteem, Gym B also offers a community. That is more than just esteem and lower on the hierarchy. This is good!
Gym C offers safety. That is even lower on Maslow’s pyramid than esteem and community. Meeting needs lower on the pyramid adds more value to customers.
Warning: Make sure you are being honest about the needs you meet. Stretching your value prop to say that you meet a need that you don’t meet is the easiest way to harm your business.
4 keys to a good value prop
Remember the most important question that your customers will ask: what’s in it for me? The following tips will help you center your value proposition around this question.
It’s about the customer not you
A value proposition speakers to your reader, not about them
Highlights the results, not the process
Make sure it reads with simplicity and punch
That’s it. You don’t have time for anything else! Make it simple and to the point. Remember, your value proposition is like an elevator pitch with much less time.
Watch the Recording
Connect with Dan on Communo or at reword.ca to learn more about what really goes into a kick-ass value proposition.
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