Tailor Your Value Proposition to Your Customer

From an article by Wendy Armstrong for the Pittsburgh Product Strategy Network: “Distill your product’s promise into clear, concise, and credible prose and you have a value proposition. But, values are highly individual, so you may need a small library of them, depending on your audience and their distinctive needs.”

As she walks through the steps to craft a family of solid value propositions, Ms. Armstrong further explains: “The central objective of a value proposition is to convey to customers and prospects that you understand their needs and that you have a credible and attractive solution to their problem.”

• So What? If you can convincingly answer your customers’ ‘So what?’ question, you will capture the interest of prospects, simplify their decision-making process, and keep your own team focused. (…)
• The first ten seconds are key. According to Eagle Ventures’ Mel Pirchesky, getting someone to focus on your message either happens in the first ten seconds or it doesn’t happen at all. In that time, you’ll need to indicate what your product or service is and offer independent validation for the value you claim. (…)
• Go where the pain is. A customer may have a number of different problems you can solve. But focus on the one that causes them greatest pain, and on how your product can remove that pain. (…)
• Be relevant to each buyer. Your customer’s financial pain may be acute for the company’s CFO. But their Engineering VP is more likely to be focused on the technical benefits your product could provide. (…)
• A value proposition is not a data sheet. Listing your product specifications is no way to rise above the competition, and it won’t help your team focus on delivering customer value. Your customer wants to know how your product is going to improve his or her life. They want to know: “What’s in it for me?” Answer their question. (…)
• Ask the expert! Exactly who is the expert? It’s not your own Vice President of Product Development – it’s your customer. So before you write a word of your value proposition, pick up the phone and ask your customers and prospects: “What’s really important to you?” (…)

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