What are some examples of value propositions that resonate with your target market?

La propuesta de valor debe contener por lo menos un 70% de información de su cliente y únicamente un 30% de información de su empresa, producto o servicio. Al cliente le gusta que le hablen de su negocio, de los objetivos que quiere alcanzar y de lo que va a obtener de manera concreta con sus solución, servicio o producto. Entregue números, datos, cifras y hechos concretos de logro para su cliente en la redacción de su propuesta de valor. Manuel A. Navas Campuzano

We are only as valuable as our understanding of our our customers (actual and potential). With social media and online access to lectures and networks, you can understand your customer segment better than ever without even seeing many of them. Watching these lectures and meetings on line lets me learn the problems, what they look, sound and feel like, and the language used by the customers. When I talk to the customers, I can use their language and examples much sooner and become trusted a good bit faster.

Value proposition metrics have evolved greatly over the past 24 years of my healthcare career with 12 yrs spent as an ortho & spine med device rep. At the start of my journey the value proposition was patient centric and reps needed to have a firm grasp of evidence based outcomes from the clinical literature to sell surgeon champions. The surgeon would do the heavy lifting with key admin decision makers and if your doc wanted it, he or she, usually got it. Today sales reps in med device must have a firm grasp of value analysis committee requirements, pro forma development & value added care quadruple aim mandates from CMS. Throw in private equity ownership economics and reps need to bring the value proposition of an MBA to win the business.

Most common market research techniques simply ask the customer what we should do to win their business, but most customers aren't good at defining our strategy. Customers are good at telling us what they are trying to accomplish, how they are currently trying to accomplish it, what works and doesn't work, and the outcomes that result. Then it's our job to figure out the strategy that creates best experience for the customer. I've found a more anthropological or enthnographic type of research is best at delivering these kinds of insights. In variably, different customers require different strategies to win their business. These different winning strategies form value-based segments. Value propositions are specific to a segment.

A clear understanding of your customer persona is more than a quick profile. It is an understanding of the challenges they are experiencing uniquely, from the perspective of their role and their industry. To fully grasp the weight of the challenge, we also need to understand the cost, by articulating the impact that is having on the individual and their organization. By understanding and aligning on the challenge and impact, we can create a vision for a better solution.

Value is a comparative concept. We can't describe our value unless we are specific to the Customer's alternatives. For example, if we compare our value to the customer's current situation and assume they'll do nothing to fix it, our value is likely to be very large. On the other hand, if we compare our value to our toughest competitor, the value is likely to be less. It's impossible to write a single effective value proposition for both alternatives. Most firms focus on their value compared to the customer "doing nothing." That's way so many value/ROI calculations are so large, but easy to dismiss. With a large ROI, the customer is going to do something. They want to know why they should do it with you instead of your competitor.

"You also need to quantify your value in terms of tangible outcomes, such as revenue, cost savings, time savings, or customer satisfaction." This is a skill set that we in MedDevice are learning quickly. We weren't required to be experts at these skills. It was all "Clinical, Clinical, Clinical....with a dollop of Clinical on top!" Times have changed and your paragraph nailed it!

Ask yourself more questions. Why should a customer choose you over the competition? What do you do better? What sets you apart from your competitors? What can you do that is not being talked about by competitors already?

You need to have a unique selling point. Solve a unique problem after analyzing the market and understand what are their issues. Be different than your competitors by offering value-added services, quality products, timely delivery and availability, superior customer support, personalized solutions, competitive price and innovation. It depends on your target market how you want to build a competitive edge.

The value proposition should articulate the value on 3 levels: 1. How will the customer's performance improve 2. What business and personal outcomes result from the performance improvement 3. The worth of those outcomes Plus we should provide a "reason to believe" that we can deliver that outcome. This could be a unique feature/capability or examples of where we've done it before.

Here's some prompts that we find work consistently across brands: 1. Be specific 2. Identify the pain-point you solve 3. Describe your competitive advantage Example from Gusto: “Put the joy back in running your business. Work faster and reduce errors with automated payroll, HR and more.”

I like to start with the customer challenge in mind, its impact and then explaining how we can address those challenges. You then need to provide the expected impact and the evidence that we have done it before.

Here’s how you can structure a value proposition for one of my brands, for example, Kaxanie: [Headline] - "Experience clear, strain-free vision during long digital hours with Kaxanie's stylish blue light blocking glasses." [Subheadline] - "Designed for modern professionals, Kaxanie glasses protect your eyes from harmful blue light while maintaining a sleek and professional appearance, so you can stay productive and comfortable all day." [Proof]: Over 95% customer satisfaction rate. Featured in top tech and lifestyle publications for innovation and design. Endorsed by leading digital entrepreneurs who rely on Kaxanie for daily use. Clinical studies show a 40% reduction in digital eye strain symptoms after consistent use.

Test different variations to see what resonates most - my SaaS startup saw a 20% increase in signups with a more concise value prop. Gather feedback from customers and sales team - a client's value prop was too technical until we simplified it based on user interviews. Measure impact on key metrics like leads and conversions - an e-commerce client boosted sales 16% by emphasizing their product's unique benefits. Iterate based on results - a client pivoted their value prop after initial tests showed it didn't effectively address their target customers' needs. Maintain consistency across all customer touchpoints - a client saw better results when they aligned their value prop across website, ads, and sales pitches.

The best value story told is the story told by the customer. We should help our clients identify the value potential and then gain their feedback and insights to make it real and believable for their stakeholders. Once the justification is presented more broadly, it should continue to be refined based on stakeholder feedback until it is effective and aligned with the customer's reality.

Testing and refining your value proposition needs to be a constant process. In B2B SaaS, it can be quite complex as every deal will have its specificities. Analyzing your win rates and slicing and dicing data based on geography, industry and stakeholders involved can be a good start. Doing customer facing win or loss analysis (post mortem) is even better.

Salesforce's original value proposition (when they were effectively creating the SaaS market too) was exceptionally effective: Target customer: Medium-sized businesses who can’t afford current on-premise CRM software Customer’s Next-best-alternative to Salesforce: Microsoft, SAP, or Oracle customized installation of on-premise software Value: ? Less features and customization, but comparable new sales and customer retention performance as on-premise software ? Up and running 18-24 months sooner capturing revenue growth worth at least 1% of sales and lowering purchase risk ? Virtually eliminate ongoing software maintenance cost to lower total cost by ? to ? Price: at least 50% below the total cost of on-premise CRM

An example of our company's value proposition is that we deliver on time or it's free! We are less expensive than our competition, faster and higher quality. We make it easy to do business with us, allowing the customer more time to do what they do.

Very well explained with great examples. Just like Blinkit whose value proposition or USP could be delivering any number of items within 14 minutes, that makes it really popular.Thank you for this insight!

The 4 biggest reasons value propositions are ineffective: 1?? Reliance on overused, vague platitudes like high quality, complete solution, and easy to use. These are easily claimed by competitors. 2?? More about us than the customer. I’m surprised by how many value propositions remain feature-laden. 3?? Misaligned comparisons. If the value in your value proposition describes your value compared to the customer doing nothing, but your customer is comparing you to your strongest competitor, the value will seem overstated. You lose credibility. 4?? No resonating focus. Too many value propositions claim 5 or more benefits. The most effective value propositions focus exclusively on the 1 to 3 most important sources of value.

Now that you’ve defined your value prop, map it back to your financial strategy. Let’s begin with your price. Setting the right price can be a task all on its own but once you do, it reveals your market position. Is your business white glove concierge or economy? If you consider your business to be white glove concierge, for example, you’re going to offer more, at a higher price point, but for fewer customers. Or, in accounting terms, you generally will have higher margins with lower revenue. On the other end of the spectrum, if you offer more standard or economical pricing, you will likely have lower margins: Your business offers a little bit for lots of people and with a lot of revenue.

We all tend to overcomplicate things. Especially when we have done a lot of work with the client to map their challenges and create a custom offering. Your value proposition needs to be as concise and as concrete as possible. A 10 year-old should be able to understand it.

The Evolution of Your Value Proposition Remember that your value proposition isn't static. As markets shift, customer needs evolve, and your business grows, your value proposition should adapt. Regularly reassess its relevance and effectiveness. Are you still addressing the most pressing pain points? Has a new competitor changed the landscape? Have technological advancements opened new opportunities? By treating your value proposition as a living document, you ensure it remains sharp and impactful. Set up a system for periodic reviews, incorporating feedback from customers, sales teams, and market analysis. This keeps your messaging fresh and your business ahead of the curve.