How to Write a Value Proposition: Answer to Dollar Shave Club Practice Problem

Posted by  Business For Beginners   in       2 years ago     16390 Views     1 Comment  

In my post about how to write a value proposition statement, you were asked to look at the Dollar Shave Club website, answer the four important questions and try to write a value proposition statement. I’ve highlighted the answers to the four questions in different colours on the image below.

  1. Product or service? Answer: both. They deliver (service *green*) razor blades (product *blue*).
  2. Problem solved? Answer: In the video he answers this question perfectly. “Stop paying for shave tech you don’t need and stop forgetting to buy your blades every month”. Also, the tagline (*pink*),  “Shave time. Shave money” helps to communicate this.
  3. Who is the product and/or service for? Answer: Men who shave (*purple*).
  4. What is the value or benefit being promised to customers? Answer: They are promising their customersA Great Shave For a Few Bucks a Month” (*yellow*)

dollar_shave_club_markupNext, we can use the answers to the above questions and the template sentence options to write the value proposition statement for the Dollar Shave Club.

Template Sentence – Option #1:

Company name is a product and/or service for this group of people that provides this benefit (or solves this problem).

Dollar Shave Club Value Proposition Statement – Option #1:

Dollar Shave Club (company name) is a razor blade (product) delivery service (service) for men (group of people) so they don’t pay for shave tech they don’t need (benefit #1) or have to remember to buy razor blades (benefit #2).

If it sounds better, you can rearrange the components of template sentence option #1 to get template sentence option #2, or create your own.

Template Sentence – Option #2:

Company name helps this group of people provides this benefit (or solves this problem) with this product and/or service.

Dollar Shave Club Value Proposition Statement – Option #2:

Dollar Shave Club (company name) helps men (group of people) stop paying for shave tech they don’t need (benefit #1) or have to remember to buy razor blades (benefit #2) with a razor blade (product) delivery service (service).

FINAL THOUGHTS:

Dollar Shave Club does a great job of communicating the information from the four questions, ensuring everyone is clear on the value the company is offering and the promise it is making to customers.

Still not sure how this all works? Contact us!

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As a business and marketing coach, I help entrepreneurs gain clarity on their situation, create a plan to move forward, find new customers, and create solid marketing, social media, and content management strategies. I like to write about business and marketing basics that will help people turn their business idea into actual business.