How to Create Value Propositions With ChatGPT for New Product Launches!

How to Create Value Propositions With ChatGPT for New Product Launches!

written by Houston Golden
Founder & CEO, BAMF Media
July 4th, 2024
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Ah, product launches—an absolutely hectic time for any company.

There’s the risk of people not liking or seeing the value of your product.

Or the possibility that you’d be the talk of the town.

How do you change this?

By creating better value propositions.

Value propositions, as the name suggests, are basically statements to show the benefits and economic value of your product.

It may seem easy, but when it comes down to it, it’s difficult to fully determine the extent of the value of your product or service …especially from the inside looking in.

This is why we created a little tool that you can use to help you before launch.

Without further adieu, we bring you our guide on how to create value propositions with ChatGPT!

The Prompt

Now buckle up as this one is going to be a bit on the longer side.

Create a value proposition for my product/service, [Insert Product/Service Name], which is designed for [Insert Occupation] in the [Insert Industry] industry. The main objective is to [Insert Main Objective], while avoiding [Insert What You Are Trying to Avoid]. Highlight how it [Insert Key Benefits/Features].

Additionally, outline the following:

Marketing Strategies:

How to effectively market this product/service to [Insert Target Audience].
Key channels to use (e.g., social media, email marketing, content marketing).
Messaging and positioning that resonate with the target audience.

Sales Analysis Insights:

Key performance indicators (KPIs) to measure the success of the product/service.
Sales trends and patterns to watch for in the [Insert Industry] industry.
Competitive analysis and how this product/service stands out in the market.


Client Pitch Points:

Key selling points to emphasize during client pitches.
How this product/service addresses the specific needs and pain points of [Insert Occupation].
Testimonials, case studies, or success stories to support the value proposition.

Our favorite part about this prompt is the fact that even if it’s a little lengthy, it’s extremely comprehensive.

You just need to fill in a few key details to make sure that ChatGPT gives you excellent results that you can make use of.

Below, you can see exactly how this prompt works.

Read more: How to Get LinkedIn Top Voice: The Science Behind the Community

The Output

This prompt is fun to use because it shows how awesome your product is (sometimes, in ways you don’t even realize)!

Create a value proposition for my product/service, WorkSmart, which is designed for Project Managers in the Information Technology (IT) industry. The main objective is to streamline project management processes and enhance team collaboration, while avoiding miscommunication and project delays. Highlight how it:

Centralizes project tracking and management
Offers real-time collaboration tools
Automates task assignments and reminders

Additionally, outline the following:

Marketing Strategies:

How to effectively market this product/service to Project Managers, IT Directors, and team leads.
Key channels to use (e.g., social media, email marketing, content marketing).
Messaging and positioning that resonate with the target audience.

Sales Analysis Insights:

Key performance indicators (KPIs) to measure the success of the product/service.
Sales trends and patterns to watch for in the IT industry.
Competitive analysis and how this product/service stands out in the market.


Client Pitch Points:

Key selling points to emphasize during client pitches.
How this product/service addresses the specific needs and pain points of Project Managers.
Testimonials, case studies, or success stories to support the value proposition.

When we filled up this prompt, we made sure to be a bit more detailed about what the product actually does.

This area is the backbone of the prompt because you need to be able to include the main key features of your product and the output will be centered on it.Create Value Propositions With ChatGPT, How to Create Value Propositions With ChatGPT for New Product Launches!

Here you can see that ChatGPT expands the features of your product, based on how you filled up the prompt.

It further explores what these benefits could mean for the target market.

Notice as well how simple ChatGPT made its language to make sure that it’s easy to understand.

Create Value Propositions With ChatGPT, How to Create Value Propositions With ChatGPT for New Product Launches!

In addition to the value propositions, our prompt is also built to include a simple marketing strategy.

We include the key channels you can use, as well as the messaging and positioning.

This gives an idea of how you can possibly market your product even more.

Additionally, the prompt assists you further with the inclusion of the KPIs for your product.

Create Value Propositions With ChatGPT, How to Create Value Propositions With ChatGPT for New Product Launches!

Adding the KPIs assists with keeping track of how your product is performing, and helps you with your analyses further down the road.

The prompt takes it even further with sales trends and patterns, and competitive analysis, which might be a little premature but can serve as a guide.

These parts are not necessarily standard in a value proposition, but they’re a great bonus to know that could assist with your product launching.

And it doesn’t end there.

The prompt even includes client pitch points to help you with how to further sell your product and its features to your market.

Create Value Propositions With ChatGPT, How to Create Value Propositions With ChatGPT for New Product Launches!

By also including how pain points are being addressed with this product, you get further material for product pitching.

Lastly, the prompt closes off with testimonials and even a case study idea to further back your product and its value up.

As you can see, this prompt isn’t just merely the value proposition of your product. The prompt expands further by offering additional marketing strategies and ideas for your product.

Tips for Using This Prompt

Of course, while the prompt is straightforward, you need to fully utilize it to get the best outcome. Here are some tips on doing so:

Be Detailed

This tip is especially important especially when describing your new service or product offering. By being detailed and listing down all the features, you allow the prompt to come up with an even more detailed output that expands on all these features, emphasizing the benefits to your market.

This allows you to strategize well and prep your teams.

Customization

While our prompts are pretty much ready to use, they aren’t necessarily fixed. In fact, we encourage customization here!

If you feel like the prompt isn’t what you fully need, you can customize it to your heart’s (and businesses’) desire! You can cut out the section that gives marketing strategies or you can even request for even more items such as asking for a specific tone in the branding and whatnot.

Takeaways

So there you go, you can now create value propositions for your product in just a few minutes.

With this, you can emphasize the uses of your product and show your market how they can benefit from it.

…you can even use it to test a couple of product thought experiments you already have.

With this prompt, product launches are made easier!

Read more: Here’s How You Can Create a Case Study with AI

About the Author

The name's Houston Golden. I'm the Founder & CEO of BAMF — a company I've grown from $0 (yes, really) to well over $5M+ in revenue over a span of 5 years.

How did I do it? Well, it's quite simple, really. I've helped hundreds of business owners and executives get major traction (because when they win, we win), I tell all on this blog.

Growth hacking is a state of mind. Follow along as I explore and expose the unknown growth strategies and tactics that will change the way you think about marketing.
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1 comment

  • Avatar for Houston

    This is a fantastic guide for leveraging ChatGPT in crafting compelling value propositions for new product launches! 🚀✨ Understanding how to effectively use AI to highlight what makes your product unique can make all the difference in a successful launch. Looking forward to seeing how these insights can help shape standout strategies and drive engagement! 💡📈

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