Successful companies have one thing in common – happy customers. Happy customers are repeat customers, and they keep coming back because they believe they are receiving value-added products or services as promised by the company.
As part of a comprehensive business strategy, a value proposition (also known as Unique Selling Proposition) is developed for any portion of an enterprise – ranging from the entire company to a single product. To create a value proposition, the company’s benefits, costs and value must be known in terms of how they can deliver each to different groups of consumers. Value should equal benefits minus cost.
A unique value proposition takes this one step further by including that your company offers its goods or services with a value not available elsewhere. This should be delivered to customers and potential customers in the form of a succinct statement, which informs them of what your company has to offer that is not offered by others. Your brand should be reinforced for consistency and help you better position your product in the market.
Your unique value proposition should be written in clear language and – above all else – be honest. You should not use this like a mission statement for what you strive for; this is what you are right now in terms of what you offer customers. Ensure the language is clear, but also relevant. If your target audience can’t identify with “strategy,” use “goal“. If you’re not speaking the same language, you need to adjust in order to be understood. Think long and hard about why customers should choose you over your competitors and get it down to one or two sentences.