What are the steps to create a compelling value proposition?

Creating a compelling value proposition involves several steps. First, identify your target audience and understand the problem they are facing. Then, define the scope of your product or service that addresses this problem. Next, present the solution your product or service offers to this problem. Finally, highlight the benefits the users will receive from your solution. This process helps in elevating the value perception of your product or service beyond just the bare minimum.

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So how do you actually create a value prop? First, identify your target, then the problem they are struggling with, followed by the scope that your product addresses, the solution it offers, and the benefit(s) users ultimately receive. In our example, the target is commuters. Their problem is sitting in traffic for hours at a time on workdays, or worse, being late for work because of traffic. The scope is navigational ease. The solution is an app that offers real-time data on the least-congested routes that take users to their intended destination. The benefit is hours saved each week and no more tardiness. (Slide 6)

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Value Proposition

Make the most out of your brand, product, or new feature in addition to its inherent merit. A convincing value proposition not only meets customer exp...

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