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Value proposition statements are part of a company or a brand's copyright statements. Value Proposition statements are not particularly visible to customers, but displaying the value proposition to customers in the best ways is a sure shot of winning your customer's trust and loyalty.

This is why brands and companies should invest time and effort into creating a creative and honest value proposition for their brands and products. Having different Value proposition statements for other target markets is also important, split by product category, demographic, or geography.

In this article, we will discuss what a value proposition statement is, how it differs from the rest of the copyright materials, and how to write a value proposition most creatively and effectively for your company's various target markets.

What should you do before writing a value proposition?

Writing a value proposition statement for your brand or product can be challenging. It is something that you can only come up with slowly. Your value proposition statement must align with your product or service offering. It must align with the values of the company and the value offering your promise to provide to your customers.

Unlike the catchphrases a company uses, such as Slogans or Taglines, a Value proposition is not just a line. It translates into the values of the product and the brand as a business and must be able to strike a chord.

To write a value proposition statement, you must first analyze the following criteria and understand your company's goals and objectives.

Here are some things to consider:

1. Understand your target market

First and foremost, you must be able to define and understand the target market you are working with. This includes the demography of your market, the geographic area, and the specific necessities of your target market that you aim to meet with your products and services.

By addressing these specifics, you can come up with the exact value you promise to provide the customers in the specific target markets with your products and services.

For example, a software-making company should be able to identify the various target markets they will focus on and tailor the value proposition based on these market segments. For example, HR, Sales, CRM, etc. Each target market can have a specific set of value propositions you intend to provide using your software product.

2. Identify customer needs and pain points

One of the primary factors that one needs to prepare while figuring out how to write a value proposition is by identifying the various needs of the customers and the pain points that they face, which you intend to meet with your product and services.

By identifying your customers' proper needs and pain points, you can come up with the best value proposition that immediately strikes a chord with your customers.

As a brand, when you can identify your customers' needs and pain points clearly, you can provide better solutions and tailor your products and services to specifically meet these pain points and therefore gain a competitive advantage over your counterparts in the market.

3. Identify your USPs

Another important factor for copywriters and marketers is to identify the USPs or the Unique Selling Propositions the company's products and services offer to their customers.

Using these unique selling points, you can come up with the best values that the company or the brand provides to their customers using their products and services and be able to align the same with the company's value statement.

Using these two essential things, the USPs of the product/services and the goals and values of the company, you can come up with a value proposition statement that combines both.

Value proposition vs. mission statement vs. slogan vs. tagline

Value Proposition can be easily confused with the mission statement of the company or the slogan or the tagline. In reality, all of these are different from each other although all of them try to communicate a certain aspect of the brand or the company to their target audience.

It is important to differentiate one from the other to come up with the best value proposition statement that is effective for the brand.

1. Value proposition v/s mission statement

The mission statement is more to do with the goals and objectives of the company or the brand as a whole and less to do with the product or service specifically. It translates the company's objectives and what they try to each in the market.

On the other hand, Value proposition deals with the value they intend to create amongst the customers using their products and services.

For example: The mission statement of a company that is into biodegradable packaging could be to “Help the earth become greener and to achieve sustainability” but their value proposition statement can be “to combat packaging issues with greener, safer alternatives”.

2. Value proposition v/s slogan

Value proposition and slogan differ because the saying is a brand's definitive catchphrase. The slogan is usually used in ads and other marketing campaigns and is very short, mostly just 3 to 5 words. It is meant to be memorable and catchy.

Value proposition does not necessarily go in on ads or other marketing activities. It is usually longer than the slogan as it captures the product's value and how it caters to the customers' needs.

There can be many slogans for different brands within a company but there is usually the same value proposition within a product category.

3. Value proposition v/s tagline

The tagline of a company or brand tries to capture the essence of the brand or the core idea of the company or brand from a perspective. Again, like slogans, taglines are short and catchy and have more to do with the company or the brand than the product or service.

For example: a company that is into mobile phones can have a tagline of, “Bringing forth the best of technology to you” whereas the value proposition can be more definitive such as, “Simple and affordable mobile solutions with the best of features, for everyone”. 

How to write a value proposition for different target markets?

Here is how t write a value proposition for different target markets.

1. Highlight your unique selling points (USPs)

This is one of the most important things one must remember while writing the Value proposition statement - it is important to highlight the top USPs you wish to communicate to your target audience.

The first step to ensure that your value proposition holds value and stance is by providing that you incorporate at least one or two of the top USPs of the product or service.

For example: Let us take the example of FedEx, a shipping and packaging company that assists in courier services. The Value proposition of this company is “Manage your home deliveries.” This addresses their top USP of shipping packages right from your home as FedEx allows pickup of packages or drop-in at any of their convention centers or retail outlets such as Walgreens or Walmart. This clearly defines their quick and easy shipping service USP. 

2. Craft a compelling value proposition

Another important part of writing a value proposition is to make it compelling. Customers must be drawn to the pitch that you prepare as part of the Value Proposition statement, and the company or the brand must be able to deliver on it.

A compelling value proposition makes sure that customers take notice and also allows the customers to take on the opportunity to give the product or the service a fair try.

For example: Let's take the case of the De Beers group, a diamond jewelry retailer. Their Value proposition statement reads: "Exquisite diamonds, world-class designs, breathtaking jewelry." This proposition statement is a classic example of how compelling the value proposition should be, as it attracts those interested in diamond jewelry and compels them to look at its product offerings.

3. Test and refine your value proposition

Once you have developed a value proposition statement for your brand, it is important to test them out. Use a sample audience and market the value proposition to gain insights into a small customer group.

Use suggestions and remarks to test if they can instantly relate to the product and service offerings and infer the product's USPs from the value proposition statement. Refine the value proposition based on feedback to attain the final copyright version so that it is foolproof.

For example: The value proposition of Apple, the technology giant, is "The best experiences. Only on Apple". This statement was tested and tried on different target audiences and caters to all product categories within the brand. It applies to all demographics and products commonly and helps capture customers' attention to the fact that Apple is indeed a tech giant like no other.

4. Tailor your value proposition for different target markets

In continuation to the factor above, tailoring a value proposition statement based on the target market is an essential criterion.

If the company or brand has different product offerings within the same company with varying market segments, creating Value proposition statements that cater to those specific markets would be wiser. This helps with better reach and reception of the value proposition statement overall.

For example: Let us take the example of Samsung launching their foldable phone. They have used the value proposition statement: “Get ready to unfold your world”. This statement is explicitly tailored for the target audience and market of foldable phones with advanced features. The statement is accompanied by a picture of the foldable phone that explicitly indicates the launch of the premium phone for customers who want something different and evolved compared to others.

5. Incorporate your value proposition in marketing collateral

Now that the value proposition is all set and ready to go, it is important to ensure it is used effectively. The company must include the value proposition statement in all the marketing collateral so that this important communication reaches all the relevant stakeholders (read: customers).

It is important to communicate the value proposition to your target audience. The best way is through marketing collateral such as a website home page, business cards, pamphlets or other written documents, blogs, social media pages, etc. This way, the value proposition is clearly defined and recognized amongst customers.

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For example: The value proposition of the brand LG is a “State of the art living experience,” which is ominously present in all of their marketing communication materials such as websites, pamphlets, brochures, social media pages, and even on their ads and logos. 

Conclusion

A value proposition can be a simple and effective way to gain the trust and credibility of the customer on your brand offering. A well-written and honest value proposition can help seal the deal and help you gain a good relationship with your target customers, as it can translate the core value of the brand and company through their products and service offerings.

A creative value proposition statement clearly defined for different target audiences and markets is a good way to encapsulate the USPs and benefits of the product offering and how they mitigate the various pain points of the customers smartly and effectively.

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