How to Determine Your Business’s Value Proposition

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Conveying What Sets Your Business Apart with Efficient Messaging

In a world where every company is trying to get noticed as quickly as possible, you may be wondering about how to make a memorable impact on potential customers.

In most cases, creating brand awareness is usually the first step when creating effective marketing strategies for a small business. In order for people to want to do business with you, they need to know who you are, what you’re selling, and what problem you solve for them. The challenge is conveying this information in lightning-quick fashion that sticks with the customer.

Just think about how many businesses you see while web browsing compared to how many of them you actually remember. The fact is that most businesses get ignored because people don’t know what products or services they bring to the table. Their value is unknown, and therefore, they are quickly overlooked and forgotten.

So, what’s the solution for this problem? How can you position yourself to be one of the few companies a person remembers upon first impression alone? What you need is a value proposition. If you’ve never heard this term before – not to worry – we’re going to break this down for you.

What is a Value Proposition?

In layman’s terms, a value proposition is a refined and simple message that conveys what people can expect from your business and what problem your company solves for them.

For instance, if your company is named Best in Texas Shoe Repair, people will likely catch on very quickly that this is a business based out of Texas that handles shoe repair, and that they’re also the best at it. Just based on this very small amount of information, people quickly know what the business does and the value they bring to the table.

However, a value proposition is more than just a company’s name. It’s the pledge that the company makes to the consumer. For example: “Our airline is always on time. Guaranteed.” Based on this value proposition, customers can expect an airline that never has delayed flights. Because one of the biggest problems with airlines is their punctuality, customers who fly a lot are likely to remember this company.

Another example: “The safest American-made sedans in the auto industry.” Almost instantaneously we know this U.S.-based company makes cars that promise to be safer than any other car on the road. For a consumer that values safety and/or American made cars, this value proposition is likely to stay with them.

The value proposition very clearly identifies the customer they’re proposing and the pain point they can help that customer resolve. Best of all, the information is conveyed in only a few seconds because it’s clear and concise.

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Is a Value Proposition the Same as a Tagline or Company Slogan?

Because value propositions are typically short and catchy, they tend to get confused with taglines and slogans. However, these are not the same thing.

Let’s consider one of the most famous company slogans of all time, which comes from Apple. “Think different.” Although that gives us an indication of the company’s approach, it tells us nothing about what they do, the problem they solve, or the value they bring to the table.

To cite a tagline, “Got milk?” is one of the more famous ones. Yet again, we’re not being given a value proposition. In fact, the slogan is asking the consumer a question, which is requesting information from them rather than providing it.

When writing out your company’s value proposition, make sure not to confuse it with a slogan or tagline.

How to Devise a Value Proposition

As a business owner, nobody knows your company and what it provides better than you do. The challenge is condensing this information into a snippet that can be easily digested by consumers. When devising your value proposition, ask the following questions:

“What’s in it for the customer?” Whether your business is clothing, computer repair, or aftermarket car audio – the customer needs to know what product or service you provide. Keep it simple and make it quick.

“What is the main benefit of the customer selecting you?” In other words, what’s the thing that you do better than your competitors? No company is truly in a league of their own, so point out what makes you superior to everyone else in your category.

“What makes us stand out?” Be unique and distinct in your value proposition. It should sound like you and you alone.

Allow iFocus to Champion Your Company’s Brand and Value

For companies who have never explored the idea of hiring a full-service digital marketing agency, iFocus Marketing can help you develop your value proposition along with a full-fledged marketing strategy that will increase brand awareness and engage your target audience.

iFocus Marketing is one of the few agencies that provides a suite of online reputation management services and utilizes proven digital marketing strategies. We love data around here. It’s how we show clients what we’re doing for them.

Interested in hearing more? The first step is to contact our business development team so they can perform a needs assessment. This will officially open up the lines of communication between your business and our agency so that we can begin the discussion of where you’d like to improve, along with the company goals you’re trying to meet.

We tailor our digital marketing services to fit your business needs and strategy. Contact us today to get started!

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