The value proposition, it’s the evidence that you provide to customers that they should buy from you instead of your competitors. The concept, however, goes deeper than this and can be separated into four distinct types.
The Primary Value Proposition
The primary value proposition is that of the brand itself. It’s evidence that a company provides customers that it can meet their needs reliably. It requires the combination of a promise to solve the customer’s problems and brand credibility to back it up.
Prospect-Level Value Proposition
Unless you have just one or two products or you target a niche market, very different types of people likely buy from you. A prospect-level value proposition is one where you focus on a specific kind of buyer or “persona.” In other words, you tailor your value proposition depending on who will see it.
Product-Level Value Proposition
The product-level value proposition is independent of the primary value proposition. A customer, for instance, might understand the intrinsic quality of the Rolex brand, and trust it to make great watches, but what about Rolex cufflinks? The primary value proposition is not as strong.
The product-level value proposition is where companies tell the customer why they should buy product A over any other offering on the market. Rolex, therefore, would need to prove that its cufflinks are great too.
Process-Level Value Proposition
Finally, the process level value proposition is where you provide value to customers for every action that they take. So, for instance, if you want customers to open marketing emails, you need to give them a compelling, value-driven reason for doing so.