A value proposition is a marketing statement that explains to customers why they should choose a product or service.
Writing a value proposition can be a useful exercise for new products. It forces a product owner to clearly articulate the what/why/who/how of their offering. This can be especially difficult for early stage companies or products defining a new category.
A strong value proposition should clearly communicate the benefits in a way that’s easy to understand. Try to avoid technical jargon buzzwords and just focus on the basics:
- Who is the product for?
- How do you solve the customer’s problem?
- Why should they choose your product over alternatives?
- What are the key qualities of your product?
Value proposition is often confused with a product’s Unique Selling Point, which more specifically defines how the product differentiates from competitors.