What is a Value Proposition, and what are best practices, tools and templates for teams and organizations?
Definition of Value Proposition
A Value Proposition is a strategic statement that defines the customer segments a company intends to target, the customer needs it intends to serve, and how it will do so competitively and profitably.
Description of Value Proposition
To develop a compelling Value Proposition, it is necessary to clearly define the customer problem the company intends to solve, and whether the problem is significant enough to pursue as part of a broader strategy. Sometimes, an innovative value proposition is not in response to an existing customer problem, but rather provides a solution to an unknown need that expands the market. The company must also define how it is poised to successfully solve the customer problem, typically through a unique product or service offering, and whether the solution is compelling enough such that it will drive sufficient customer demand. Finally, your company’s solution must stand apart from its competitors, often by offering a more enhanced set of features at a higher price, or fewer features at a lower price, depending on what is available in the industry. Competitive differentiation can also be achieved through innovative ways of segmenting the market.
Tools & Templates
Value Proposition statements are typically written as 1-2 short sentences and often communicated within presentations, reports, and other strategic documents.
upBOARD's Online Value Proposition Tools & Templates
Unlike most traditional Value Proposition techniques, upBOARD’s online Value Proposition collaboration tools allow any team or organization to instantly begin working with our web templates and input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.
Learn more about upBOARD’s portfolio of other marketing best practice tools and templates, including:
7 Cs Compass Model, AIDA Marketing Model, BCG Matrix, Brand Identity Prism, Brand Pyramid, Closed Loop Customer Feedback, Content Marketing, Customer Experience Maturity Model, Customer Journey Mapping, Environmental Scanning, Ethnographic Research, Four Ps, Market Sizing, Net Promoter Score, Personas, Positioning, Segmentation, STP Model, Trend Mapping, and Value Propositions.