Value propositions are a part of marketing that’s often overlooked. Whether you’re looking for a way to communicate your business function to a target audience or you’re in the start-up stages, value proposition strategies are a necessity for all businesses.
- IMPACT, A truly great value proposition introduces you to prospective buyers and helps you make a strong first impression. The 31 Best Value Proposition Examples You Wish You Had.
- Medium Corporation gives you , Inspiration from 82 Great Examples of Value Propositions.
A value proposition can be defined as a statement that describes what your company or business does. It should also highlight what problem(s) you’re solving and how it connects your product or service.
CleverTap created an infographic with helpful tips on structuring a convincing value proposition. Some of the tips include focusing on the user’s mission, how to balance syllables and semantics, and not exaggerating your abilities.
Each strategy is paired with an example of a quote from a company valued at or over a billion dollars. It’s easy to follow and a great way to initiate your brainstorming process—below, we’ve highlighted some key takeaways from the guide.
- Focusing on the user’s mission: This is all about inspiring your target audience. For example, “You can learn anything.” This comes from Khan Academy, a billion-dollar business. Using a “you can” statement gives your target audience the confidence they’ll need to adopt your product or service.
- 10 is the magic number: According to CleverTap, the clearest and most concise value propositions are ten syllables or less. This is important because an average person visits a company’s home page for roughly one minute. Keeping your value proposition short and to the point can increase the number of website visitors who actually read your value proposition. An example of this is Shopify’s value proposition, “Build Your Business” This specific example is four syllables and most of the audience easily understands how Shopify adds value.
- Don’t exaggerate your abilities: This otherwise translates to not overselling your product or service. Overselling can lead to a frustrated customer if you’re unable to meet your standard. This type of value proposition is common among delivery service companies like Instacart. A value proposition that reads, “Groceries delivered in as little as 1 hour.” Instacart doesn’t promise all their groceries will be delivered in exactly one hour instead, they give a one-hour time frame. This prevents customers from having unrealistic expectations and potential lawsuits.
- Adding contextual images: This can elevate your value statement by controlling the image your audience envisions. For example, Nextdoor’s value proposition reads “discover your neighborhood.” This is supported by an image gallery of neighbors interacting in a community area (e.g. a park). Because not everyone’s perception of community is the same, adding an image simplifies and controls their message.
Taking into consideration these value proposition strategies can ultimately increase the success of your business. The key is to take value propositions seriously – value propositions help contribute to the success of a successful business.
Some include Khan Academy, Shopify, Instacart, and Nextdoor. More examples of billion dollar company value propositions are analyzed in CleverTap’s proposition infographic below. Now that you have the resources, grab a pen and paper and start brainstorming your value statement. We recommend starting with 10 ideas!
A very informative article that was, I loved it, and especially the use of the infographic, I know that a lot of people aren’t, but I am a visual learner, so I warmed to it considerably. Also, I like the advice “Don’t over exaggerate your abilities” as you may fail to deliver. Thank you, I very much needed reminding of this.
Thank you Simon, in fact most people are visual learners. Only 2% of the world population can learn from reading.