Your value proposition will define your success
A great value proposition can be the difference between you barely getting by or making a bank.
A couple of years ago, Profitwell did a study on how value propositions affect the willingness to pay.
Aka, whether people are willing to pay just $10 for your product. Or $100.
They tested the willingness to pay for a fake CRM product amongst different groups of sales leadership people with decision-making authority.
But when asking these same buyers about the same product but with different messaging, they saw varying willingness to pay.
👉To make sure you are not leaving any revenue on the table, you have to know what offer resonates with *your* icp.
They may not want to pay much for “accelerating growth”.
So don’t use that message.
But they might be willing to pay a lot for organizing the sales team chaos.
To figure this out, conduct research with your ICPs and find out what are their pain points, challenges, job to be done.
👉The same applies for B2C products.
Profitwell folks did a similar experiment with a fitness app.
And people were willing to pay much more for keeping their fitness consistent and achieving their goals than for losing weight and getting.
So, although the product remained the same, it was the messaging that had an effect on the perceived value and how much they could sell it for.