How to create a customer value proposition
Exactly what goes into a customer value proposition (CVP) is widely debated around the world. So, we spent some time researching and putting together a few simple thoughts to consider when creating yours.
What is a CVP?
In simple terms, it’s a positioning statement that explains the benefit you provide, whom you provide it for and the unique way you provide it. Think target buyers, pains you solve for them and why they should consider using your company.
PS. It’s not your strapline!
Why is it important?
Differentiation sets you apart from competitors and helps to attract potential customers. If your CVP is grounded in reliable market research, it can be your business or brand’s true north in stormy weather.
Here’s a tip: Try to explain it in a single sentence.
What does it consist of?
When you craft your CVP, consider the following:
- Your position: How do you want customers to perceive you?
- The benefit: What exactly is the value you add to customers?
- To whom: Who is your target market or ideal customer?
- How you deliver: How does your process look?
- Why you’re distinct: What one thing makes you different?
These building blocks are your secret ingredients.
Can you describe your CVP clearly and simply? If not, you have a fundamental flaw in your positioning. Set time aside to rethink it, or feel free to chat with us.
How we help you
At We Explain Stuff, we create space for leaders and their teams to have strategic conversations. We do this through our online strategy workshops. After a strategy workshop, we will often create an infographic first. It’s the easiest way to ensure the value you add is easy to understand at a glance.