How to make a value proposition

Love these? I borrow them from http://skeletorislove.tumblr.com/

As you start to consider your marketing plans, you’ll likely want a short a sexy way to communicate your value to your customers.  But this project can be intimidating.  I can honestly say that I’ve been paralyzed by the notion of coming up with a compelling value proposition.  In fact, the words “value proposition” make me freeze up because it sounds so… HARD.  

A friend came to me asking for some guidance on how to create a value proposition.  And because I do marketing for a living he assumed I could help him.  Little did he know, this is a source of anxiety for many marketers.  But, as with most things, when you break down a problem into smaller parts it becomes approachable and solvable.  

So, here’s what I came up with:  a value proposition is made up of three core elements.  First, you need to understand your customer.  Learn what industry they’re in, what customers they serve.  Next you need to understand and articulate the problem they’re trying to solve.  Start really digging into the issues from the customer’s perspective and figure out how you can make their lives easier.  Finally, understand your competitor and what you offer or can offer that makes you unique.  

Now you can put it all together:  

Helping [CUSTOMER TYPE] solve [CUSTOMER PROBLEM] by [COMPETITIVE DIFFERENTIATION].  
Although this might not create a perfect value proposition, it can function as a stand in until you have more insight into your customer, customer challenges and competition for further refinement.  

Have fun!

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