“While the value chain focuses internally on operations, the value proposition is the element of strategy that looks outward at customers, at the demand side of the business. Just as Thomson does, Harvard argues that a value proposition serves as the connection between a company and its customers: Harvard Business School’s Institute for Strategy & Competitiveness simplified how to write a value proposition with just three prompts. Ask Harvard Business School’s essential questions You can use Bain & Company’s 30 “ Elements of Value” and its B2B counterparts as a roadmap for articulating the ways your company gives the customer value within this context. ![]() In particular, try to understand whether a product or service affects a buyer’s perceived likelihood of failure, their anxiety, or their reputation at work. Remember that even when consumers are making purchases or investments on behalf of a company, they can still be guided by emotions. Next, you’ll dive into the customer’s wants (emotional drivers), needs (rational motivators), and fears (undesired outcomes). Approach the features and the experience that way, too: How do the features make the customer’s life better? How does the product experience make a customer feel? While writing out the benefits of your product, imagine how it increases pleasure or decreases pain for the person using it. When you explore each section of the canvas, do so from the perspective of the customer. There are seven areas to explore, each of which takes up a section in the map: Thomson calls a value proposition “a crunch point between business strategy and brand strategy,” and he created a model that syncs the two strategies. Thomson believes that a process like this can help team members get to “minimum viable clarity,” which can be whittled down into a one-sentence value proposition. Peter Thomson’s value proposition canvas explores the different components of a company that contribute to a strong value proposition. Start with one or try all three in a workshop to refine your ideas with greater precision. Here’s how to write a value proposition three different ways, from complex mapping to a simple formula. Rather than get everyone involved, start with a small group of people (no more than three) who can set aside the time to hone a few compelling options. ![]() However, including too many voices early on can water down your intent in an effort to make everyone happy, and, ironically, the results won’t work for anyone. If you’re intentional about creating a value proposition, it can help clarify the way forward for your entire company. How to write a value proposition: 3 options You may not see the foundation, but everything you do see - and the long-term safety and security of your home - rest on it having a strong place to start from. You may be wondering: Why bother learning how to write a value proposition? It’s like investing in the foundation of a house. ![]() Likewise, conversations around brand strategy and taglines should stem from a value proposition, but they aren’t one and the same. Every value proposition should speak to a customer’s challenge and make the case for your company as the problem-solver.Ī great value proposition may highlight what makes you different from competitors, but it should always focus on how customers define your value. It communicates the clearest benefit that customers receive by giving you their business. A value proposition is a simple statement that summarizes why a customer would choose your product or service.
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