Before I tell you everything you need to know about the value proposition, ask yourself the following important question.
Where do you feel the most pressure in your business?
Is it people? Marketing? Operations? Finance?
For most business owners, people and marketing are the top two areas with which they need more assistance. And coincidentally, it is these two areas that are essential to growing and scaling your business.
Remember these two things
1. Businesses don’t move people. People move the business.
2. Everything is marketing. Marketing is everything.
The number one aspect you need to realize about successful, strategic marketing is that you need to have great value propositions.
Without them, why should your prospective (and even past or current) clients buy your product or service?
Why are value propositions so important?
Value propositions help your potential clients and customers truly understand the value of your company’s products and services. It helps them visualize how your offering benefits them.
At the end of the day, every business is a people business.
You’re in business because you want to help solve a problem for people. Whether you’re in landscaping, car sales, education, real estate, or any other industry, you are servicing individuals.
Therefore, you need to be mindful of that as you develop your value propositions.
Crafting value propositions
Now, all you have to think about when creating your value propositions is how your product or service will have a positive impact on your customers’ lives.
For example, with Cardone Ventures, we offer business owners a multitude of programs and services that are geared toward helping them 10X their business.
So, say we want to promote a Marketing Essentials Workshop. Here’s what some of the value propositions would look like:
- Increase your revenue with a data-driven approach.
- Uncover your ideal customer profile to expand your reach.
- DOUBLE your conversions by implementing a data-backed strategy.
All of these value propositions show your clients what the result would be for them if they were to sign up for this event.
In conclusion, your value propositions should support the messaging of your business. You do so by tracking your key performance indicators and using stats and data to support this messaging.
Owning and operating a business can be difficult, especially if it’s your first one. Most days, you feel you have to do everything yourself, but it doesn’t have to be that way.
My team and I have developed a program that makes it that much easier to understand how successful businesses work. 10X360 breaks down the four core pillars in business and what processes to have in place to scale to 10X heights.