Value proposition

🌱June 13, 2021.
Last tended September 14, 2023.
seedling 🌱
1 minute read ⏱

A value proposition is :–:

  1. How a product or service benefits the target customers
  2. A statement describing those benefits Value is created by solving customer problems or satisfying their wants & needs.

To understand a product’s value proposition, write User stories for the customer. User stories look at a product through the lens of the user to clarify how it creates value for the user.

Value can be delivered in many ways, such as:

  • Newness (the first iPhone)
  • Improvement (software update)
  • Design/usability (nest thermostat that is easier to use)
  • Social status (Gucci, Prada, Rolex, etc.)
  • Convenience (faster, easier, better location, etc.)
  • Novel experiences, (visiting a zoo or circus, attending a magic show, etc.)

Alex Hormozi has a great framework for generating ways to talk about the value proposition(s) of an offer when copywriting.

  • Pluses - what are the benefits of the offering?
  • Minuses - what pain points does the offering solve?

Then take those and frame them with a variety of perspectives:

  • Self - how will these things impact me directly
  • Friends - how will my friends/family/wife/team perceive me
  • Enemies/competitors - how will my competition perceive me