How to Write a Quantifying Value Proposition for Your Product
By Storeplum Editorial
Posted | 7 min read
Often, customers try to see what benefit they might get while thinking about buying your product on your online store.
The idea of crafting your value proposition is to determine how the benefits of your product turn into a value that your customers get out of it. It gives a concrete understanding of what measurable benefits your product offers.
Value proposition is not only limited to individual products that you sell on your website but it should also reflect in your brand- Landing pages, product descriptions, headlines, blogs, all of it. Several case studies show that value propositions are directly related to customer conversions.
poor value propositions
What is a value proposition?
A good value proposition always aligns with your customers top priority. Your customer’s top priority can be only known to you if you understand your target customer segment better. A simple exercise of buyer persona identification will help you to do so.
Your product may have more than one benefit. For example, if you are selling premium organic food products on your website, you may be solving multiple problems for your customers like ease of availability, ready to eat- saving time, eco friendly packaging, etc.
A good value proposition focuses on what potential customers can gain or benefit from the product rather than focusing on details which are less important to them like- export quality material, facility with latest technology to improve product etc.
Customers subconsciously ask themselves- What value am I getting from this product?
Since they are willing to invest their time and energy in understanding and buying your product, it is important to align your product benefits with the value which your customer is looking for.
Aligning product benefits with Buyer Persona values.
Consider our example Buyer Persona, Anjali Saxena’s top priorities.
Let’s revisit Anjali’s motivation and pain points-
- Finish a triathlon by next year
- Favorite healthy food brands are mostly out of stock and not available for long in her area
- Preparing and carrying healthy meals for each day is too much work.
Now, as a premium organic food brand, if HealthyFoods position themselves like this -
HealthFoods is the most affordable organic food brand out there
As you can see it vividly, an affordable healthy food brand is not the need of the hour for Anjali. Since this value proposition is not aligned with Anjali’s highest priority, it is going to receive the least amount of attention from her and sooner will fall into her not-so-important things to do.
On the other hand, if HealthyFoods has the following proposition-
Get 2X more protein in your breakfast with our ready to eat packaged meal plans
The above value proposition resonates with our buyer persona Anjali as it is directly solving her pain points where preparing and carrying healthy meals every day is a big task.
HealthyFoods just offers the right solution- a ready to eat packaged meal plan so that Anjali can buy the plan as a subscription without worrying if it is going to be out of stock soon. Had our persona been price sensitive, then the former value proposition would have made sense.
That is why it is extremely important to build a right buyer persona. Your entire marketing strategy depends on it.
Make one mistake in identifying a persona and it is going to hurt your marketing efforts significantly.
Keep It Simple
Always remember, less is more!
If you understand your buyer persona well, then it may not come as a surprise that your value proposition should speak your persona lingo. It’s easier for people to relate with you if you speak the same lingo. So, a good idea would be understand how your target audience operates, does a certain job, reacts to a certain situation, etc.
HealthyFood can resonate well with athletes if they use this lingo-
“Our protein bars provide energy till the last lap”
“3 new flavors for the triathlete in you”
“Beach start your day with a healthy bowl of oats”
As someone who is actively preparing for a triathlon, the terms like last lap, triathlete, beach start are very much relatable, indirectly improving conversions.
After understanding your persona, focus solely on how your products can add value to your persona. Value can be proposed not only by catchy lines or description but also by visuals.
Statistics show that people understand better through visuals. Use them to your advantage. A before-after example is an extremely effective way to let people know the benefits of your products or services.
before after value proposition
When done right, a good visual alone can drive masses of people to your website in hours.
Quantifying value proposition
Another great way to seek attention of your persona is to quantify the benefit that they will get if they use your product. Quantification is measuring your product benefits in numbers.
See how our buyer persona would react to the following value propositions-
“Save 2 hours daily without compromising on your power meal”
“Your local healthy food for just Rs.1999 per month.”
“Gain 22% more muscles with our new plant based protein bars.”
If our persona Anjali is particularly keen on saving time while preparing healthy meals each day, then with this value proposition, Anjali can immediately see the savings in hours she can get if she uses HealthyFoods.
Most probably, she has also started to make plans with the time saved from the daily grind of preparing healthy food.
Starbucks Value Proposition
Starbucks' value proposition is based on providing consumers with a premium, high-quality coffeehouse experience that goes beyond just the beverage itself. Starbucks aims to create a welcoming and comfortable atmosphere where customers can enjoy their coffee and connect with others.
One of the key aspects of Starbucks' value proposition is the quality of their coffee. Starbucks sources high-quality beans from around the world and has developed a unique roasting process that brings out the best flavors and aromas in the coffee. This results in a premium coffee product that is distinctive and highly sought after by consumers.
Starbucks' value proposition goes beyond just the quality of their coffee. The company also places a strong emphasis on creating a unique and welcoming atmosphere in their stores.
Starbucks stores are designed to be comfortable and inviting, with cozy seating areas and free Wi-Fi that encourages customers to linger and connect with others.
This has helped to establish Starbucks as a "third place" in addition to home and work, where customers can feel at ease and build community.
The company also has a strong commitment to ethical and sustainable sourcing practices, and the company is actively engaged in various social and environmental initiatives to make a positive impact on the world.
Starbucks' value proposition is based on offering a premium coffee product, creating a comfortable and inviting atmosphere in their stores, and promoting ethical and sustainable business practices. This has helped to establish Starbucks as a leading coffeehouse brand that is trusted and respected by consumers around the world.
Nike Value Proposition
Nike believes that everyone is an athlete and that sport can help people unlock their true potential. That is why Nike's value proposition is to bring inspiration and innovation to every athlete around the world.
The company is known for designing and manufacturing high-quality athletic apparel, footwear, and accessories that are specifically engineered to enhance performance and support the needs of athletes.
Nike's value proposition is also built around its brand image and marketing. Nike has invested heavily in building a strong and recognizable brand that is associated with excellence, achievement, and inspiration.
The company's advertising campaigns often feature high-profile athletes and celebrities, which helps to reinforce the idea that Nike products are designed for winners and high achievers.
Another key aspect of Nike's value proposition is its commitment to social and environmental responsibility. Nike is actively engaged in various initiatives to promote sustainability, reduce its carbon footprint, and support communities in need.
This has helped to establish Nike as a socially responsible and ethical brand that is trusted and respected by consumers.
Google search campaigns are an effective way to drive traffic to your website. Google's key value proposition with search campaigns is the ability to reach masses with your brand message at a significantly less cost.
A unique value proposition has to align with your buyer persona. Spend time in understanding who is the real buyer of your product. Once you identify it, keep your messaging simple without any jargon. Numbers help to quantify your offering.
Coca-Cola's value proposition is built around its brand promise, which is to deliver happiness and refreshment to consumers. The company aims to do this by offering a consistent, high-quality product that is available in a variety of packaging and serving options to suit the needs and preferences of different consumers.
It’s time for you to come up with value propositions which reflect the true benefit of your product to your buyer persona. If you haven’t already, we strongly recommend reading this guide to build your buyer persona.
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