A Value Proposition (VP) is a statement that makes you attractive to your clients and helps you stand out from others.
A Value Proposition (VP) is a statement that makes you attractive to your clients and helps you stand out from others. It clarifies what your clients can expect along their entire journey with you – that you aim to deliver on that promise through all life stages of your client’s journey.
Identify your current situation and Value Proposition
Analyse your current situation:
- What are your values, mission, structure and systems?
- What are your strengths and weaknesses?
Look at your market strategies for your services and see if they differentiate you in any way.
Look at your organisational mission and how this aligns with your strategic or operational plan (also refer to How to write vision and mission statements).
Ask yourself if your Value Proposition is meaningful and sustainable for your clients in the long-term? If you think this needs adapting, or you do not have a Value Proposition, follow the steps outlined below.
Establish goals
Rather than focusing on the day-to-day delivery of your services, look at your goals. Clearly explain what you want to accomplish as an organisation.
- What is your organisation doing that will achieve the best outcome for your client?
- What is unique about the services you provide?
- Do you want to boost your brand awareness, attract volunteers or more funding?
- How do you want your clients to perceive your organisation?
Your goals can be long or short-term or both. Consider your objectives and ways to measure the results. Define what the best results you can realistically deliver. Don’t set yourself unrealistic expectations!
Describe what makes your goals valuable
Consider the following points and rank them in order of importance:
- Could your Value Position be more aligned to influence client outcomes?
- Do your goals help to reduce permanent interdependency?
- Do your goals create the greatest impact and change in the life of your clients (for the better)?
- Will your clients continue to need the support and assistance of others in their journey to a complete transition?
Identify your target audiences
Look at your current client base.
- Who are they?
- Why do they use your service?
- Are there other people who could benefit from your service?
- Who are your competitors’ clients?
- Why do clients use your competitors’ services and not yours?
Develop your new Value Proposition
Using the information you have documented through the process outlined above, craft a summary or positioning statement that will help you to define how you want your audience to see you, who you are, who you support and what you offer.
For example:
- We focus on quality first
- Our services are designed to reach as many people as possible, no matter the individual cost
- Clients never have to worry about anything – we do it all
- We aim to capture the market with the lowest price
- Our services are designed for the client’s budget
- Our services are subsidised so deliver more for the money
- Our services provide equitable life outcomes for our clients
Your Value Proposition may be all or one of the above the aim is to align them with your market evaluation and strategic direction.
Resources
Harvard Business School – How to Create an Effective Value Proposition.