7 Habits of Highly Effective Customer Value Propositions

Customer value propositions. Today, no business can get away with not having and using a value proposition. If you have a website - or business profile on the internet - you will be forced to state what your value proposition is. The good news is that they're fun to do. And, when you get them right, they're incredibly powerful.

So, what is a value proposition? In brief, a customer value proposition a statement that sets out what you do as a business - covering the elements that are critical to your customers. The aim is to set you apart from competitors in the customer's mind - so that they choose your offer over that of a competitors.

Why do you need a value proposition? in brief, it helps ...

• Your customers and prospects understand what you do
• Your employees to be on the same page
• To create a competitive differentiator
• Find more customers
• Win more business
• Retain customers for longer
• Stakeholders to understand how they can add value
• Build a foundation for profitable business ...

How to create highly effective customer value propositions:

1. Keep your value proposition brief

2. Outline your business 'big picture':

• Who your market is - segment you're targeting
• Customer needs, wants or challenges
• What your product / service does for them - the benefits
• The uniqueness of your offering
• Why your offer is better than the competition's offer

3. Use to create a value statement and even shorter 'elevator pitch'

4. Create multiple value propositions:

• for every segment, product, service, brand and offer

5. Tailor each value proposition to your business and to your audience

6. Share and share again with your market and stakeholders:

• employees, investors, customers, supply chain ...
• adapt to the audience each time you do
• explain their role in the customer value process

7. Use to align business operations and deliverables