So far, we’ve covered ‘What is a Value Proposition?’ and ‘What should be included in a Value Proposition?’. Next is the different types of value proposition (VP) and the types of scenarios you would use them in; this could be anything from bid writing through to job adverts.
Customer Value Propositions
Usually, bids will only require your company VP, which can also be known as a Customer VP. This statement, as we’ve mentioned previously, is to explain to a client/customer why they should be choosing your company to work with.
This should cover a pain point that is a common occurrence within your current customer base, followed up with how you can solve this issue for them. It should also cover what your company does, your company values, your mission, the benefits of using your service/product, and also the features of your service/product.
If you cover all of these, you will have a strong value proposition to add to your bid response!
Employee Value Propositions
This type of value proposition is a little bit different, you’re likely to see an employee value proposition within a job advert.
It should be a short statement, much like a customer value proposition, that outlines the benefits an employee will receive in return for their skills, capabilities, and experience they bring to your company. This could be in-house promotions, extra days off, Christmas bonuses, discounted gym memberships, etc…
You should also include things current employees enjoy about working for you, this could link in with the benefits, or it could be something completely different. For example, an employee may like how much support they’re given to improve their skillsets – this is highly attractive to job seekers as it shows them that the company is willing to put the effort in to train them in different aspects of the company or upskill them in their job role.
Employer Value Propositions
In today’s day and age, potential customers are caring more and more about how a company treats their employees and what they get in exchange for their skills. That’s where the employer value proposition comes in!
Much like the employee VP, this is an attractive statement to have as it showcases that you’re a company that cares about its reputation as an employer, and not just how successful the products/services are. It can be described as a promise between employee and employer.
Within this statement, you should include the types of things that make your company attractive to work for, this could be things like quarterly team-building experiences, bi-monthly team meals, in-house training to expand on skillsets. You should also include how working for you is different than one of your competitors
These 3 types of value propositions could come up within a social value aspect of a bid, asking you to explain how your business contributes to society, even if it’s just the area you operate within, and how you’re improving the lives of those who work for you/around you.
It’s time to add to your brainstorming sheet! Reopen that word document, dig out that bit of scrap paper, and start speaking to your employees. Find out what they like about working for you, what they don’t, and how they think these things can be improved. By doing this, you can show potential clients, and employees, that you care. If things are running smoothly with your team, everything else will run smoothly as well. And there’s nothing more rewarding than seeing your hard-working team be appreciated during the running of your service/product.
For further information, support writing your bid response, or to learn more about value propositions, follow us on social media or send us an email!