Your customer value proposition is the reason why customers should use you and not your competitors (more guidance on this subject).
What do you stand for? What benefits can you offer this audience? Why should they use you? Why should they take any notice of what you are saying?
What does this audience think about the industry? What about your business in particular? What do you want them to think?
To grow (or even to stand still in today's changing market) you must try to differentiate your business and give yourself a value proposition that instantly communicates how you benefit your customers.
Here are some ideas to give you an idea of what’s needed
- Stand for something
Think about how the big brands do this. Some are the cheapest, some deliver the best quality, some are cutting edge, others are long lasting.
What is your proposition? How do you deliver the optimal solution for a particular type of customer?
How are you the most or the best at delivering their needs or solving their problems?
For example you might decide to position yourself and your company as the expert in the insurance business - someone who will always get them the best product, service or price deal to meet their particular needs - someone who will always give their needs top priority.
Once you are clear about what you stand for, write it down in one concise sentence.
This statement is your value proposition and should serve as a foundation of all future business and marketing decisions.
- Be different. You can't just say 'we offer you great service'
If you don’t know what makes you different then talk to your loyal customers. Why did they start buying from you? Why do they keep coming back?
Carefully review your competition to ensure that your offering is truly different.
When asked how their companies are different, nine of ten business owners are likely to say "service." Eight of these nine are probably wrong.
If you think service sets your company apart, then describe the aspect that is different.
Don’t generalise. Service is not a unique value proposition (UVP). Speed, personalization, capacity, consistency, quality and flexibility are all potential UVPs.
Your UVP needs to succinctly reflect exactly what it is that you do better than anyone else.
Could good marketing be your USP?
- Support this with testimonials and case studies
Telling your audience how you will benefit them is not enough, unless they have a reason to believe you.
So show them how you have made a difference by using testimonials/endorsements and examples/case studies.
- Know your competition
It's not enough to assume you know your competitors.
Tear out their ads, save their direct mail, and regularly review their websites.
If you see anything that remotely sounds the same as what you're saying, then it's time to change.
- Maximize and optimise
If you provide the best quality, think about the most extreme thing you could do to drive home that point.
Then think, "Why not? How can I execute this crazy idea and still be profitable?" The outrageous ideas are the most likely to make you a millionaire.
- Deliver the difference
Does every customer touch-point reflect and reinforce what you stand for?
Can your employees state your value proposition and deliver it consistently?