How to Define a Value Proposition That Converts
One of the main reasons businesses are able to convert their website visitors into customers is the result of a good value proposition.
What’s a Value Proposition?
A value proposition is a unique statement that explains the benefits your business provides, and how those benefits solve your customers’ problems. It’s your promise of value that’s to be delivered.
What it is not
A value proposition is not a tagline or slogan. You know those succinct groups of words that identify product or company? For example, GE’s “Imagination at Work” or Apple’s “Think Different.”
Though taglines can be used to achieve the same goal as a value proposition, they focus more so on the tone of a business and not what a business can do for the customer.
Crafting a High Converting Value Proposition
Ask yourself, “What’s the big idea behind my small business? Why would a prospective customer buy from me and not my competitors? Can I easily explain what exactly it is that I do?”
If you can’t answer any of these questions, this is a good indicator that you either have a weak value proposition or have yet to establish one.
If your current value proposition fails to resonate with your website visitors, it’s because it’s not optimized for them. If you haven’t taken the time to create your unique proposition, it could be because as a small business you have not dedicated a reasonable amount of time to your marketing strategy.
No matter your business’s situation, you can benefit from these strategies for developing a unique value proposition that converts.
5 Key Elements of a Small Business Value Proposition
A good value proposition should resonate (is relevant to the target buyer), differentiate (is unique), and substantiate (delivers specific, promised benefits.)
When developing your value proposition, remember it’s about your customer and not you. There are five components all powerful value propositions have:
- An impactful headline that describes what you’re offering.
- Succinct sub-headline
- Copy that contains 2-4 sentences explaining what you do, who you do it for, and why you’re so unique.
- 3 bullet points that list your key benefits
- Visual elements such as a photo of the product or service.
Defining and Applying Your Value Proposition
Before diving head first into defining (or redefining) your value proposition, analyze your products or services, conduct some research to get a sense of what competitors are offering and seek feedback from your customers on what they value about your business.
As you begin to define your value proposition, remember that it needs to be clear and concise while answering the following questions:
- Who are you selling to?
- What problems does your product or service solve?
- Why are you different?
When your value proposition clearly hit these points, apply it. Display it clearly across your website, specifically on your homepage. You can also use variations of your unique proposition on other key pages as well.
Remember, many of the most successful businesses out there have a strong value proposition. This could be a driving factor in causing visitors on your site to convert.
Once effectively applied, you will be well on your way to not only more leads, but more conversions and customers for your small business.