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A value
proposition is a promise of value to be delivered and a belief
from the customer that value will be experienced. A value
proposition is what sets your business apart from others because
of what your business makes a stand about. Instead of attempting
to be known for everything, businesses with a unique selling
proposition stand for something specific, and it becomes what
you're known for.
Consider
that there are only four types of consumer benefits that matter
and by extension only four categories of value propositions
that work.
-
Best quality.
Think of brands that set a standard, like Apple, Ikea, and
Mercedes. You don't have to be a computer expert to have
heard of the success of Apple, nor do you have to drive
a Mercedes car to know the high quality of Mercedes cars.
Brands that set standards are sometimes luxury brands, but
not necessarily. You don't need luxury to set a best-in-class
standard. Brands like Ikea define quality in their categories.
That's an enviable position and a value proposition that
works.
- More
value for your money. Some consumers will always buy
on price. Best-in-class value doesn't always mean lowest
price, however, but rather the best quality-to-price ratio.
For instance, you have to do a good job of communicating
the value of buying Mastermoves relative to its price point.
For example, for the investment of $100 you can exercise
from home for the next 10 years, instead of paying $50 monthly
for joining a gym, buying a bulky treadmill for $800, or
a home gym for $500.
- Total
Satisfaction Warranty. Consumers need to resolve the
uncertainty associated with the purchase of a new product.
This uncertainty can be reduced through acquiring relevant
information to assess product reliability and quality. Part
of this information is the warranty in the product. Based
on the information available, consumers compare alternatives
before deciding on the final purchase decision. For this
reason is important to include in your value proposition
what is the warranty you offer to your customer. For instance,
we stand behind every Mastermoves program we sell and we
want our customers to experience total satisfaction in their
purchase. Our warranty is clear: If you are not 100% satisfied
with your purchase, you may return it within 90 days for
a full refund or exchange - no questions asked.
- Must-have.
One of the most attractive value propositions are the "must-haves."
These include basic goods - certain foods, for instance.
In fitness we often talked that core muscles are the most
important muscles for optimal fitness. Always, there will
be a need for fitness products and there will be competition,
but Core Training always will be a "must-have"
program we all need to achieve optimal fitness.
How
to craft a unique value proposition
What makes
a good value proposition?
- Clarity
- Resist the urge to complicate, flower up, or otherwise
degrade clarity for the sake of fancy language. The more
direct the language, the better.
- Benefits
- It communicates the concrete benefits a customer will
get from purchasing and using your products and/or services.
- Brand
Alignment
- The language you use to describe your value proposition
should reflect the image of your brand. If your brand is
about customer service, then try to select terms - like
"fast" or "thorough" or "hassle-free"
which reflect your overall brand position.
- Uniqueness
- It says how it's different or better than the competitor's
offer.
- Integrity
- It obvious with the benefits without exaggeration.
- Simplicity
- It simple in the language and can be read and understood
by any person.
A key
role for the value proposition is to set you apart from the
competition. So how do you make your offer unique? Often it's
hard to spot anything unique about your offering. It requires
deep self-reflection and discussion. If you can't find anything,
you better create something. Of course the unique part needs
to be something customers actually care about. No point being
unique for the sake of being unique ("the bearings inside
our Power Disks are red").
Examples
of Value Propositions:
- Environmentally
Friendly
- Mastermoves is a fitness program that focuses on environmental
stewardship, energy conservation, sustainable to practice
for life without having to spend more on exercise equipment.
- Charity
Support - Promoting Mastermoves, you have the opportunity
to get involved in your local community by given seminar
and supporting local charities, schools and organizations
to stay healthy and fit. Representing Mastermoves, you can
be known as the community-based health and fitness business
in town.
- One
Year Coaching Club
- By offering our internet coaching service you can give
people a reason to purchase Mastermoves through incentives
and promotions. Consumers like valuable internet services
like Google, ITunes or YouTube, and operations that offer
this type of services are highly competitive in their local
markets.
- 90
Days Warranty
- Many full service and products offer long guarantee which
gives a consumer piece of mind and security in their products
purchase. Any customer can return their Mastermoves set
up to 90 days from the day the order was placed
- Free
Inspirational Newsletter
- Programs that allow for unlimited services in exchange
for an annual subscription have been found to be highly
successful in certain markets.
- Low
Price Guarantee
- There has been a huge explosion in the number of low-cost
fitness products in North America because most people are
not willing to pay high prices for fitness clubs or exercise
equipments. Mastermoves offers a one time Low Price Investment
for a portable and durable program that can be use anytime
and anywhere.
- Superior
Customer Service
- Having great services has long been one of the big selling
points for going to a full service carwash. Whenever you
have employees on site you have a wonderful opportunity
to provide great customer service.
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Value
Proposition
