CREATING YOUR VALUE PROPOSITION
The stuff of USP, niche, differentiator
It is not enough to simply provide a good service or make a great product. If a million people can do what you do you will not win. You need to work out what’s important to your customers and how you offer something that others can’t. You need to figure out what makes you the only choice for your customers.
Defining your value proposition (the value you deliver to your customers) is one of the most important things you can do as a business. Yet many don’t do it well. Why? Because it takes time and it takes discipline. It involves making choices and being clear about the value your business really delivers.
Your value proposition will emerge in the process of asking and reflecting on the right questions. And it starts with a clear understanding of how your offering improves the world of the people you want to win.
“If you have an hour to create a product or service, spend 59 minutes figuring out how it will elegantly solve a customer’s problem, then spend a minute designing it.” Global Fit CEO Frank
Whatever you define your value proposition to be, make sure it lines up with what you DO and who you ARE.
It can’t be just what you SAY you are. It is not a slogan or marketing campaign. It has to live through everything that you do – every element of your business. Make sure your activities, processes, people, communication, products and services genuinely deliver it.
YOUR VALUE PROPOSITION
NOTE: If you want to create a single “brand” then it is essential to identify a single idea that captures the entirety of your business when you look at your benefits.
If you have an accountant, they should be your first stop for business advice. If you don’t have an accountant or they can’t help, BuBul has a wide range of experts available. For more advice on creating your value proposition contact our expert* Tony on LinkedIn.
*We’ve picked experts we know and trust who are good at what they do. All of them will give you at least an extra 30 minutes free advice if you contact them and would then charge their normal prices. They don’t pay to be on BuBul and don’t give us any money from anything they earn as an expert.