CVP or Customer Value Proposition describes why a customer would buy from you rather than buy from your competition. It goes hand in hand with a USP and you need both before commencing any sales or marketing campaigns.
A CVP talks about your strengths but from your customers’ perspective. How your customer views you can be different to how you view yourself. It talks about the value you create for your customer and how this value can be measured.
An excellent way to support your CVP is to use customer results, particularly result-related stats. This further helps explain your benefits. For example one of Big Red Cloud’s CVPs is related to how their accounts package is so easy to use it saves business owners time and money. One of its customers, Belles & Blazers, says:
“The system helped me gain better control of my accounts – cash flow and financial reporting. Overall it has saved me time and money in this area of my business.”
A Customer Value Proposition is often different for each sector, product or target market. So it is likely you will have more than one. It should enable you to find true alignment between your prospects’ needs and your core competencies.
Two of my CVPs are my 25+ years of technology marketing experience and the range of countries that I have lived and worked in. This means that I have experience in lots of different software products and georgraphical markets. Marc O’Dwyer from Big Red Cloud said:
“I chose Aisling as our Enterprise Ireland Strategy Marketing Review consultant because of her extensive tech marketing experience and also because she lived and worked in both the UK and Ireland – our two key target markets. From the first workshop she was familiar with our product. She was a pleasure to work with and provided guidance beyond the scope of the project.”
Once you have drafted your CVP you must validate it by asking your customers what they think. See if they agree. And be sure to listen to them. Remember the customer is never wrong! If you disagree with their input then perhaps you aren’t explaining yourself and your CVP properly.