How to write a value proposition? Defining 6 core elements of Value Propositions

In this video Mat Shore innovation expert explains in 6 simple steps the best way to write a Value Proposition.
First one element of Value propositions is a target and definition of the target by segmenting the target into more specific focused people.
• Based on their attitudes
• Based on their beliefs
• Based on their behavior
• Based on their location, gender, age,
We can start to narrow down who it is we're talking about and that's the essential first step of creating a value proposition and if we're in business-to-business there may be multiple people in that value chain that we need to consider the next part of any good concept.
Value proposition is a definition of what problem we intend to solve which we are going to call the insight and the insight relates directly to the target it will be the target biggest unmet need and they will have many problems of unmet needs but we are focused on the one that is most significant to them because in solving that escalates the value of our proposition
Next thing our third element is to understand what alternatives already exist in the market for the customer to resolve that problem who directly or indirectly already delivers against that problem and why they fail to adequately solve it because of course if the alternatives are solving the problem perfectly well already then the size of the opportunity is limited for us.
Fourth aspect of our value proposition will then be our promise what we call the Benefit. We don't really get to control the benefit.
The benefit is a function of the insight if the customer says to us do you know what my biggest problem is this is my biggest problem then the benefit we offer can't be anything else. It has to be a commitment to solve that problem nothing else. We can't have multiple benefits we need only have to one benefit to solve the big unmet need of the customer but of course the customer will then say well hang on a minute I don't believe that you can promise that I don't believe you can make my biggest problem go away give me a reason to believe.
That you can so the fifth element of a good value proposition is what we call the reason to believe the proof that we can make the benefit come to life and deliver the promise to solve the insight despite the fact all those alternatives have failed to do so in the past
Then ultimately most good value propositions end on a point of superiority some people call it a discriminator a differentiator a USP a unique selling point ultimately what we want to be able to say is in this value proposition that we're offering you. we can deliver the benefit to a high degree of uniqueness and superiority over everything else that exists in the market
These all contain those six core elements and when they're presented to the customer in the form of a written concept they make the story believable and compelling and over many years that format has been proven to test well.
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About MatShoreInnovation?
Mat Shore is an expert on Innovation having trained 35,000 people worldwide on the subject of Value Propositions and Insights since his company Outside In was founded in 2003. His clients include Philips, Samsung, GE and Citrix. You can find out more about Mat Shore from www.matshore.com or subscribe to his other Value Proposition Training Videos at MatShoreInnovation on RUclips.

[@oscarm.1417]

I am a successful businessman. It really all comes down to this very basic principle. Understand it and you will do well; fight it and you will fail.

[@llihak]

Thinks for this. Very helpful. Very informative. And I really appreciate the extended description. I wish more content providers would at least include something similar if not embed the video in a blog post that might be updated occasionally. The benefit to me is that my memory is less than perfect and I can store this in my external memory: Evernote, OneNote, Pocket, etc for later. I think the benefit to them would be greater reach on the internet as well as better SEO.

[@iribilangbosss7391]

are you a bot?

[@faissalloussaief149]

Less is more.
You just dial it in. Lovely.
Thank you.

[@soniawisdom4170]

Thank you so much but am in love with the lecturer back there😂😍

[@ChrisJanke]

Great video. This is going to help me to get going on my website.

[@marleyswindells8680]

Great video.

[@victorsullivan3281]

You probably have a lot of updates from two years ago and I really value what you have to say.

[@salvadorgarcia8128]

Thank you Mat

[@sayonilmitra]

A nice detailed one

[@sameshwijeweera9311]

Super

[@doraemon636]

Wow interesting video

[@doraemon636]

Wow

[@cimamrasang1250]

2:10

[@victorsullivan3281]

Can you remake this video?

[@ninjawarrior_1602]

From accent it seems he's a Britisher, is it so?