Value Proposition-The World’s Best Cup of Coffee?

Do you think about your value proposition and how it is helping your business?  According to a recent survey by Marketing Experiments only 10% of businesses are considered to have a strong, unique value proposition and an overwhelming 30% have no real value proposition.

Considering how important value propositions are in every process of business plans and branding this is startling and makes us wonder how you can set yourself apart and captivate your audience.

Paul Cheney, a blogger for Marketingsherpa Blog offers some important advice on these issues and how to distinguish yourself among competition.  He notes how in the movie “Elf,” Buddy, played by Will Ferrell, believes a storefront sign boasting “The World’s Best Cup of Coffee.” We as consumers know not to believe such a claim so, the issue many companies are faced with is creating a value prop that is believable and different from competitors.

Cheney says that a value prop will not be determined it is discovered. This involves a certain shift in thinking and can be created with the implementation of these steps.

1.)    Why buy from you over your competitor?

2.)    Compare what you are saying with what your competitor is saying, if your competitor can say the same thing about their products and business without lying then you do not have a strong value proposition.

3.)    Your value proposition must be instantly credible, use a statistic with as much specific information as possible.

4.)    You need to be able to test your value proposition by making it visible in every step of your sales process.

Check out the full article below…