Did you know that it is widely held that many businesses don’t succeed because they have weak value propositions? Or, even if they do have a solid value proposition, far too commonly it is not communicated online and across other platforms that the brand is using to attract and retain customers.
We all talk about how important it is to know your ideal customer, but have you really taken time to dive deep into understanding just who that is? Do you really know why that person would be looking for someone like you? If not, here’s the perfect exercise to help you identify exactly who your ideal client is. Plus, a way to take it one step further and establish a value proposition for your brand.
Value Proposition Explained.
It all begins with a Value Proposition — that short and sweet statement of who you are and what you do that solves a problem or adds value to another. In fact, it’s all quite so simple, you can boil it down to a formula.
I (or We) help [X] do [Y] by providing [Z].
X = your ideal client
Y = their unique need
Z = the unique way you meet that need
1. How To Identify Your Ideal Customer.
To help identify X (your ideal client), consider these questions…
Who do I love working with?
Who are my resources and talents best aligned to help?
Who is willing to pay me what I am worth?
2. Understanding Your Ideal Client’s Unique Needs.
Now, let’s take a deep dive. Don’t just focus on surface-level demographic traits. Think about your client’s WHY.
WHY are they looking for someone like you?
What are their goals?
What do they want to avoid?
Write down your answers to all of these questions and look for common threads.
3. Identifying How You Meet Your Client’s Needs.
Now that you’ve worked through X and Y, the last part is all about how you deliver and provide value to your client. How do you meet their needs? Ask yourself.
In what ways am I serving my client?
What do my clients value most about my product or the way I deliver my services?
How am I helping my clients achieve their goals or avoid a problem?
What makes my clients the happiest?
Oftentimes you can learn a lot about yourself and your company by reading reviews or testimonials from happy clients. They’ll tell you what they felt was so special about you or your product or service. Those words are great to consider weaving into your value proposition.
Now, Take a Stab at Writing Your Value Proposition
You can totally do this. Now that you’ve jotted down thoughts and responses to all of the above questions, it’s time to piece it together. It’s common to have many working drafts before finalizing your value proposition. It may even prove helpful to bounce your ideas off of others who know you and your business well. Allow them to comment and offer their thoughts and perspective.
Finally, once you have your value proposition finalized, it should be considered something that is “living and breathing” and revisited if needed as your business evolves or pivots. Now that you’ve put in all the hard work in creating it, make sure it never grows stale. This statement should guide all of your messaging and your business strategy.
To note, if something doesn’t fall in line with your value proposition, sometimes that might be an indication that it is an endeavor not worth pursuing. This isn’t in all cases and you should certainly give yourself the freedom to evolve and change, but it’s a great tool to use to assess whether the idea or strategy is worth your time. Typically, you should save the time you invest in your business for those matters that propel your business forward and fall in line with your value proposition. After all, this statement is central to who you are as a brand.
Value Proposition Example
So, here’s an example to hopefully spur your creativity and motivate you to jump start writing your very own Value Proposition.
At Wed Society, we worked with a small internal team to develop our Value Proposition. Here’s what it looks like.
Wed Society helps driven, motivated wedding vendors
focus intentionally on strengthening and growing their business
by providing educational resources, creative inspiration and opportunities
to build a powerful network among like-minded industry professionals.
X = Driven & Motivated Wedding Vendors (our ideal client)
Y = Focus Intentionally on Strengthening and Growing Their Business (their unique need)
Z = Providing Educational Resources, Creative Inspiration and Networking Opportunities (the unique way we meet this need)
As some constructive critique to ourselves, we’re trying to boil this down…make it more succinct. We’re just not there yet but we’ll get there. As I said, this is a living and breathing value proposition that should be given a great deal of thought, time and attention.
Integrate Your Value Proposition.
Once finalized, it’s time to adapt your value proposition into your messaging. As noted in the beginning of this article, it is widely held that most businesses don’t succeed because they have weak value propositions and/or commonly fail to communicate that across platforms to continuously engage new customers and retain existing ones.
Integrate and explain your value in your core messaging, on the main landing page of your website and continuously weave it throughout your social posts. You totally got this!
If you’d like to have your value proposition reviewed, drop us a comment below and share it with us. We’d be happy to weigh in and be a resource!