What are the steps to create a compelling value proposition?

Creating a compelling value proposition involves several steps:

1. Identify your target audience: Understand who your customers are and what they need.

2. Identify the problem: Understand the problem your target audience is facing that your product or service can solve.

3. Define the scope: Determine how your product or service addresses the problem.

4. Offer a solution: Explain how your product or service solves the problem.

5. Highlight the benefits: Show the benefits users will receive from using your product or service.

Remember, a compelling value proposition not only meets customer expectations, but also elevates the value perception beyond just the bare minimum.

Question was asked on:

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)

Asked on the following presentation:

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...

file_save

Download free presentations