March 9, 2020
According to Investopedia, a value proposition "refers to the value a company promises to deliver to customers should they choose to buy their product."
A value proposition is intended to sell a product to a prospect, and quickly. How does it do that? In most cases, we combine or filter a product's features and apply that to the target audience's problem.
The result? A one-line sales pitch that connect's a potential customer's current situation to a mythical future state, enabled by your product or service.
"The key to a compelling value proposition is creating a narrative arc. Show your potential user or customer that you understand where they are now and then paint a picture of how much better their lives will become with your help."
Content marketer, copywriter, and narrative strategist for startups
"A compelling value proposition for a business must focus on delivering a solution that is defined by how their customer views their ideal world. For instance, One Medical focuses on redefining the relationship between doctor and patient. Or (the overused example) Airbnb on diversity, belonging, trust, and safety through shared travel experiences."
Head of Growth at Legacy, a male fertility startup in Boston.
When building value propositions, I use a framework to help decide my 'Value Prop Score'.
Perceived Relevant Value - Perceived Relevant Friction = Value Prop Score
To lift your score, all you have to do is elevate the value or eliminate the friction a prospect may find relevant to them.