Designing Your Value Proposition

Value proposition gives customers the understanding or reason for purchasing your products and the benefits they will gain from the bundle or services that you offer.

Here are some examples of good value propositions:

Homeowners don't buy home insurance for the many features that it has, and list of things it will cover in the house, but really what they buy it for is the benefit of having peace of mind.

If you have a think about that for sports fanatics or sneaker fanatics. Now the product will be a sneaker.

They like their sports shoes and they look very good. Often we choose one sneaker over the other, not necessarily for its features as they're often quite similar, but what makes us buy one brand over the other is really the brand status and potentially the quality.

A couple of different points that can help your value proposition stand out are:

• How much more convenient your product may be,

• How much easier it is to use,

• How much more transparent it is,

• It could be cheaper,

• Better in quality or

• Save your customers more time.