The first rule of business is to make people’s lives easier. Yes, it’s a cliché, but clichés are usually true. We all bring value to our customers, and that value is what we monetize. Whether that value is delivered by making sure our users don’t have to manually write with simple word-processing software; or we make an individual’s computer safer with anti-virus or anti-malware programs; or we help them store files in the cloud; or we make it easy to analyze data – we all make our customers’ lives less difficult.
However, if you’re unable to communicate how your product or service improves your customers’ lives, you’ll have little success in getting people to buy it. So, in addition to having a great product or service, one of the main things about selling is the ability to clearly illustrate the value of what you’re offering buyers. Writing a great value proposition is an important aspect of this process. Basically, your value proposition concisely explains why someone would need your product. As the definition from Investopedia notes, “Companies pay a high price when customers lose sight of the company’s value proposition.”
This infographic from Quick Sprout offers some additional information into the benefits of creating a value proposition, guides you through the process of doing that, and shows some examples of value propositions from successful online businesses.