Let’s face it. The market is saturated with products and services of all kinds. Whether it is a new technology, fashion or new yoghurt brand, it is hard to find something that hasn’t been invented or seen before.
And this when the value becomes critical. The value proposition is something that sets you apart from the rest. It is that one (or more) element or simply a reason which establishes your uniqueness and provides your potential customers with clear value.
Inbound Marketing experts Hubspot explain the value proposition in this way: “Your value proposition is your unique identifier. Without it, people don’t have a reason to work with you over somebody else.”
At QC Accountants, we always encourage our clients to ask themselves “what do I do better than my competitors, or why do my customers choose me over my competitors”
How do I create a value proposition?
The value itself can be anything, from the price, style, delivery, or customer service to status.
Most important here is to align the rest of your business around your value proposition.
When designing or creating a value proposition, you need to answer the critical question. Why? This question should help you to identify your purpose, the problem you are trying to solve and the solution for your potential customers.
The “why” is a powerful word that helps you differentiate your product or service from the rest and the stepping stone to why your customer should choose you over the competition.
But do you really know your customers?
There is a common saying in Accounting in respect to deciding on your value proposition that “A client doesn’t go shopping for a Kia and walk out with a Ferrari”
While this is largely tongue in cheek, it establishes that the client looking for a low cost provider (Kia) is different to a niche provider (Ferrari).
Broadly, you need to decide if your business is going to provide value in one of the following areas:
· Cost leader;
· Provide the highest quality;
· Provide a unique or niche service.
It is also important to regularly (at least annually) review your value proposition to ensure it still currently reflects the needs of your clients.
How can QC Accountants help your business?
The team at QC Accountants understand every business is different, and as your accountant, we want to be part of your success and provide you with the right practical advice, solutions and business support. Get in touch today. Please give us a call at (07) 5593 6060 or book an appointment online here.