Compelling value proposition as your business improvement idea to give you that competitive edge

by Sohini on 30/03/2018
Often businesses wonder what sets them apart. This leads them to define a unique value proposition, that which separates their business from competitors. A value proposition refers to a statement which explains how a product will solve the customer’s problem, deliver tangible and intangible benefits, and inform the customer why they should be opting for a particular brand over its competitors.

It is important that the value proposition is created in the language of the customer. Ideally, it should join a conversation which is already going on in the customers’ mind. To understand the language which customers use to describe your offering, you could consider conducting interviews.

The four-step approach towards building an identity

If you want to give shape to your business ideas, a substantive and compelling value proposition is crucial. To create a strong positioning statement, follow the four step:

Define

Evaluate

Measure

Build

The first step is to investigate the problem and define it. A problem well-defined is half solved. Ascertain whether the problem is urgent, is it workable, is fixing the problem unavoidable and what the consequences are if the problem is left unresolved.

Questions which need answering

In e-commerce space, most brands want to be in a position where they solve acute problems in a timely manner. Once you have determined the problem you want to solve and validated its criticality, ask yourself whether there is anything unique in the breakthrough that you have made. Having a service or product which is better and cheaper may not distinguish you from your competitors. For an important breakthrough, it is important that you understand the problem clearly, assess whether the solution can deliver uniquely and what type of disruptive model and business improvement ideas you can introduce.

What is a value proposition?

A value proposition is not a slogan or a statement. Neither is it a positioning statement. It should ideally consist of a headline, a sub-headline, a paragraph of text and graphics. The best value proposition is clear and concise. It should avoid superlatives and not create hype. On the contrary, it should communicate concrete results the customer can benefit from after purchasing a product or availing a service. You can consider using bullet points to list the benefits. Enhance your message with a video which revolves around the message you want to communicate.

Crafting a winning value proposition

When creating a strong value proposition you shouls consider reviewing every aspect of the product and service offering. Be on the lookout for specific unique elements which your products can offer. Incorporating metrics in the value proposition is an effective way to build credibility and trust. Reviewing the competition and clearly defining the target audience are equally important. Often, you will discover areas where you can “out do” the competition.

For best results, the value proposition should be incorporated at all touch points. Once you have crafted a clear statement, check how the clients respond to it. A/B testing is a useful method you can adapt to test the various elements in a value proposition. The A/B testing will help you to clearly determine which value proposition best resonates with the audience and help them associate with the brand name.

In addition to creating a strong value proposition, to optimise your online presence, register as a seller with Amazon. The intuitive, user-friendly platform will help you reach out to a wide target base and communicate the value proposition effectively.

Become an Amazon seller today
© 2018 Amazon.com, Inc. or its affiliates. All rights reserved