{"id":2477,"date":"2019-08-26T04:45:00","date_gmt":"2019-08-26T09:45:00","guid":{"rendered":"https:\/\/ellevatedoutcomes.com\/?p=2477"},"modified":"2026-06-16T13:04:03","modified_gmt":"2026-06-16T13:04:03","slug":"whats-a-value-proposition","status":"publish","type":"post","link":"https:\/\/zudigitest.com\/ellevatedoutcomes\/whats-a-value-proposition\/","title":{"rendered":"What&#8217;s a Value Proposition?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Hi, friends. Happy last week of August! In honor of back to school time, we&#8217;re going back to [business] school, by picking up our Building Your Business Plan series with the ever-popular (but often confusing) value proposition.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The value proposition is a tricky one. It&#8217;s difficult to put in definite terms because a great value proposition isn&#8217;t about anything concrete. Many people believe that it&#8217;s a list of product features, yet it&#8217;s anything but. The value proposition states a company&#8217;s (or product&#8217;s) benefits, differentiation, and captures the client&#8217;s perception.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are a few things to think about when crafting a value proposition&#8230;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><br>Features &amp; benefits are two different things.<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A product feature is an objective fact.&nbsp;We can observe a product or service and state an undeniable truth about what the product does or its characteristics. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A benefit, on the other hand, is deeper; it&#8217;s transcending in a way. The benefit is the lasting takeaway from the product or experience. We can think of it as, &#8220;This product allows me to __________.&#8221;&nbsp;You could say that it&#8217;s the product aftertaste, in a way. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, in working with <a rel=\"noreferrer noopener\" aria-label=\"Ila Bridal (opens in a new tab)\" href=\"https:\/\/www.ilabridalstudio.com\/\" target=\"_blank\">Ila Bridal<\/a>, a wedding dress boutique in Nashville, we articulated this feature and benefit of ready-to-wear dresses:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Feature: a ready-to-wear dress costs (way) less than buying a wedding gown the traditional way. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And while saving money is great(!), that&#8217;s not actually the benefit&#8230;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>Benefit: the bride feels smart for putting her money toward longer-lasting investments, that she values more, like\u2026<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>down-payment for her house<\/li>\n\n\n\n<li>honeymoon <\/li>\n\n\n\n<li>food at the wedding<\/li>\n\n\n\n<li>helping loved ones get to the wedding or creating an unforgettable experience for guests <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Ila Bridal offers her brides the feeling that they&#8217;re stylish <em>and<\/em> smart. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><br>Differentiation<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As the great Dr. Suess said, <\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Why fit in when you were born to stand out?<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Remember how we pulled ourselves away from the <a rel=\"noreferrer noopener\" aria-label=\"competition (opens in a new tab)\" href=\"https:\/\/zudigitest.com\/ellevatedoutcomes\/2019\/07\/22\/my-favorite-ways-to-evaluate-the-competition\/\" target=\"_blank\">competition<\/a> a few weeks ago? Bring those differentiators to the foreground and make sure that your stated benefit helps you stand out from the pack.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Good differentiation is:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>simple,<\/li>\n\n\n\n<li>relevant to its <a aria-label=\"target market (opens in a new tab)\" href=\"https:\/\/zudigitest.com\/ellevatedoutcomes\/2019\/06\/10\/the-riches-are-in-the-niches-target-market\/\" target=\"_blank\" rel=\"noreferrer noopener\">target market<\/a>,<\/li>\n\n\n\n<li>(actually) different,<\/li>\n\n\n\n<li>credible,<\/li>\n\n\n\n<li>consistent, and<\/li>\n\n\n\n<li>can be extended to future products.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><br><a rel=\"noreferrer noopener\" aria-label=\"Perception is Reality (opens in a new tab)\" href=\"https:\/\/zudigitest.com\/ellevatedoutcomes\/2017\/07\/17\/2017713my-biggest-lesson-from-the-2008-financial-crash\/\" target=\"_blank\">Perception is Reality<\/a><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Lastly, when we craft a value proposition, we should proactively project &#8220;How do I want customers, colleagues, and the competition to perceive us?&#8221; (not too dissimilar from a <a rel=\"noreferrer noopener\" aria-label=\"resume (opens in a new tab)\" href=\"https:\/\/zudigitest.com\/ellevatedoutcomes\/2018\/01\/29\/3-ways-to-make-your-resume-cv-stand-out\/\" target=\"_blank\">resume<\/a>). Value is 100% in the eye of the beholder, so if we&#8217;re not articulating a benefit that increases the client&#8217;s quality of life, then there&#8217;s no actual value at all. Here are 3 questions to ask:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>What will the offer allow the client to do?<\/li>\n\n\n\n<li>Based on our branding, pricing, and other competitors, how do we want clients to perceive us?<\/li>\n\n\n\n<li>What does the client perceive they&#8217;re spending in exchange for this this benefit? What&#8217;s the price relative to their view of the world, and what&#8217;s the cost of doing business together, <em>unrelated <\/em>to price?<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\"><br>As <a rel=\"noreferrer noopener\" aria-label=\"ConversonXL (opens in a new tab)\" href=\"https:\/\/conversionxl.com\/blog\/value-proposition-examples-how-to-create\/\" target=\"_blank\">ConversonXL<\/a> says, the &#8220;value proposition is a promise of value to be delivered.&#8221; And of course, stating a promise isn&#8217;t the hard part. I would even go so far as to say that keeping the promise isn&#8217;t the hard part. The challenge is to capture what a client <em>values<\/em> and convert that intangible, indelible mark into words.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><br>image from <a rel=\"noreferrer noopener\" aria-label=\"Ila Bridal (opens in a new tab)\" href=\"https:\/\/www.ilabridalstudio.com\/appointment\" target=\"_blank\">Ila Bridal<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Hi, friends. Happy last week of August! In honor of back to school time, we&#8217;re going back to [business] school, by picking up our Building Your Business Plan series with the ever-popular (but often confusing) value proposition. The value proposition is a tricky one. It&#8217;s difficult to put in definite terms because a great value [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":2479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[479,482],"tags":[254,211,101,77,212,243,78,255,256,232,81,216],"class_list":["post-2477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ceo-skills","category-finance","tag-benefits","tag-building-your-business-plan","tag-client","tag-client-experience","tag-clients","tag-competition","tag-differentiation","tag-features","tag-ila-bridal","tag-perception","tag-value","tag-valueproposition"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What&#039;s a Value Proposition? - Ellevated Outcomes<\/title>\n<meta name=\"description\" content=\"A compelling value proposition is artistic yet simple. 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