The secret to creating better value propositions
Business models are largely driven by one or a set of key value propositions. Your unique value proposition (UVP) is the reason your customers buy from you instead of the competition.
Whether you’re launching a startup or been in business for decades, you should spend time regularly building stronger UVPs. Today you are in luck because I am going to give you the secret to creating killer value propositions.
Ready? Lean in. Here goes.
Find out what your customers care about.
You see a lot of marketers stop at the demographics like income, marital status, education, etc. and stop. Go further. You must find out their aspirations, concerns, and behaviors. Develop insight about their environment and how it influences their decisions. This is what they care about.
Before we move on I want to clear a little confusion. It is easy to mistake value propositions for features. Features are ingredients. Value propositions are born from benefits. Benefits are the tangible or emotional payoff a customer gets from buying your product or service. Again, this is what they care about.
Once you have a better understanding of your customers’ cares you can design stronger value propositions by knowing what they are really willing to pay for.
Ok, I’ve told you the secret. What are you going to do with it?
photo credit: RestrictedData