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Online Value Proposition

What Is Online Value Proposition?

It is a short and comprehensive answer to a client’s “What’s in it for me?” inquiry.

How To Create Online Value Proposition

Tips on how to develop a value proposition:

  • be brief, honest, and concise;
  • find what differs you from the competition;
  • make sure it matters to your clients;
  • test OVP ideas.

When writing a unique value proposition, forget about the company’s financial aspirations for a moment, and focus on real buyer’s gains.

What’s Amazon’s OVP?

Amazon’s VP is simple: provide a wide item variety at low prices with top-fast delivery. They offer free shipping on almost all purchases, as well as free returns within 30 days of purchase. They also have an Amazon Prime membership, which offers free 2-day shipping on many items and access to exclusive deals and content.

5 Types Of Value Propositions

Online value proposition examples by type:

  • Unique (UVP) — based on “one of a kind” attributes or features;
  • Differentiation (DVP) — based on the trust and awareness you build among clients;
  • Benefit (BVP) — based on unique product or offer’s benefits;
  • Solution (SVP) — focuses on addressing key pains with unique or strongly beneficial solutions;
  • Bundle (BVP) — based on beneficial “buy a lot, pay a little” concepts.

3 Proven Ways To Turn Online Prospects Into Customers

  • Make it easy for them to buy something from you;
  • Create a premium offer they can’t get anywhere else;
  • Give them something free and make payments easy.

You can find a basic value proposition canvas, but it is better just to formulate a few ideas from your heart. Consult your team, not someone’s templates, and check on your vision and mission, not the sales objectives.

 

Online Value Proposition FAQs

What is the basic online value proposition?

It is a basic explanation of what a company does and how it differentiates from the competition. It may be a very minor difference (even a one-day less in delivery or 1% extra at promo sales), but it should be evident to anyone entering a particular website.

What is the best online value proposition?

Ultimately, the best online value proposition is the one that resonates with the target audience and effectively communicates the unique value that the business offers, underlying the benefits that a company can provide, and how it solves clients’ problems or fulfills their needs better than its competitors.

Why an eCommerce business needs an online value proposition?

Your prospect enters an eCommerce website. What do they get about why is it beneficial for them to buy? If you cannot formulate it in one sentence, be sure, your target audience also can’t and just leaves. To sell more and to develop more predictably, create an OVP.

How to create value proposition?

First, you should have a real value, not just take it out of a thin air. Second, don’t hope to find a one-fits-all formula that suits any eCommerce business. Check on the OVP focus types above, decide which one is most relevant to your company, and write a few options you can test.

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