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24 January 2017  /  
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Value proposition – why do we need them

The market environment today is dynamic and fast changing. Customers are spoilt for choice on where to shop and what to buy. It has become more crucial than ever for businesses to create loyal, long-term relationships with their customers.

So what is the first, most important message you can offer your potential customers?
A “Value Proposition”.

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What is a value proposition?

Value propositions are not tag lines or catch phrases. It is a statement of

  • the solution you offer with your service,
  • the key benefits of working with you, and
  • how you are unique in your market space

The value proposition should serve as the underlying foundation of your marketing strategy. Communicating this to your customers or potential customers would enable them to understand why they should choose you over your competition.

So how do you create a value proposition?

Some may suggest creating the value proposition as a single sentence, similar to a mission or vision statement. However, it would be easier to read if it was in clear, succinct points with short heading. Keep it simple, to the point and not too wordy.

“Australian Made and Owned.”

This is an example of a very strong value proposition. In a world where almost everything is imported, locally made and owned is a very compelling reason for customers to engage with you.

One thing to remember is that your value proposition doesn’t have to be unique in the whole world, only unique in the customers mind.

“Free Shipping Australia Wide”

The point above clearly tells customers two very important points. Firstly, the solution you offer – Free Shipping, and the second, Australia Wide. This means customers who are in regional areas can benefit from buying from you and can be assured to receive their goods at no extra cost to them.

As Magento web developers, we know value propositions are especially great for online stores. The internet business is booming and everyone sells online. Value propositions can help you state your case and in some cases even justify your pricing.

Here are several examples of value propositions that have worked on our client’s websites.

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A&D Weighing is a Scale Manufacturer and wholesaler. Key selling points for their industry are reliability, service quality and trust and so their value proposition clearly states these points.

 

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Pet Guardians is a pet food and prescription pet medication supplier. They are also a charity organisation and offer express post shipping on selected medication order. These points allow them to stand apart from other online pet stores.

Value proposition are great to clearly state your point of different and why customers should transact with you.

Read through our blog pages for more tips & recommendations to enhance your website or webstore or contact us today.