A value proposition is a value it promises to provide to its customers after purchase. Ultimately, this makes your product attractive to your ideal customer. A convincing value proposition meets three criteria:
- More specifically: what specific benefits will your client receive?
- It focuses on pain: how will your product solve a customer problem or improve your life?
- It is exclusive: in what way is it desirable and exclusive? How is your competitive advantage different from your competitors?
Do not confuse brand slogans, key phrases or even position statements with a value proposition, as these are two different things.
A valid offer must be essential when a visitor visits your site. Although you are often at the top of the home page, there are other common hotspots you should consider (for example, the landing page, category pages, blog posts, and product pages).
Even if you manage to create an effective value proposition, you will not receive any income if it is hidden in the dusty corner of your website or if it does not exist on pages with a high purchase intention.
4 tips for writing a well-designed value proposition
Determine the correct solution for the problem.
The first step in writing a value proposition is to ensure that you understand your product as the “back of your hand”. Although this seems obvious, many entrepreneurs have no absolute insight into their product or their customers. It is important to determine the adequacy of the solution to the problem because the benefits of the value proposition that you propose must match the characteristics of the customer segment that you accept, observe and study in the b2b marketing strategies. To do this, you need to understand the pain and benefits of your customers and know how your product/service works as a source of income and pain medication. People don’t want a list of opportunities. You want to know how your product will improve your life. Tell them what is there for them. The best way to determine this is by entering a value proposition.
Let’s continue with the basics.
Write your first value proposition in clear words for a 10-year-old child. If you get the chance, literally talk to the child and explain your idea. If they don’t understand, re-evaluate your value proposition. Industrial jargon is not required when writing a proposal with a single value. Always write clearly and accurately and simply share your ideas. Use this as a framework for your final offer. Only then should you start adding more complex terms and concepts to your value proposition. Ultimately, the customer must be able to read and understand your core value proposition within 5-10 seconds.
5 factors for the most important value proposition.
When writing a value proposition, you need to understand the main objectives of the value proposition. Value drivers are good tools to highlight all the basic elements of an attractive value proposition.
B – Advantage: What is an advantage for your customers?
O result: (reward): What are the net results for the company?
P – Perception: How should your customers, the public or other interested parties perceive you?
I have an idea: what does your product do for the customer?
T – Purpose: How can you separate different groups? How did you get to them?
Beware of the curse of knowledge
A common problem that entrepreneurs face both in the context of their value proposition and when applying for investors is the curse of knowledge. This is not a question of understanding and clarity. When an entrepreneur is so deep in his ideas, it can be difficult to imagine what it would be like to hear about it for the first time. After working in a company for so long, they know all the details of the product/service so that it can be difficult to communicate with people they are not familiar with. Sometimes the most important details are not thought through! For example, last year I was a semi-finalist in a competition where the students had to completely redesign a new company and present this idea to hypothetical investors. My idea was a 3-in-1 service product. The only negative review my faction received was that we had to sell the product in sets rather than individually. This is a legitimate criticism, of course, and we didn’t think it important to find out whether it was a person or a regular purchase. After 9 months of working on the project, this seemed obvious to us, but simple supervision cost us the transition to the final phase of the competition. The best way to do this is to give it to friends and relatives before contacting the investor to make sure you are doing a good deal.
Hamza Fazal is a reporter for The Hear UP. After graduating from the University of Abbottabad, Hamza got an internship at the NPR and worked as a reporter and producer. Hamza has also worked as a reporter for the Medium. Hamza covers health and science for The Hear UP.
Great Resignation: How to beat Great Resignation with Employee Experience
The world was forever changed in late 2019 when the Coronavirus made its appearance. Countries shut down. Streets were empty. Companies held as best they could or were forced to close their doors. Many would believe that such an event would lead to employees wanting to hold on to their jobs. Typically, large numbers of resignations signify a good economy and abundant availability of jobs allowing people to follow passions instead of necessity.
Post-COVID employee experience is much different.
For two years, and some a bit more, people were forced to spend time alone, realigning the importance of human interaction, well-being, and happiness. This drive for more personal fulfilment, satisfaction, and growth stemmed The Great Resignation.
No longer were employees basing staying with jobs out of need or comfortability. Now they look for work-homelife balance, greater satisfaction and better employee experiences, or they will leave. So how do companies face this? How do they increase employee retention and improve employee engagement?
The secret is in employee experience.
Holistic Employee Experience
There are, of course, no quick fixes for the Great Resignation, small wins can motivate and drive longer-term goals for your organization. The Great Resignation—and COVID by extension—taught many employees that life meant so much more. That the daily grind working in offices with long commutes, stress, lack of rest or relaxation, and the hustle of strenuous work weeks while normal was not conducive to happiness and mental well-being.
But this shift can be used as a blueprint for better employee experience!
Companies who work on being human-centric in ideals, strategies, and decision-making can improve greatly their chances of stemming mass exodus. Post-covid employee experience is now the new golden standard, and it looks at taking a more comprehensive and holistic view of experiences.
How can you be more holistic and how does it help?
- Think beyond probationary periods – Your employees are more important than the first 30, 60, or 90 days of employment, and yet many companies stop professional development and training after these dates. Normalize career growth, evaluations, employee 360 reports, and feedback loops to keep learning and advancement in the scope of your employees. While doing this, you’re also keeping your strategies and Key Performance Indicators—KPIs—fresh as you go.
- Communication is key – Talk to your employees about what they need, want, desire, and what their ambitions may be. Learn your people like you want them to learn your company. With transparent and open communication, you are engaging with your employees and creating an environment of consistency, openness, and inclusion—aspects employees’ desire.
- Employee-centric Corporate Culture – It may seem like the best idea is to center your company culture around the company’s values, vision, and strategies, but this is only half the battle. Integrating employee experience into the fabric of company culture ensures the company is as focused on their employees’ happiness as their own. It creates a bond to grow engagement, which has an effect on employee satisfaction and experience. As these rates increase, so to can employee retention numbers and customer experiences.
- Life and work-balance Erasure – Should your employees have to ask for more work-life balance? No, they shouldn’t. When built directly into work environments or expectations, it becomes something standard instead of something to be sought after. Examples of this could be:
- Flex hours
- Unlimited PTO
- Work-from-home or hybrid offerings
- Expanded benefits to include mental health and free resources
- Altered work hour schedules
Rise of Human Experience
Human Experience is a viewpoint that blends aspects of customer experience with employee experience, important in a post-COVID world. Instead of viewing them as separate entities entirely, companies can connect metrics and measurements of both to view a more comprehensive experience. Employees are customers—or potential ones—and as such, so too can customers become employees. With this view, it refocuses employee experiences in direct answer to the needs stemming The Great Resignation.
Ways you can use CX strategies within EX:
- Employee Journey Mapping – Like in customer experience, companies can work on mapping journeys for positions within the company overall, building in professional development and growth from the outset. They can then alter these journeys through personalization when an employee fills that role.
- Monitoring metrics – connect goals, milestones, and trajectories with metric directly linked to KPIs. Think employee net promoter score (eNPS), employee experience (EX), employee satisfaction (ESAT), and employee engagement (EE), for example, as they can correlate with operational success as well as customer success with your organization.
- View of employees – view your employees with the importance you view your customers. You cannot survive without either, and just as you court customer loyalty for more profitable relationships, so to can employee relations boost revenue, growth, and expansion.
Remote and Hybrid Work
One of the lasting effects of COVID was the desire to work from home or have the flexibility to. According to Gallup, nearly half of full-time working Americans—45%—are still working remotely. White collar workers have even higher percentage, coming in at 70%. After the shutdown, many leaders were surprised to find employees still wanted to work remotely. The Pandemic exposed an internal need for conducive work environments and flexibility.
The office and all it entailed wasn’t as attractive as some leadership believed.
It was agile leadership who switched to maintaining remote or hybrid options who won out against competitors. Record job openings only further highlight how living is more important, and work can no longer be focused on only paying bills. Organizations who shift better with their employees retain talent better.
Remote work is not the only fix, but it does show how views of work’s place have vastly changed.
Act on Meaningful Feedback
Closing the loop between you and your employees is more important than ever before. Simply hearing them is not enough. Active, empathetic listening pair with actions on a consistent basis is the wining combination. Employees not only want to know they are heard but that their input is valued.
Regularly checking in with your employees, and not only attaching it to their performance, creates a culture of partnership.
Ways to gain meaningful feedback to inspire data-driven action:
- Employee 360 Review [LN1] [SP2] – not to be confused with an employee evaluation, the 360-degree review is a way for all employees to gain feedback from peers, subordinates, and managers to assist employee self-evaluation.
- Pulse checks – a powerful anonymous survey tool. Pulse checks are in between annual reviews and keep the feedback coming for HR initiatives, but it can also inform business strategies that are employee-focused as well.
- Surveys – From satisfaction to engagement, the best thing you can do is ask your employees. Working from assumptions can lead you down costly mistakes. By asking directly you can get their true opinions—think of using anonymity to influence candid responses.
The biggest takeaway from this is: employee experiences is an important part of operational success. The evolution of its importance and what it means cannot be discounted. Doing so can led to higher employee turnover rates and you won’t retain your best talent. As employee experience continues to change, the forward-thinking companies with innovative leadership will make it to the top.
[LN1]Would it be okay to tag our template here?
Yes, we can [SP2]
Khalil ur Rehman is a proud born and raised in Abbottabad. Khalil has worked as a journalist for nearly a decade having contributed to several large publications including the Yahoo News and The Verge. As a journalist for The Hear Up, Khalil covers climate and science news. [email protected]