Creating a value proposition
via http://proto.io (I’m playing round with the app)
Choose your hook, focusing on value to the customer and run with it.
Some other bits of advice when crafting a value prop:
“Almost every client I’ve ever worked for who is seeking greater market share has had no clear value proposition.”
“If you design for everyone, you design for no one.”
“Be different, but make sure your difference matters. The key to unlocking what’s different about your product is deriving your UVP directly from the #1 problem you are solving. If that problem is indeed worth solving, you’re more than halfway there already.”
“What the customer thinks he or she is buying, what he orshe considers value is decisive – it determines what abusiness is, what it produces, and whether it will prosper.And what the customer buys and considers value is never aproduct. It is always a utility – that is, what a product orservice does for him or her. And what is value for thecustomer is anything but obvious.”
Methods for creating a value proposition:
Method #1 – The elevator pitch format
For (target customer), who has (customerneed), (product name) is a (market category)that (one key benefit), unlike (competition),the product (unique differentiator)
Method #2 – The Zag format
Our brand is the only ____________ that _____________
Method #3 – Focus on finished story benefits
You’ve probably heard about the importance of highlighting benefits over features. But benefits still require your customers to translate them to their worldview. A good UVP gets inside the head of your customers and focuses on the benefits your customers derive after using your product. So for instance if you are building a résumé-building service:
– a feature might be “professionally designed templates”
– the benefit would be an “eye-catching résumé that stands out”
– but the finished story benefit would be “landing your dream job”.
Method #4 – Create a high-concept pitch
Another useful exercise is to create a high-concept pitch popularized by VentureHacks in their e-book “Pitching Hacks”. A high-concept pitch usually builds on other familiar concepts to quickly get an idea across and make it easily spreadable. Unlike a UVP, a high-concept pitch is best used in conjunction with something else that sets the right context such as an elevator pitch.
– YouTube: “Flickr for video”
– Aliens (movie): “Jaws in space”
– Dogster: “Friendster for dogs”
STARTUPS ARE HARD
If you need help turning your startup idea into a successful web product, visit www.spookstudio.com
or contact me via Twitter @welovelean
. I offer a free 20 minute sanity check
for startup founders to share and discuss their ideas in confidence via Skype.