What is a Value Statement?
A value statement, also referred to as a value proposition, outlines exactly what a company stands for and why a customer should choose them. It should state, explicitly, what a company works towards and what their customers can expect from them and their products.
It should be understood both internally and externally (by staff and customers alike), reflect positively on the work of a company, and be unique; a value statement is also used to keep a competitive edge.
Mission vs. Vision vs. Value Statements
Every company has a mission, vision, and value statement, and all three of them should be treated as different entities. They’re often confused, or used interchangeably, but should always be unique and stand alone.
A value statement, as explained above, states exactly what a company offers their customers.
A mission statement is more reflective of the company as a whole, and states what their overall objective is.
And a vision statement takes a company’s mission one step further and refers specifically to future goals a company is working towards.
How to Write a Value Statement
A value statement isn’t something you can write on the fly. To have an effective, meaningful value statement you need to understand how exactly your product provides value to your customers.
Research is incredibly important. Lean on customer profiles and needs assessments to determine what exactly your customers need, and what their pain points are. Then, determine exactly how your product will help alleviate their issues. This should be worked into your value statement so it’s obvious for sales prospects to recognize precisely how and why utilizing your product will elevate their work.
If a sales prospect doesn’t see value in your product, they’re unlikely to purchase it. Find the connection between what you offer and what they need and splash it across your company’s website and marketing materials.
When writing a value statement, make sure the language used is straight and to the point, and avoid using buzzwords whenever possible. You don’t want sales prospects doing mental gymnastics to figure out why your product is the right choice for them. Value statements must be accessible to wide audiences.
Stand Out from the Crowd
Value statements should always be unique and refer specifically to your company and its products. The purpose is to stand out from your competition, and the way you present your value statement will come into play as well.
Many companies choose to simply write their value statement out on their website. Of course, everyone should do this, but you can present your value statement through different mediums as well to help reach more prospects and stand out from other companies.
Using video is a great way to showcase your value statement. You can easily embed a video into your website and post it on social media channels. There are lots of ways to use video to help boost sales, so why not use it to deliver important information to your audiences as well?