Value Proposition and Copywriting
October 8, 2022
What is Value Proposition?
A value proposition is a statement that tells customers what exclusive advantage they’ll get when they purchase your products, services or solution.
The value you offer should meet customers’ need, provide a superb customer experience and meet their expectations.
Your value proposition is the reason why customers buy from you and is crucial for your business’s success. If you don’t differentiate your brand from your competition, people will only compare brands based on price. As a consequence, your sales will be slow and your profit will shrink.
Your value proposition helps prospects understand what is unique and particularly beneficial about your solution. Your value proposition is essential in your business communication because it makes your brand attractive to your specific audience. This way your brand stands out in a sea of companies selling the same products.
** A simple value proposition formula is: I help (audience)] to (problem you solve) by (specific end benefit).
A Value Proposition Example:Most Profitable Words helps small entrepreneurs to boost their sales by writing copy that drives results.
What are the Elements of Value Proposition?
Your product has features and benefits that create a particular experience for your target audience.
What is a Product or Service Feature?
A feature is an ingredient of your product that which can be technical or informative.Features describe what your product is or is made of.
T shirt features :
- natural fabric
What is a Product or Service Benefit?
A benefit is the advantage users experience by using a product or service.A benefit is a positive influence a product has on the customer when interacting with it.Customers may experience immediate benefits and long-term benefits.
Cotton T-shirt benefits :
- They are comfortable because the material is soft and stretchy
- this piece of clothing lasts longer. This also brings money saving.
- Keeps you cool in the heat
- easy to put on and pull off.
- keep body odor away
As you see, benefits are derived from features but they refer to the customer's experience with your product.
Even if you want to sell to everybody you won’t be able to do so because different groups of people have different goals and look for different type of products.
Pay attention to those prospects who have a positive response to your offer and consider their goals, needs, wants and fears and what prompt them to make decisions. This is a good start t identify your ideal customer.
Connection between Product and Customer
A customer connection process must place customers at the core of all business interaction. Your relationship with prospects and customers should be based on authority and trust. Every piece of communication should clearly state so. This way you reassure customers they have made the right decision and they will probably buy from you again.
Value Proposition Levels
When you analyze your main audience’s problem, the benefits your product or service offers, and how to communicate the value of those benefits in a succinct way, you should consider three different levels on which you can construct your value proposition.
Technical level refers to your expertise in a field and your know how.
Technical Value Examples
- Increase productivity
- Automation of manual task
- Improving systems
Business level refers to the benefit that your product brings on that level.
Business Value Examples
- Convenience:saving time and money
- Profitability: product that bring money gains to customers.
- Increased market share
Personal level points out how your customer feels when using your product.
Personal Value Examples
- Improve life
- Social recognition
- Get a better job
This knowledge allows you to express the same value proposition in different ways.
Why is Value Proposition Important in Business?
Whether you like it or not, lots of companies sell the same items. So, if you don’t differentiate your company from your competition you’re doomed to fail. Your audience won’t find a strong reason to buy from you.
Think about supermarkets. According to research conducted by Ibisworld you can shop in 63,328 Supermarkets and Grocery Stores Businesses in the US in 2022.
Basically, they sell the same stuff. You can buy fresh meat and produce, baked good, diaries, canned and packaged products. You also find pet food, kitchenware, soaps, detergents, laundry bleaches, medicines and pet food. Clothing are electronics are also available.
So, how do they survive? What do they do to succeed?
They have powerful value propositions that differentiate them from their competition.
3 Powerful Value Proposition Examples
Target's Value Proposition
Target Corporationis an American department store chain with headquarters in Minneapolis, Minnesota. It is the seventh largest retailer in the United States of America. Their tagline is "Expect More. Pay Less.
Target offers high quality items and reasonably priced substitutes to expensive brands. They offer a 90-day guarantee for unopened packages. They also hold a positive public image for contributing to good causes
Walmart’s Customer Value Proposition
Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores from the United States, headquartered in Bentonville, Arkansas.
On September 12, 2007, Walmart introduced new advertising with the slogan, "Save money. Live better.", replacing "Always Low Prices, Always", which it had used since 1988. The company over-delivers on those aspects of the customer experience relative to competitors.
Walmart’s strategy of selling an array of high quality products as discounted products has allowed it to succeed in gaining a greater control of the retail industry and to demand manufacturers lower prices(Ghazzawi, Palladini, Hills, & Martinelli-Lee, 2014 )
Amazon Fresh's Customer Value Proposition
Amazon Fresh is a company that lets customers buy their groceries online and get their purchase delivered to their homes. Amazon Fresh opened their doors to the public in 2007 in Seattle, USA. Today, it has stores in 6 states in the US. They sell fresh produce such as meat, fish, vegetables and fruit. Shipping is free with an order value of over $35.
Amazon Fresh's target customer is above average median revenue.They spend prolifically and value time and money. Amazon's value proposition provides contemporary shopper with the convenience of buying fresh food online at no delivery cost for the customer.
Value Proposition Summary
After analyzing this three value propositions, we can conclude that:
- Target offers expensive and inexpensive versions of the same type product
- Walmart offers a great arrange of high quality goods at the lowest price in the market
- Amazon Fresh offers the opportunity of buying online and got the purchase at home. Three different robust value proposition that work for them and their target audience.
Why is Copywriting Important in Value Proposition?
Businesses create value through their products or services but there’s a difference between the intrinsic value of your products and the perceived value.
Maybe you have value on what you offer but you haven’t communicated it properly in your sales presentations or ads and your prospect is not aware of it. Here's where value proposition copywriting gives all the value you provide the prominence it deserves and grab your audience attention.
Once you have analyzed all the components your value proposition are made of, you need to express your value proposition in a clear, concise and persuasive manner.
A Copywriter can do a great job for you because they:
- Copywriters are experts in communication
- write copy that drives results
- Have an external and refreshing view of your business
- provide you with professional support in communication
To run a successful business and make it last, you have to offer high-quality products or services that create value and meet customers’ expectations.
To achieve that goal you need to:
To know your audience deeply and be aware of their needs, wants, fear and what makes them tick.
Offer products or services that contribute to make life easier for your customers.
Create powerful value proposition copy that makes the public aware of what you offer and how good it is for them.
Use this strong statement in all your marketing activities.
Need help creating a powerful value proposition? Contact us