Companies use value propositions to target customers who will benefit most from using the company’s products. The value proposition is the reason why customers turn to one company over another.
It’s important when developing your value proposition that it be clear and concise. It’s best to start by brainstorming and focusing on what needs your target demographic group have in common.
Problems with most companies:
- Company has not identified a value proposition
- Company does not clearly express its value proposition
- Company is not testing or measuring its value proposition
Strong value propositions deliver tangible results like:
- Increased revenues
- Decreased cost
- Decreased Risk
- Improved performance
- Improved operational efficiency
- Increased market share
- Faster time to market
- Decreased employee turnover
- Improved customer retention levels
- Customization flexibility
- Convenience
- Accessibility
- Newness
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