Value Proposition: How to compel your target market.

The positioning of a product to a specific target customer is an exercise that is quite critical in order to win in a competitive market. How then do we respond to the need that a customer has when seeking a product?

The development of a value proposition follows explicitly within the product development process. The value proposition exercise should indeed take into consideration the target customer intended for the said product. The exercise should itemize the customer profile and detail the unique selling points that the product has in order to then propose value that the customer cannot reject.

The initial step then in the value proposition development is to look at the customer. The exercise to define the customer profile takes priority. In understanding the customer then it is quite straightforward to follow by developing the value proposition. A deep look at the customer will indeed start by a definition of the customer and this is followed by a clarity to what the customer would have as pain points, a description of the needs, wants and emotional benefits the customer is looking for.

Once the customer definition has been accomplished then we look at the product to target the customer with in order to deep dive into the features and benefits of the product and how these will come into play to respond to the customer’s need and provide a spectacular experience to the customer.

The next step is then to craft a value proposition once the customer and product have been detailed. The value proposition is one statement that provides within it a compelling reason why the customer should then select the product being positioned for them and indeed why this product will continue to be a choice the customer makes over and over again.

The idea is that the value proposition is so compelling that with that one statement the customer resonates with the product and indeed the brand. To be able to achieve a strong value proposition then a clarity of customer and your product is essential.

Indeed, it is the most critical exercise in product positioning when an entity is able to develop a strong value proposition. This makes the proverbial difference between customer attraction and retention as they are able to identify your product as one that continuously meets their need.