A business works hard to introduce a new product and service into the marketplace. The offering is packaged in an attractive design and launched with creative branding and fantastic marketing. Unfortunately, these do not matter if the customer is not sufficiently excited by the new offering. Yes, it is all in vain if the value proposition does not speak to the customer.

Your value proposition is the specific benefit(s) that the customer gets from using your product(s) or service(s). Note that the value proposition is not merely the products and services you offer. Indeed, it is the cumulative satisfaction your customer enjoys when they take a bet on you. That satisfaction should not be found elsewhere. The greater the benefit to the customer, the more successful a company becomes. A value proposition sets you apart from everyone else in the mind of the customer.

I am an Apple fan because their products and services speak to my need for speed, quality, minimalism, and modern aesthetics. More importantly, their unique selling points over time have consistently resonated with me. “Think Different,” “Tech That Works,” and “Your Privacy Is Safe With Us” are all value propositions that made me a loyal Apple customer today.

Strong value propositions begin with clear customer insights. Of course, statistics help, but they only provide a glimpse of your ideal customer. So, it would be best if you dug deeper into their motivations, routines, dreams, frustrations, joys, and aspirations.

Successful value propositions considerations

There are several factors to take into consideration when coming up with a value proposition. Ensure that a lot of people will pay a lot of money to enjoy your unique selling points. In addition, make it difficult to copy to ensure your competitive advantage remains. However, the following factors are very important for your successful value proposition.

1. Insightful value proposition

You create a great value proposition from a deep understanding of the person you serve. Walking in their shoes will help you discover insights that others might miss or deem irrelevant. A successful value proposition addresses both the functional and emotional needs of your ideal customer.

2. Offers Unique benefits

Your value proposition has to be one-of-a-kind that your customers cannot find elsewhere. The value you provide should never be of the cookie-cutter variety.

3. Targeted at a specific need and customer

In business, you cannot be everything to everyone, and it starts with your value proposition. It would help if you were laser-focused on serving a specific need for a specialized customer segment.

A great value proposition saves you resources.

A successful value proposition will prevent you from wasting time and resources on a service or product no one needs. In the book Value Proposition Design by Alex Osterwalder and others, you achieve a fit when your customer profile aligns with your value map. Gains, pains, and jobs make up the customer profile. On the other hand, customer-aligned products/ services, pain relievers, and gain creators make up a value map.

Achieving good product fit

You know you have a good fit when your products and services create pain relievers and gain creators that match essential outcomes for the customer. For instance, washable wall paints for stain-free walls address the pains of an exasperated mom who had to contend with childish scribbles on the wall. Instead of repainting frequently or living with angst, she cleans the wall, and everyone is happy. Talk about a vital gain creator and pain reliever when raising kids.

It is about the customer, not you.

Never force customer pains or gains to match a preconceived unique selling point. No! It is not about your fantastic product. That is useless if it does not offer a significantly desirable value to the customer’s life.

Develop your detailed customer profile first. Your goal in creating a detailed customer profile should be to narrow down on a few essential customer pains or gains. Then, ensure your products or services address those pains or gains exceptionally well.

Never attempt to address all customer gains or pains in coming up with your value proposition. Once again, remember you cannot be all things to everyone. Pick a few crucial ones you are sure to excel at and focus on them.

In conclusion, your value proposition is not something you set and forget. Instead, it requires constant improvement to align with changing customer pains, gains, or jobs. In crafting your unique selling points, never blur the line between what is important to you and your customer. Frame your business around a deep understanding of who you are serving and how they define their success. Once you know that, everything else will follow.