We are all facing more competition than ever before.
Our customers have a limited spend available, and in these economic times, are getting fussier about how they spend it.
To really stand out from your competitors and break through the clutter your potential customers see in the marketplace, your business needs a clear customer value proposition (CVP).
Sometimes, especially when we have been in business for a long time, we can miss the fact that either our market has changed or that the customer’s perception of the value we think we offer has changed.
To be sustainable and to grow, it is critical for every business to regularly revisit their CVP and make sure it is still right and compelling.
To get to the heart of what is truly important and valuable to your customers, some relevant questions to consider are:
- Who is your ideal target customer?
- What does that customer really want?
- How do you fit with what the customer finds important?
- What is truly special about your offering?
As a business owner you need to honestly consider these questions from the perspective of your customer – and that may involve getting their input !
With that information, you can then start to mould your offering and marketing to benefit your business.
Can you clearly articulate your CVP in 1 or 2 sentences……and are your business decisions and activities driven by it?