Do you know the difference between a "positioning statement" and a "value proposition"? They're often used interchangeably, but they mean very different things.
A value proposition describes the overarching promise of your product or service to the marketplace by answering the following questions:
• What need do you fill in the marketplace?
• What’s the advantage over similar products/offerings in the marketplace?
A value proposition reflects your brand promise and clearly articulates the reason and benefits "prospects" should engage with your business.
A position statement is simply a subset of this (value proposition). Unlike the value proposition, a position statement is targeted to a highly specific segment or persona (target audience).
In other words, it is tailored to the unique needs of a single persona, while demonstrating empathy and understanding of the individual.
Furthermore, your position statement helps your target audience understand why your products are best suited for their needs over other options.
The value proposition and positioning statement are both key elements in a business' marketing strategy, but keep in mind that they're distinct differences between the two.
As always, if you need help determining either, contact us today, our team is here for you!