What's Your Value Proposition?

Articulating and defending a company's value proposition is one of the most important responsibilities a marketer has. The ability to have your organization understand and deliver the value of a product or service for customers has never been more critical, and it's marketing's job to make sure the market understands the company's value proposition and ultimately create value separation between you and your competition.  That delta is the true equity that a brand has in the marketplace.

I like Investopia's definition of value proposition - "a value proposition is a business or marketing statement that a company uses to summarize why a consumer should buy a product or use a service. This statement convinces a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings."  It may be hard to get all the features, advantages and benefits down to something manageable, but the more clarity you can find through all the clutter the easier it will be for the market to understand and your organization to rally around.  Segmentation might wise to use depending on the depth and breath of your offerings, but at the end there should be a way to create an overarching value prop that ties into your mission and vision.

In today's "information overload" world, what statements are you using to convince customers to choose you over your competitor?  If you don't take positive control of that narrative and lines of communication, either your competition will or the market will define it on it own terms - neither of which are generally to your benefit.

If you can't recite the value proposition of your company chances are there may be something amiss in your strategy or your execution.  Take time to round out your understanding of value proposition from the position of your company, the market at large, and even by what your competition is doing.  A full circle view of value proposition will help identify the strengths and weaknesses in yours and ultimately create a stronger more visceral one for your firm.