Write a value proposition for a niche or new product
1. Create a spreadsheet with columns for Feature, Unique, Related pain points, Severity, Frequency, Total score, and Desirable outcome.
Start listing your product’s key features in the Features column. Enter Yes in the Unique column if the feature is unique compared to competitors, and No if it isn’t.
2. List customer pain points for each feature in the Related Pain Points column, and enter a score of 1-5 in the Severity and Frequency columns.
Severity scale: 1: People have a problem with this? I don’t even think about it 3: It would be cool if this didn’t happen, but it’s not wrecking my life. I generally just work around it. 5: This is intolerable or disastrous! It makes me feel awful or miserable when it happens. Frequency scale: 1: Less than once a year. 2: A few times a year. 3: At least once a month. 4: At least once a week. 5: Daily or more often.
3. Add up the values for each feature in the Unique, Severity, and Frequency columns, assigning 5 for Yes answers and 0 for No answers, and enter the result in the Total score column.
4. Enter a goal that the feature helps customers to achieve in the Desirable outcome column.
5. Combine pain points and desirable outcomes for your top-scored features into value propositions.
Use one of these value propositions formulas. Achieve enhancement with low-awareness audiences: [Achieve specific desire] with the [only/largest/most x] [product-type] that [does valuable unique thing]. Eliminate pain with low-awareness audiences: [Eliminate problem] with the [only/largest/most x] [product-type] that [does valuable unique thing]. See SPS Commerce EDI value proposition example below.
6. Create a spreadsheet with columns for Value proposition, Specificity, Uniqueness, Desire, Clarity, Succinctness, andFinal Score, and score your value propositions to find the best one.
Enter a score out of 10 in the Specificity, Uniqueness, Desire, Clarity, and Succinctness columns, then add those scores for each value proposition in the Final score column. Choose the headline with the highest final score (column D).