How to Craft an Awesome Customer Value Proposition
A company is only as good as its product, and the product needs to be perceived correctly by the end-user right away. A proposition helps brands establish a connection with a potential customer. The customer needs to be informed and educated about the benefits of your product, and a proposition helps create customer engagement and adds value to a brand.
A great customer proposition carries the potential to increase inbound flow, increase interaction, and build fruitful relationships with customers. An effective engagement platform digs deep into the customer characteristics to create detail-oriented propositions that are driven by insights, data, and analytics that increase customer acquisition.
Before crafting a value proposition, you must figure 4 things out:
You need to frame an outline of your product, what problem it aims to solve, and a description of how the product works.
The pain points
Explain the current scenario and why your product is the best resource to fight the current problem faced by your target user.
Compare the current solutions present in the market and how your product is better. Give your prospective customers a reason to choose your brand and not your competitors.
The target user
The product will be perceived well only when shown to the right audience. It will only make sense to those who are interested in that particular niche and know the market.
It’s not just fancy-looking content or design that can attract the crowd, but something that puts more emphasis on the product and what it has to offer. It needs to be neat, crisp, and effective in providing a solution.
Points of research
It is essential to do some research before you begin the crafting process. You need to list out the following aspects:
1. Market study
Understand what the current market scenario is. What are the factors that are currently fueling the growth in the market? Ensure there is space in the market for your product, and you would not run out of business.
2. Competitor analysis
Look at your competitors closely. You must understand what they have to offer, why they are so profitable, how they capture customers, and their strategy and product offering. Observe and break down their product. It is essential to distinguish your product from theirs. You need to figure out what makes you stand out.
3. Customer acquisition strategy
Think about how you will acquire customers. You need to identify the right set of customers and reach out to them in the right place. Customers should understand what you have to offer and why you are the best in the market. Identifying the customer’s main problem and offering solutions to the problem is the only purpose your proposition should serve.
4. Company vision
A value proposition should not feel like a menu card from a restaurant but like a conversation that provides valuable insights. It needs to get the reader excited enough to make them a potential client. The proposition should be written in an easy tone. It should serve the dual purpose of conveying what you want to say and providing customers with what they want to hear.
Brands that are doing it right
Here are a few brands who, upon incorporating the perfect structure for customer value proposition, are succeeding in their fields:
It has a powerful tagline that is simple, effective, and sticks to the mind: “Monzo: banking made easy.”
Monzo effectively puts the company USP in a line with an emphasis on why banking is easy.
As users scroll down, the website lists down all the advantages and features that will assure them about how Monzo solves their problems with ease.
The Monzo app is developed with an interactive user interface that is easy to get acquainted with. Thus, the website has covered the entire proposition with images to convey the app experience.
Each feature included in the website solves the essential pain points of the current system. Monzo thus directly poses as a valid solution in a market looking for it.
Built as a solution for getting rid of targeted ads and having a pleasurable user experience, DuckDuckGo competes with web browsers as it does not track the users’ history and ensures user privacy is maintained with discretion.
This simple yet elegant solution is explained in just two lines, followed by highlighted features of the web browser, and a Call-To-Action button to increase chances of engagement.
Vimeo has gained much recognition from the audience with its unique approach to video creation. It closely competes with YouTube, but the homepage here defines how it is different.
With its minimalistic choice of words, it promises the customer a revitalized approach to video. Vimeo then states the basics of how users can create, share, and manage high-quality videos.
4. Bloom and Wild
As an online flower delivery company, Bloom and Wild allow you to order gifts and flowers online and get them home-delivered to your loved ones. The website homepage successfully gives this idea to the reader by being crisp and to the point.
It simply explains the core idea behind the product: to show you care. The website uses a sound mixture of words and aesthetics to reflect the meaning of love and how you can share your feelings with Bloom and Wild.
The image itself gives a wholesome representation of what the service is all about. The approach is minimalistic, with a few, but pointed, words to provide more depth to the image. The proposition is also directly linked to the ‘flexibility’ shown in the image.
The secondary subtext explains how the product works and how the customer can benefit from it.
A new-age shared mobility service has gained popularity in the United States. Their proposition is basic, effective, and crisp.
‘Rides in minutes’ explains that it is a mobility service provider that can get you to places in minutes. It conveys to the customer about the network of vehicles available that can get to you in time, and get to your destination in time.
There is no one ‘best’ customer value proposition. It evolves as a brand expands. Customers and markets change over time, and the best way to stay in business is to learn, adapt, and improvise.
Even the best propositions need a little feedback and reconstruction. You must constantly optimize your company, product, and thus the customer service proposition for the better, to always be a step ahead.
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