Your value proposition is one of the strongest tools you have to convert strangers into leads and leads into customers. If you have a weak value proposition – or no value proposition at all – it could mean losing a sale that you would otherwise close. By identifying what it is that makes your brand or project extra-special, customers will see that they should trust you instead of someone else.
What is a Value Proposition?
Your value proposition is a short-form piece of content that communicates the biggest value your brand or project offers, particularly in comparison to the competition (without actually talking about the competition). It should clarify why a customer should buy from you instead of a competitor. It will be placed in a prominent place on your homepage, and it’ll also be used across your social media platforms and marketing materials.
Here’s the most important part: Instead of highlighting what you sell, highlight why your product or service can solve your customer’s problem. And make sure that you differentiate your problem-solving skills from the competition.
Some companies create a value proposition for each product or service they offer, or for different segments of their audience. PayPal has a time-sensitive value proposition for tax season:
What a Value Proposition is Not
A value proposition is not a full proposal. Instead, it will be part of your proposal or pitch. It’s also not a mission statement, positioning statement, slogan or tagline. Since it’s easy to get all of those confused, here’s a brief overview:
- Mission Statement: Communicates what the company stands for; usually on a website’s “About” page instead of the homepage
- Positioning Statement: Internal tool (instead of customer-facing) that describes the product or service and market; sometimes, how the company is ranked is also considered a positioning statement, such as “#1 marketing automation tool for small businesses!”
- Tagline: Short, catchy, noticeable statement
- Slogan: Similar to a tagline, but for a specific product, service or marketing campaign (sometimes used interchangeably with “tagline”)
Basically, a value proposition differs from all of these other types of copy because it’s length falls right in the middle (not super short and not long), it’s customer-facing and it makes your value clear, even if it’s not as creative or pithy as a tagline or slogan.
Here’s an example of what not to do. This company focused on the features instead of benefits and value. This would be better as part of the mission statement or as a portion of the value proposition.
This article was written by Lindsay Pietroluongo and originally published on Elegant Themes Blog.