Step 1: Clarify Your Brand
Identify who you are and why you’re in business in the first place—that can be done by answering the following questions:
• Purpose: Why do you exist?
• Vision: What future do you want to help create? What does the future look like?
• Mission: What are you here to do? How do you create that future?
• Values: What principles guide your behavior?
Step 2: Complete a Competitive Analysis
You need to communicate how and why your company is different, which is why a competitive analysis is vital. It helps you position yourself compared to the competition, specifically in the market. It also gives you valuable insight into how other brands are marketing themselves so that you can differentiate yourself.
Step 3: Know Your Audience
It’s crucial that the value proposition speaks to the audience and not at them. Identify your key audience demographic and psychographic which will give insight into who these people are, what they care about, and how to communicate with them. This helps better tailor the value proposition to speak to the audiences’ core needs.
Step 4: Perfect the Presentation
There is no specific allocated structure to how the value proposition should be presented (two sentences, a headline, blurb, and a few bullets, etc). It’s important that it is communicated succinctly, but impactful.