Scale Up Your Business Podcast
A value proposition is what will ground you in your business. Acing it at the beginning of your journey can massively influence how successful your outcome will be. So, in this episode of the Scale Up Your Business Podcast, Neil guides you on how to make a value proposition for your business. According to Neil, the key questions you should ask yourself is “What is the main problem I need to solve?” and “How can I be better than everyone else?” You should also have clarity on what you’re about to do so it can adequately reach the target audience.
Listen in today as Neil discusses the elements of value proposition, the process of making it, and the top tactics you can adopt so you can develop a unique one for your organisation.
Motivation = perceived benefits of what you offer – perceived costs
“54% of companies that do nothing to optimise their value propositions have significantly lower conversion rates in sales than the ones that do.”
Understand the market. Know who are your customers and who are your competitors. Speak to your customers and find out what they need.
Elements of a value proposition:
The list of benefits
What makes a good value proposition?
It has to be clear and concise.
It shows the end benefits for the customers.
It should explain why and how you’re offering is better.
It needs to be read and understood in under five seconds.
Top tactics of developing your value proposition for the organisation:
Clearly explain your products and services.
Clearly explain why your customer should choose you among the competitors.
Develop a value proposition for special products/services.
Target specific value propositions for specific buyer personas.
Do extensive research about your competition.
Test the value proposition in various media channels.
“Value proposition isn’t just a product or service you agree to deliver to the customer; it’s the ingredient of your business that solves the problem.”
“It [visual content] ends up being the foundation of your marketing plan.”
“You need to be confident and assured why you’re better than everyone else.”
“Marketing is experimentation.”
Scale Up Your Business Podcast: Why You Must Have A Personal Brand | Apple | Omny | Stitcher
ABOUT THE HOST
My name is Nick Bradley. I’m an entrepreneur, author, speaker and investor.
My background is in growing and scaling VC, and Private Equity backed businesses.
Having successfully built, bought and sold a number of companies, and removed myself from day-to-day operations, my focus now is on helping entrepreneurs get to where they want to be, in business and in life. As well as investing in growth businesses and backing turnarounds - with the ultimate aim of creating value from significant capital events.
I’m passionate about personal and professional development - showing up and being the best version of myself ... every day.
My bigger vision is to help bring entrepreneurial skills, experience and mindset to people in developing nations - so they can follow their dreams, live life more on their terms - utilising entrepreneurship as a global force for good.