A while ago, I had put together the above video offering a simple way for folks to discover and articulate their value proposition.
Well, recently participants in San Diego’s NEXT program (powered by Google for Entrepreneurs) were asked to view it… and some wanted to hear an example geared more towards a physical product than an intangible one… or an experience.
So, of course, I immediately thought of eggs.
(No really! Bear with me on this one… )
Discovering and Articulating the Value Proposition of an Egg
Let’s assume that I as a customer need eggs. I could buy my eggs from my local Vons grocery store, but I could also buy them from my local Whole Foods Market, Windmill Farms market, or even go to one of San Diego’s many Farmers Markets to buy my eggs.
Let’s also assume that in every case, you sell me eggs.
But the value proposition for every purchase is significantly different:
[simple_table cols=”Your business is:, You sell me:, … but what I really buy is:, … because in my heart of hearts I believe:, … and deep in my gut I have a fundamental need for:” data=”Vons, an egg, a commodity, an egg is an egg is an egg, cheap food for my family at a convenient location, Whole Foods Market, an egg, a higher moral ground, chickens on steroids lay bad eggs and corporations are destroying our environment, demonstrating the strength of my social and political beliefs through the largess of my purchases, Windmill Farms, an egg, higher moral ground on a budget, supporting smaller business is good but I also want convenience, clean food for my family that I can feel good about without breaking the bank, Farmers Market, an egg, farm-to-table goods that support the little guy, local is best, community “][/simple_table]
(Reading through this chart, can you picture each distinct persona buying those eggs?)
At the end of the day, we’re talking about eggs. And I can technically buy my eggs from ANY of these places. But whether its a tablet case or exciting underwear, my purchasing decision for your product cracks the same way:
Why I choose to buy from YOU over any other place is your value proposition.
So tell me: why should I buy YOUR eggs? ;^)
I cannot wait to see what you draw forth,
