Another word for a value proposition is a benefit statement. A value proposition or brand statement promises what a product or service can do for the customer. It is the core of why someone would want to buy from you and not your competitor.
A benefit statement articulates the specific benefits that a product or service provides. It answers the question: “What’s in it for me?”
By clearly articulating the benefits of your product or service, you can more effectively sell to potential customers.
When crafting a benefit statement, it is essential to be as specific as possible.
This means using numbers and concrete examples whenever possible.
For example, ” Our financial software will help you save time and money by automating your bookkeeping” is much more effective than “Our financial software is the best on the market.”
If potential customers can immediately see how your product or service can help them, they will be more likely to be interested in what you have to offer.
Should a benefit statement talk about features of my product or service?
Your benefit statement should focus on the outcomes and results that your product or service can provide for the customer.
While mentioning features in your marketing is essential, these should not be the focus of your benefit statement.
Your benefit statement should only be about 2 or 3 sentences long.
So, getting into too much detail about what your product or service does will only muddle your message.
Keep it simple and to the point, so that potential customers can easily understand what you are offering and how it can help them.
How benefit statements are helpful
Benefit statements are helpful in several positive ways.
Benefits statements can help you:
Speak to less unqualified leads
If you are clear about what you offer and whom it can help, you will be able to weed out leads who are not a good fit for your product.
This saves you time and energy in the long run because you are not trying to sell to people who will never use your product.
Get better results from your marketing campaigns
You can create more targeted marketing campaigns when you know your product or service’s benefits.
You can speak directly to the needs of your target market and show them how your product or service is the best solution for their problem.
Doing this makes you more likely to see a positive return on investment from your marketing campaigns.
Improve your sales and elevator pitch
Your benefit statement can be used as the foundation for your sales or elevator pitch.
If you know what results from your product or service can provide, you will be able to sell it to potential customers more effectively.
You can use concrete examples and numbers to show the customer exactly how your product will improve their life.