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How can you differentiate your value proposition from substitutes?

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How can you differentiate your value proposition from substitutes? This is a crucial question for any entrepreneur or business owner who wants to stand out from the competition and attract more customers. In this article, you will learn what a value proposition is, why it matters, and how to craft one that showcases your unique benefits and solves your customers' problems.

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Clint Engler

CEO/Principal: CERAC Inc. FL USA..... ?? ????????Consortium…

1 What is a value proposition?

A value proposition is a clear and concise statement that summarizes why your product or service is valuable, desirable, and preferable to your target market. It answers the question: What can you offer that no one else can? A value proposition should communicate your core benefits, your competitive advantage, and your customer promise. It should also be specific, relevant, and compelling.

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Clint Engler

CEO/Principal: CERAC Inc. FL USA..... ?? ????????Consortium for Empowered Research, Analysis & Communication
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Forget about features and focus on feelings. While substitutes might boast about bells and whistles, I dig deep into your customers' pain points and dance a jig of joy on their triumphs. It's not just about delivering results, it's about creating an emotional rollercoaster of "aha!" moments and fist pumps. My value proposition isn't a product manual, it's a love letter to your customers' success. Now, who can compete with that kind of heartwarming ROI?

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Roberto Reyes F.

MARKETING STRATEGY CONSULTANT / MANAGING CO-DIRECTOR AT INNOTECH CONSULTING Solutions in: Retail BTL, DG & HR / NOM-035 Training.
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Es la declaración clara y concisa que describe los beneficios que una empresa ofrece a sus clientes y es la principal razón por la que los clientes eligen los productos o servicios de una empresa en lugar de los de su competencia.

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2 Why does a value proposition matter?

A value proposition matters because it helps you to differentiate your offering from substitutes, which are alternative solutions that your customers can choose from. Substitutes can be direct competitors that offer similar products or services, or indirect competitors that offer different products or services that satisfy the same need. For example, if you sell coffee, your substitutes can be other coffee shops, tea shops, energy drinks, or even water. A value proposition helps you to highlight how your offering is better, different, or more valuable than your substitutes, and why your customers should choose you over them.

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Roberto Reyes F.

MARKETING STRATEGY CONSULTANT / MANAGING CO-DIRECTOR AT INNOTECH CONSULTING Solutions in: Retail BTL, DG & HR / NOM-035 Training.
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Es muy importante y n cesaría porque destaca las ventajas únicas, el valor agregado y las soluciones que la empresa proporciona a sus clientes, y comunica de manera efectiva por qué los productos o servicios son mejores que los de la competencia.

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3 How to craft a value proposition?

To craft a value proposition , you need to understand your customers, your offering, and your substitutes. To start, identify your target market and segment it into groups based on their needs, preferences, and behaviors. Then analyze your offering and list the features, benefits, and outcomes that it provides to your customers. Research your substitutes to compare and identify the gaps, weaknesses, and opportunities that you can exploit. After that, write a value proposition statement that summarizes how your offering meets your customers' needs, how it is different from your substitutes, and what value it delivers to them. Make sure to use clear and simple language that resonates with your audience. Finally, test and refine the value proposition based on feedback, data, and results.

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Roberto Reyes F.

MARKETING STRATEGY CONSULTANT / MANAGING CO-DIRECTOR AT INNOTECH CONSULTING Solutions in: Retail BTL, DG & HR / NOM-035 Training.
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Elaborar una propuesta de valor implica identificar las necesidades y deseos de los clientes potenciales, comprender cómo tu producto o servicio puede satisfacer esas necesidades de manera única y convincente, y comunicar claramente los beneficios que ofrece tu oferta.

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4 How to communicate your value proposition?

Once you have crafted your value proposition, you need to communicate it effectively to your potential and existing customers. A pitch deck is an excellent way to do this; it is a presentation that showcases your value proposition and persuades your audience to take action, whether that be raising funds, attracting partners, or launching a product. To create an effective pitch deck, use a catchy title that captures your audience's attention and summarizes your value proposition. Incorporate visuals such as images, icons, graphs, or videos to illustrate your points and make them memorable. Additionally, use short and powerful sentences that convey your key messages and benefits. Include data, evidence, and testimonials to support your claims and build credibility. Finally, use a clear and compelling call to action that tells your audience what you want them to do next.

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Roberto Reyes F.

MARKETING STRATEGY CONSULTANT / MANAGING CO-DIRECTOR AT INNOTECH CONSULTING Solutions in: Retail BTL, DG & HR / NOM-035 Training.
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Lo primero es comprender a quién te estás dirigiendo, ?Quiénes son tus clientes potenciales? ?Cuáles son sus necesidades, deseos y desafíos? E identificar el mejor medio para hacer llegar tu propuesta de valor al mercado correcto.

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沈冀伟

Chief Sales Officer at Shanghai Himmers & Chief Operating Officer at KinImage (Himmers International)
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Creating an effective pitch deck requires a catchy title and visually engaging graphics to convey key messages and benefits, supported by data and testimonials, and concluded with a clear call to action to attract and retain customers.

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5 How to improve your value proposition?

Your value proposition is not a one-time statement; it should be regularly updated and improved. To do this, you need to monitor customer feedback and satisfaction, track market performance, experiment with different value propositions, learn from substitutes, and innovate. This will help you identify customer pain points, analyze your strengths and weaknesses, test value propositions with customers and prospects, benchmark your offering against substitutes, and add features or benefits that enhance your value proposition.

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Roberto Reyes F.

MARKETING STRATEGY CONSULTANT / MANAGING CO-DIRECTOR AT INNOTECH CONSULTING Solutions in: Retail BTL, DG & HR / NOM-035 Training.
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Para mejorar la propuesta de valor es necesario identifica los beneficios clave como las características específicas que tiene tu producto o servicio, indicando cuál es la diferencia de tu oferta vs de la competencia. Comunica claramente los beneficios mediante un mensaje claro y convincente que destaque los beneficios más importantes de tu oferta. Proporciona pruebas que respalden tu propuesta de valor con pruebas y ejemplos concretos puede ayudar a aumentar su credibilidad.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you differentiate your value proposition from substitutes?

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1 What is a value proposition?

2 Why does a value proposition matter?

3 How to craft a value proposition?

4 How to communicate your value proposition?

5 How to improve your value proposition?

6 Here’s what else to consider

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