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Creating a financial forecast is vital for any business aiming to plan for the future. It involves analyzing historical financial data to identify trends and projecting future revenues and expenses based on that analysis. Comprehending the purpose of your forecast and selecting the right time frame are critical steps in this process. As you work through these stages, you’ll discover how to adjust your forecasts effectively, ensuring they remain relevant and useful in a changing market. Key Takeaways Gather historical financial data and core documents, including income statements, balance sheets, and cash flow statements, for the past 2-3 years. Define the purpose of the forecast to guide the analysis and align stakeholders on objectives. Choose an appropriate time frame for your forecast, considering both short-term and long-term business goals. Utilize financial tools and software to analyze data, model revenue and expenses, and create pro forma statements. Regularly monitor, adjust forecasts based on actual performance, and implement risk management strategies to ensure accuracy and relevance. Understanding Financial Forecasting Grasping financial forecasting is essential for any business aiming to navigate the intricacies of future financial performance. Comprehending financial projection meaning helps you estimate future results based on historical data and market conditions. To create a financial forecast, start by gathering relevant data, including past financial statements and market trends. You’ll then analyze this information using both quantitative methods, like statistical analysis, and qualitative methods, such as expert judgment. It’s important to recognize that different types of forecasts—like sales, cash flow, and budget—serve distinct purposes. Regularly monitoring and updating your forecasts will keep them aligned with your business objectives and market changes. This proactive approach reduces financial risks by anticipating revenue shifts and expense trends. Importance of Financial Forecasting Grasping the significance of financial forecasting is essential for your business’s success. It prepares you for uncertainties, allowing you to make informed decisions and set strategic goals that align with your financial health. Preparedness for Uncertainty When businesses engage in financial forecasting, they position themselves to navigate the uncertainties of the economic environment more effectively. Here are some key benefits of financial forecasting: Anticipation of Changes: You can foresee potential changes in revenue and expenses, allowing for proactive decision-making. Agility in Strategy: Regularly updating forecasts keeps your business agile, enabling adjustments to strategies in response to market trends. Risk Reduction: Accurate forecasting reduces financial risk, informing budget decisions and resource allocation. Contingency Planning: Identifying problem areas helps you develop contingency plans to mitigate impacts during downturns. Ultimately, consistent forecasting supports your annual budget planning, ensuring you set realistic financial goals as you stay prepared for unforeseen circumstances. Informed Decision-Making Effective financial forecasting is essential for making informed decisions that drive business success. By analyzing historical data and market trends, you can predict future performance, reducing uncertainty in your operations. Regular forecasting helps identify ongoing and potential issues, allowing you to proactively address them before they escalate into significant problems. In addition, accurate forecasts enable you to set realistic business goals, aligning resources and strategies effectively to optimize performance. Financial forecasting also plays a critical role in annual budget planning, ensuring efficient fund allocation and minimizing financial risks. Moreover, a transparent forecasting process boosts stakeholder confidence by providing clear insights into your organization’s financial health and strategic direction, nurturing trust and support from investors and partners alike. Strategic Goal Setting How can financial forecasting transform your approach to strategic goal setting? By acting as a roadmap, it helps you establish realistic objectives based on predicted performance. Here’s how it improves your strategy: Identify Revenue Streams: Pinpoint potential income sources to align financial goals with operations. Allocate Resources: Guarantee effective distribution of resources based on accurate expense predictions. Mitigate Risks: Regularly spot ongoing and potential issues, allowing for proactive strategy adjustments. Measure Progress: Establish clear benchmarks to evaluate actual performance against goals, enabling informed adjustments. With these insights, you can make confident decisions, cultivating trust among stakeholders and guaranteeing agility in your strategic direction. Financial forecasting is critical for maneuvering the intricacies of goal setting effectively. Types of Financial Forecasts In terms of financial forecasting, comprehension of the different types can greatly influence your planning. You’ll find that sales forecasting helps predict future revenue, cash flow insights guarantee you manage liquidity, and knowing the difference between budgeting and forecasting allows for better resource allocation. Each type serves a unique purpose, so grasping these concepts is crucial for effective financial management. Sales Forecasting Techniques Sales forecasting techniques are vital tools for businesses looking to project future revenue accurately. You can employ various methods to improve your sales forecasts, including: Top-Down Methodology: This approach starts with the overall market size and narrows down to specific sales figures. Bottom-Up Methodology: Here, you begin with individual sales data and aggregate it to form total sales projections. Historical Data Analysis: Analyzing past sales trends and seasonality helps predict future performance effectively. Industry Benchmarks: Utilizing market research provides insights into competitive dynamics and consumer behavior. Regular updates to your forecasts are important for reflecting real-time market changes, ensuring accuracy, and supporting strategic decisions. Cash Flow Insights Understanding cash flow insights is essential for any business aiming to maintain financial stability and guarantee smooth operations. Cash flow forecasting helps you estimate the timing and amounts of cash inflows and outflows, ensuring you have sufficient liquidity for daily operations and can prepare for potential shortfalls. This forecasting aligns anticipated cash movements with your operational needs and financial obligations. Typically, cash flow projections cover operating, investing, and financing activities, giving you an extensive view of your financial health over a specified period. Focusing on short-term forecasts often yields more accuracy, reflecting real-time changes in income and expenses. Regularly updating these forecasts based on actual performance helps identify immediate funding needs and supports informed financial decision-making. Budgeting vs. Forecasting Understanding the differences between budgeting and forecasting is vital for effective financial management, as each serves distinct purposes in planning and decision-making. Budgeting is a static financial plan, outlining expected revenues and expenses for a specific period, typically one fiscal year. Forecasting provides dynamic estimations of future performance, updated regularly based on actual performance and market changes. Types of forecasts include sales forecasting, cash flow forecasting, budget forecasting, and income forecasting, each catering to different business needs. As budgets set financial expectations, forecasts help you anticipate future trends, enabling proactive adjustments to strategies and operations. Both budgeting and forecasting are fundamental for thorough financial management, ensuring effective planning and resource allocation. Key Components of Financial Forecasting When developing a financial forecast, it’s vital to comprehend the key components that drive its accuracy and effectiveness. The income statement outlines your revenue, expenses, gains, and losses, providing insights into profitability over a specific period. The balance sheet reports on your company’s assets, liabilities, and shareholder equity, offering a snapshot of financial health at a particular moment. Meanwhile, the cash flow statement documents cash inflows and outflows, detailing your ability to manage liquidity and funding for operations. Grasping these core documents is fundamental for evaluating future financial performance. Regularly analyzing and updating these components guarantees your forecasts remain relevant and accurate, allowing you to adapt to changing market conditions and operational needs effectively. Gather Historical Data Gathering historical data is a crucial step in creating a reliable financial forecast. To effectively gather this information, follow these steps: Collect past income statements, balance sheets, and cash flow statements for the last two to three years to identify trends. Analyze key performance indicators (KPIs) like revenue growth rates, profit margins, and expense ratios for insights into financial health. Look for seasonal trends and year-over-year growth rates to understand demand fluctuations and operational cycles. Review external market factors that may have influenced historical performance, such as economic conditions and industry developments. Ensure the data you collect is accurate and consistent, as poor quality can lead to unreliable forecasts and misguided business decisions. Define the Purpose of Your Forecast Having collected historical data, the next step is to define the purpose of your financial forecast. This clarity will help you identify the specific insights you want, whether it’s comprehension of cash flow needs, projecting sales, or planning budgets. Establishing clear objectives allows you to tailor your forecasting methods and data collection efforts to your business’s unique requirements. It likewise aligns stakeholders around common goals, ensuring everyone grasps the forecast’s role in strategic decision-making. Identifying the forecast’s purpose guides you in selecting appropriate forecasting types, such as sales forecasting for revenue projections or cash flow forecasting for liquidity management. Choose a Time Frame When you choose a time frame for your financial forecast, it’s essential to take into account both your business goals and market trends. Short-term forecasts can help you capture immediate changes, whereas long-term forecasts align with strategic objectives over several years. Determine Forecast Duration Selecting the right forecast duration is crucial for effective financial planning, as it directly influences your business’s ability to anticipate cash flow and operational needs. Here are a few options to evaluate: Short-term forecasts: Cover up to 12 months, offering insights into immediate cash flow and operational requirements. Typical duration: Often aligned with annual budgeting cycles, most businesses forecast for one fiscal year. Long-term forecasts: Span three to five years, aiding in thorough strategic planning and investment decisions. Rolling forecasts: Continuously updated, these provide a live financial plan that adapts to real-time conditions, extending several months into the future. Choose the duration that best fits your specific needs and industry trends for ideal effectiveness. Align With Business Goals Aligning your financial forecasts with your business goals is essential for guaranteeing that your projections remain relevant and contribute effectively to your strategic objectives. Start by selecting a time frame for your forecast, typically spanning one to three years. This helps you set realistic targets and adjust as market conditions evolve. A well-defined time frame allows you to measure progress against your goals, making it easier to modify strategies and allocate resources as needed. Regularly reviewing and updating your forecasts within this period guarantees they stay aligned with changing business objectives. Furthermore, consider incorporating various forecasting scenarios—best, worst, and base cases—to prepare for potential challenges and opportunities, enhancing your overall financial strategy. Consider Market Trends Comprehending market trends is a crucial step in developing an effective financial forecast. To accurately choose a time frame, consider the following: Analyze historical sales data to spot seasonal patterns and growth rates that may affect future performance. Assess external factors like economic indicators, shifts in consumer behavior, and industry developments to understand their potential impact. Review market forecasts from reliable sources periodically, keeping you informed about changes in demand and the competitive environment. Align your time frame with the business cycle, typically ranging from one fiscal year for annual forecasts to shorter periods for more dynamic, rolling forecasts. Select a Forecasting Method In the domain of selecting a forecasting method, you’ll encounter two primary approaches: quantitative and qualitative. Quantitative methods, like the Percent of Sales and Multiple Linear Regression, rely on historical data and statistical analysis to project future performance. These methods are especially effective for analyzing sales trends. Conversely, qualitative methods, such as the Delphi Method and Focus Groups, depend on expert opinions and market research, making them useful in industries with limited historical data. To choose the right method, consider your business’s specific needs and available data. Combining both approaches can improve forecasting accuracy, providing a well-rounded view of potential outcomes and supporting better decision-making for your financial forecast. Create a Cash Flow Projection Creating a cash flow projection is crucial for your business’s financial health, as it helps you anticipate the timing and amount of cash inflows and outflows over a specific period. To build an effective projection, follow these steps: Gather Data: Use sales forecasts, historical cash flows, and anticipated expenditures. Identify Cash Flows: Break down cash flows into three main activities: operating, investing, and financing. Forecast Period: Typically project cash flows monthly, especially for new businesses. Monitor and Update: Regularly revise your projections based on real-time data and actual performance. Document and Monitor Results Documenting and monitoring results is vital for evaluating the effectiveness of your financial forecasts. You should compare the outcomes of your forecasts against actual performance to assess accuracy. Regularly tracking these results, ideally on a quarterly or monthly basis, helps you identify variances and trends that may require adjustments. Utilizing software tools that integrate with your existing financial systems can automate data collection, ensuring more accurate results. Establish a review schedule to keep your projections aligned with real-time data. Here’s a simple table to help you track your results: Forecast Period Forecasted Amount Actual Amount Variance Q1 $10,000 $9,500 -$500 Q2 $12,000 $13,200 +$1,200 Q3 $15,000 $14,750 -$250 Q4 $18,000 $18,500 +$500 Analyze Financial Data Analyzing financial data is essential for making informed decisions about your business’s future. Start by gathering historical financial statements, such as income statements, balance sheets, and cash flow statements, from the past two to three years. This helps identify trends and patterns. Focus on these key areas: Evaluate key performance indicators (KPIs) to assess profitability and liquidity. Assess seasonal trends and year-over-year growth rates for accurate revenue estimates. Research external market factors, like economic conditions and industry trends, to align projections with market dynamics. Use historical performance data as a baseline for modeling future revenues and expenses. Adjust Forecasts as Necessary To guarantee your financial forecasts remain accurate and effective, it’s crucial to adjust them as necessary. Regularly review your forecasts at least quarterly to confirm they align with actual performance and changing market conditions. Implement “what-if” scenarios to anticipate potential shifts in your business environment, allowing you to make proactive adjustments. Closely monitor key performance indicators (KPIs), as changes in these metrics may indicate that updates to your projections are needed. Be prepared to adjust forecasts in response to significant events, such as shifts in consumer behavior or unexpected competition. Utilize historical performance data alongside real-time insights to inform your decisions about necessary modifications, confirming your forecasts stay relevant and actionable in a dynamic environment. Tools and Resources for Financial Forecasting Effective financial forecasting relies heavily on the right tools and resources, which can greatly improve your accuracy and insight. Here are some crucial tools and resources to evaluate: ProfitWell Metrics – This subscription analytics software centralizes key metrics like monthly recurring revenues and churn rates. Financial Forecasting Software – Automates error-prone tasks and integrates data from multiple sources, enhancing data accuracy. Pro Forma Statements – Income, cash flow, and balance sheets provide insights into potential future scenarios based on projected financial performance. Industry Newsletters – Staying updated with trends informs you of external factors that may impact your financial projections. Utilizing these tools will help you create well-informed financial forecasts, reducing risks and improving overall decision-making. Frequently Asked Questions How Do You Create a Financial Forecast? To create a financial forecast, start by collecting historical financial data, such as income statements and cash flow records. Analyze trends and seasonal patterns from the past two to three years. Next, project future revenues by estimating income streams and considering market dynamics. Don’t forget to categorize your expected expenses, both fixed and variable. Finally, develop a cash flow forecast, ensuring you account for inflows and outflows to maintain necessary liquidity. What Are the 7 Steps in a Forecasting System? In a forecasting system, you typically follow seven key steps. First, gather historical data to identify trends. Next, research market conditions affecting your industry. Then, project your revenue based on past performance and market insights. After that, calculate your business expenses, categorizing them as fixed or variable. Following this, create a cash flow forecast to manage inflows and outflows. Finally, review and adjust your forecasts regularly to guarantee accuracy and relevance. What Are the 4 Types of Financial Forecasting? You should be aware of four primary types of financial forecasting. Sales forecasting predicts future revenue using historical data and market trends. Cash flow forecasting estimates your cash inflows and outflows, helping you maintain liquidity. Budget forecasting aligns projected revenues with anticipated expenses, enabling effective resource allocation. Finally, income forecasting analyzes past revenue trends to estimate future income, aiding in evaluating your financial health and investment potential. Comprehending these types is essential for effective financial planning. How Do I Create a Financial Forecast in Excel? To create a financial forecast in Excel, start by gathering your historical financial data, like income statements and cash flow records. Use formulas such as SUM and AVERAGE to calculate projections based on past trends. Organize your data on separate worksheets for sales, cash flow, and budgets. Add charts for visual clarity. Finally, regularly update your forecast with actual performance to guarantee it reflects current market conditions and business operations accurately. Conclusion Creating a financial forecast is crucial for effective business planning and decision-making. By following the steps outlined, including gathering historical data, analyzing trends, and adjusting projections, you can develop a reliable forecast that reflects your organization’s goals. Regularly monitoring and revising your forecasts guarantees they remain accurate and relevant in a changing market. With the right tools and resources, you’ll be well-equipped to navigate financial uncertainties and improve your strategic planning efforts. Image Via Envato This article, "How to Create a Financial Forecast – A Step-by-Step Guide" was first published on Small Business Trends View the full article

I recently spoke to a donor who reviewed a batch of proposals from different groups—different names, different logos, but nearly the same projects. Teams had reinvented the same wheel in parallel. Individually, some of those projects might get funded. Collectively, the sector missed the chance to pool efforts and solve a larger piece of the problem. That felt wrong, not because anyone was bad, but because our systems make it easier to duplicate than to unite. Here’s what should terrify donors: Even as funding tightens, duplicated projects still get financed while collaborative funds report backing organizations that figured out how to work together, with $2–3 billion in annual support. WHY WE BUILD IN SILOS First, complexity encourages focus. It’s human to take the problem you can manage and try to perfect it. Building a consortium feels messy and risky. Second, funding mechanics favor tidy, single-org proposals—grant windows, scoring rubrics, and reporting templates push teams into solo asks. Third, survival instincts kick in: Leaders protect jobs and short-term stability. Fourth, donors often prefer neat comparables; it’s easier to evaluate and communicate about a single-organization proposal than to underwrite a messy, multipartner bet. Those incentives produce dozens of similar pilots, fragmented data, duplicated engineering, and wasted momentum. The cost isn’t just administrative friction; it’s slower adoption of useful tools and weaker influence at policy tables where a unified voice would matter. EVIDENCE: JOINT BETS WIN There were dozens of AI-for-good panels and side sessions at the United Nations General Assembly this year, but no single calendar. Everyone scrambled, duplicating efforts, and wasting hours trying to track what was happening where. We published an open list of events—a basic piece of shared infrastructure—and the relief was immediate. If we can’t coordinate a calendar, how will we synchronize shared models, data standards, or joint deployments across countries? This isn’t abstract. Two other practical cases show what coordinated work unlocks. The Systems Transformation Hub saw several climate organizations realize they were spending most of their time fundraising rather than changing policy. They pooled efforts, cocreated a shared roadmap, and unlocked far more capital and traction than any member could have achieved alone. That shift, from isolated asks to a joint strategy, created real forward movement. Google’s Flood Hub teaches a related lesson on adoption: Building a model is not the same as embedding it into systems. Even with brand and engineering muscle, tech needs coordinated deployment. Governments, local NGOs, and scientists formed a collaborative around the tool so it could be used operationally—not just demoed. That adoption work turned capability into impact. WHAT REAL COLLABORATIVES MUST DO Collaboration is not logos on a slide. It is actual working alliances built on practical choices: Shared infrastructure, not replicated widgets. Build once, deploy many times—common models, APIs, and clear data contracts so local teams adapt rather than rebuild. Coordinated fundraising, not competing pitches. One unified ask with transparent allocation reduces transaction costs and unlocks deeper capital. Backbone governance. Someone must hold procurement, compliance, and ops—the boring glue that keeps partners moving. Shared measurement and safe data practices. Established metrics and data agreements let partners iterate and credibly report joint outcomes. Funders who reward collectives. Change scoring rubrics to favor system change, and long-term stewardship over tidy outputs. These are governance decisions. They’re not glamorous, but they determine whether pilots plateau or scale. WE’VE DONE THIS WRONG, TOO I’m not writing from a pedestal. At Tech To The Rescue, we have made the same mistakes, matchmaking that at times created more iterations than systems. We also see the alternative: projects that plug into shared services, adopt common standards, and scale faster. The tech side is also unlocking quickly. Many off-the-shelf tools now cover a large share of operational needs, but that potential only becomes impact if the sector coordinates adoption. That’s why we’re convening partners this season to test an AI-for-good ecosystem, a minimum viable product for shared infrastructure, pooled fundraising, and collective accountability. It’s operational testing, not optics. DONORS: CHANGE THE INCENTIVES Donors, this piece is for you. If you fund this space, please examine whether your forms, timelines, and scoring favor tidy, single-org asks or whether they actively reward collective proposals, backbone support, and multi-year, flexible capital. Consider creating grant lines specifically for collaboratives. Pool funds with other donors to underwrite backbone organizations; fund the integration work—procurement, ops, governance—that rarely looks glamorous but makes scale possible. Also consider directing funds toward policy, watchdogs, and capacity-building—the systems layer that keeps shared tech safe, accountable and effective. If your organization wants impact more than visibility, ask whether the next grant helps the sector or mainly your institution. If you build tech, ask whether your next sprint will be useful to 10 deployments, and if so, design it to be shared. We have the tools, talent, and urgency. The remaining barriers are cultural and structural: the humility to share credit, governance to coordinate, and funding models to pay for integration. Because the problems we care about won’t wait while each of us finishes our own version of the same thing. Jacek Siadkowski is cofounder and CEO of Tech To The Rescue. View the full article

Manually organizing large amounts of data, from multiple sources is a frustrating and time-consuming task. Fortunately, the right tools can automate the process, letting you skip the tedious parts and get right into the analysis that matters. Coefficient is one of the most popular tools on the market for moving data through spreadsheets, and with good reason. It’s easy to set up, easy to learn, and for many teams it’s more than worth the price tag. But what if it isn’t right for you? Coefficient.io alternatives: Summary table Coefficient.io alternativeStarting priceIntegration typeNumber of connectorsBest forUnito$49/monthTwo-way, real-time60+Two-way sync and workflow managementSupermetrics$99/monthOne-way150+Marketing intelligenceCoupler.io$29/monthOne-way60+Custom dashboardsLiveflowCustomOne-way4Turning spreadsheets into finance reports and dashboardsEquals$29/user/monthOne-way20Technical teams and SQL query capabilitiesTableau$70/user/monthDatabase-focusedHundredsEnterprise analyticsGrowCustomVaries100+Business intelligenceFivetranFreeOne-way700+Data warehousingFunnel.ioFreeOne-way600+Advertising and marketing analyticsRivery$0.90/creditNonlinear200+Custom data workflows What is Coefficient.io? Coefficient.io connects business systems like HubSpot, Salesforce, GA4, and Facebook Ads to Excel or Google Sheets, syncing data with regular updates. Coefficient’s two-way sync also allows you to update data in those systems right from your spreadsheet. It also allows you to filter data, push notifications to Slack, and more. Coefficient’s free plan allows a single user to sync data from three data sources, which is robust enough for small teams, but paid plans support more users and data sources. This platform has some powerful benefits for anyone who needs to centralize data in spreadsheets. But limitations like plan-gated connectors, a focus on spreadsheets, and limited transformation capabilities mean Coefficient isn’t always the best option. Here are some of your alternatives. The 10 best Coefficient.io alternatives Unito Unito is the best Coefficient.io alternative for users who need full data integration that goes beyond spreadsheet automation and reporting. Unito integrations keep your data up to date from either end of its numerous integrations in real-time, empowering even the most advanced workflows. Say, for instance, that you need to integrate a spreadsheet tool like Google Sheets with a platform like Salesforce for better reporting on your sales process. But you also need data from Salesforce tickets to sync with Jira issues, so software developers can work with full context when address prospect or customer needs. A tool like Coefficient.io can’t do that without using a spreadsheet as an intermediary or even as the main point of reference. With Unito, you can keep data flowing across all three tools so it’s always exactly where you need it. Here’s why Unito is one of the best Coefficient.io alternatives on the market: Real-time two-way sync: While both Coefficient.io and Unito offer two-way integrations, the former only updates your data on an hourly basis. Only Unito updates your data in real-time. More destinations for your data: With Coefficient.io, you need to use a spreadsheet as the destination for the data you sync. With Unito, that destination can be any integration. Data imports vs. synchronization: Coefficient.io essentially imports data into a spreadsheet, keeping it up-to-date from there. Unito builds true, two-way relationships between work items, which support deeper integrations. Strengths You can set up a Unito flow quickly, without any advanced technical knowledge, setting it apart from many Coefficient.io alternatives. Most Unito users set up their first flow in 12 minutes or less. Unito offers enterprise-grade integrations without the associated deployment times. This includes advanced security features that enterprise organizations need. Unito offers integrations for a wide variety of tools, including project management apps, spreadsheets, and software development tools. Want a deeper look at how Coefficient.io and Unito compare? Check out this full breakdown. Main limitation Unito has over 60 integrations, which isn’t as many as some other Coefficient.io alternatives. Customer rating G2: 4.5/5 Capterra: 4.5/5 Supermetrics: Best for marketing data integration Supermetrics is an integration platform best-suited for marketing teams that need comprehensive consolidation of advertising and marketing data. With over 150 connectors for popular marketing platforms, automated data enrichment, custom-field creation, and more than 60 reporting templates, it’s a strong option for marketers who need to upgrade the way they work. Strengths Deep marketing platform integrations Extensive visualization templates Main limitation Marketing focus makes Supermetrics more limited for other use cases Pricing Starts at $99 a month. Coupler.io: Best for custom dashboards Coupler provides more than just data updates between two systems, they also provide customizable Dashboards for out-of-the-box flexibility. With 60+ connectors and automation options, it’s an appealing option for many teams. The shortest refresh interval is 15 minutes, which might not be fast enough for some users. It also depends on your data destination for those dashboards instead of its own app, which might not be for everyone. Strengths 60+ supported data sources Customizable dashboard templates Automated data workflows No-code setup Main limitation 15-minute data refresh Pricing Free plan available, with paid plans starting at $29 a month. Liveflow: Best for finance dashboards Most of the software on this list is adaptable across numerous use cases, but Liveflow’s biggest strength is also its biggest drawback: a narrow scope. Liveflow is focused only on connecting QuickBooks to either Google Sheets or Excel in real-time. From there it streamlines reporting, consolidation, and budgeting. It also provides customizable templates and live dashboards that let you keep anyone who needs to know in the loop. This narrow focus means that Liveflow can dramatically expand your capabilities with QuickBooks without any extraneous features. It’s a lean design, and an excellent option if most of your work happens in QuickBooks. Unfortunately, it doesn’t offer much outside that niche. Strengths Real-time sync from QuickBooks and Xero to Google Sheets and Excel Financial reporting templates Budget consolidation tools Live dashboards for stakeholder updates Automated reconciliation Main limitation Narrow use case focus and limited integrations Pricing Custom pricing. Equals: Best for technical teams Equals has a deep feature set that works for technical and non-technical users alike. It lets users query with SQL or with a no-code query-builder. These queries can include more than one source. The sheet itself uses Excel-based formulas and shortcuts most users are already familiar with. Other than templates and dashboards Equals has integrated AI that creates automated summaries, explains formulas, helps with troubleshooting, and streamlines data visualizations and dashboards. Despite only offering 20 connectors, Equals offers an enviable feature set, provided your data sources are supported. Strengths SQL querying and no-code query builder Multi-source query support AI assistance Excel-based formulas and shortcuts 20 data source connectors Main limitation Smaller connector library compared to Coefficient’s. Pricing Free plan available, with paid plans starting at $29 per user per month. Tableau: Best for enterprise analytics Tableau is a comprehensive, end-to-end data platform from Salesforce, and as such includes all the templates, analysis, and dashboards you would expect. Two AI features make this Coefficient alternative stand out. First is “Einsten,” the AI copilot that streamlines productivity across all your reporting tasks. Second is Tableau Pulse, which automatically and contextually highlights key data, and proactively guides newer users. While having possibly the biggest and most powerful analytics suite on this list, Tableau’s pricing is surprisingly accessible. Its per-user pricing can be expensive for larger organizations, while its focus on database integrations could be a pro or a con, depending on your use case. Strengths Powerful analytics suite AI-driven insights Extensive database integration support Enterprise-grade data integration Main limitation Expensive for larger teams and complex to set up. Pricing Starts at $70 per user per month. Grow: Best for all-in-one business intelligence Grow is a business intelligence tool with an excellent selection of data sources. Grow skips the destination and operates as the data-analysis platform with dashboards and analytics built in, making this a very appealing one-stop software for all kinds of data tasks across multiple departments. A built-in sandbox allows users to build and test custom dashboards before deploying them. Sharing analysis and results is facilitated by conventional links, emails, slack, for-TV dashboards, and good old exports. If you’re already using software for dashboards and analytics, and only looking for integration or consolidation of your data sources, Grow isn’t the best bet for you. Strengths Eliminates the need for separate business intelligence tools Comprehensive analytics Large library of supported data sources Main limitation Overlaps with existing business intelligence tools, and can be excessive for pure data integration needs. Pricing Custom pricing. Fivetran: Best for data warehousing Fivetran is a data movement and transformation platform with a focus on security and versatility. With its 400+ supported data sources, there’s a good chance it will support your use case. Detailed security and governance are big selling points here, making this the best choice for sensitive data. Pricing is charged per gigabyte of data transferred, though you can use it for free for up to 500,000 monthly synced rows. Not having built-in analytics may be a downside, but for secure data transportation and preparation, Fivetran is a compelling tool. Strengths 400+ supported connectors Enterprise-grade security and governance Automated schema management Main limitation Too complex for simple use cases. Pricing Free for up to 500,000 synced rows per month. Paid plans based on data volume. Funnel.io: Best for advertising and marketing analytics Funnel plans scale from a free starter plan to a completely custom plan at the enterprise level. Integrations for 230+ marketing apps and up to 12 destinations mean there’s a good chance your tools are supported. Smart data processing means that limits and quotas are automatically optimized for your use case. Plans are measured with a “Flex Points” token system rather than by the volume of data or by the number of users. Though the tokens might seem confusing at first, they do ultimately lend some valuable agility to the plans. Strengths 230+ available integrations 12 data destination options Smart data processing and optimization Automated quota management Main limitation Limited to marketing use cases. Pricing Free starter plan, with paid plans based on per-credit pricing. Rivery: Best for custom data workflows Rivery offers a nonlinear approach to data. Though they only support one-way flows from your source to Rivery and then out to your analysis and business apps, the platform itself offers two-way connections to third-party tools and data warehouses. This flexibility lets Rivery support more unconventional use cases than other options on this list. Pre-made workflow templates called Starter Kits help users get started faster, a welcome feature for a platform with this much customizability. Pricing is usage-based, so sub-optimal usage might cost you. They do provide a pricing estimator to facilitate this. Despite this, Rivery delivers a uniquely flexible option for diverse workflows that is hard to beat. Strengths Non-linear data flow architecture Two-way syncing between data warehouses and third-party tools Premade workflow templates Exceptional flexibility and unconventional workflow support Main limitation Can be complex for less technical users. Pricing Credit-based pricing, starting at $0.90 per credit. Want to see how Unito stacks up? Meet with Unito product experts to see what it can do for your workflows. Talk with sales FAQ: Coefficient.io alternatives Why consider a Coefficient.io alternative? While Coefficient.io is a strong platform for syncing data from multiple systems to spreadsheets, you might need to consider an alternative in the following cases: You need data synced to tools other than spreadsheets. You need a real-time two-way sync. You need full data integration rather than data imports. Business intelligence or data warehousing fits your needs better than spreadsheet automation. What’s the best Coefficient.io alternative for less technical users? Unito is one of the best Coefficient.io alternatives for users that don’t have the technical knowledge or support to set up complicated automation platforms. Recent updates September 30th 2025: We added a summary table at the beginning of this article so you can get an immediate breakdown of the differences between Coefficient and its most popular alternatives. We also added an FAQ, bulked up some entries on this list, and added Supermetrics as an alternative. View the full article

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The inside take on the Labour Party Conference live from Liverpool View the full article

Household energy supplier makes disclosure after failing to meet industry regulator’s capital adequacy targetsView the full article

On the heels of Starbucks’ recent announcement it will be cutting 900 corporate roles and closing 1% of its Northern American stores by the end of 2025 (after accounting for both new openings and closures), Starbucks Workers United said Tuesday that 59 of those locations marked for closure are unionized locations. Starbucks Workers United, the worker-led effort to unionize Starbucks baristas, represents 12,000 baristas in 45 states and Washington D.C., across more than 650 cafes. The closures, announced last week by CEO Brian Niccol, are part of a massive $1 billion restructuring strategy dubbed “Back to Starbucks,” aimed at turning around declining sales and brand image damage. Representatives from Starbucks and Starbucks Workers United declined to share details about the fate of specific locations. “While we remain outraged at how callously Starbucks handled these closures, we are proud that we have forced the company to make this process fairer for impacted union baristas,” said Starbucks Workers United spokesperson Michelle Eisen. “These measures to support baristas show the power and strength of our union. We remain focused on organizing stores and demanding Starbucks settle a fair union contract that improves hours and staffing, increases take-home pay, and resolves unfair labor practices.” Reached for comment, a Starbucks spokesperson told Fast Company: “Given the industry-leading offer provided to all affected partners – including reassignment opportunities where possible as well as generous severance – we were able to quickly reach an agreement with Workers United to similarly help represented partners through this transition. This reflects our commitment to partner care.” A spokesperson for the company also told amNY that unionization “was not a factor” in the decision to close specific locations. Baristas from closing stores will either be offered severance packages or transferred to new locations, which has led uneasy employees to crowdsource their own list of shuttering locations as they wait for official word. The stakes remain high for Starbucks if it fails to settle a contract and workers go on strike ahead of the holiday season, which is the busiest and most profitable time of the year. View the full article

Google's John Mueller answers a question about expired domains and ranking issues. The post Google Explains Expired Domains And Ranking Issues appeared first on Search Engine Journal. View the full article

Sale of division would further oil and gas group’s efforts to reduce its $24bn debt pileView the full article

A breakeven business is one that earns enough revenue to cover all its costs, resulting in neither profit nor loss. Comprehending your breakeven point is crucial for evaluating your financial health and setting realistic sales targets. It can guide your decision-making and help you optimize your product offerings. Nevertheless, calculating your breakeven point isn’t always straightforward. There are likewise strategies to lower it, but they come with certain limitations. Key Takeaways A breakeven business is one that covers its total costs through sales, achieving zero profit or loss. The breakeven point (BEP) helps businesses determine the minimum sales volume required to avoid losses. Understanding BEP aids in setting realistic sales targets and visualizing paths to profitability. Regular breakeven analysis provides insights into financial health and helps identify trends over time. Strategies to lower the breakeven point include reducing costs and focusing on high-margin products. Understanding the Breakeven Point Grasping the breakeven point is crucial for any business owner aiming to maintain financial stability. The breakeven point (BEP) represents the sales volume where total revenue equals total costs, meaning you’re neither making a profit nor incurring a loss. To calculate the BEP, use the formula: BEP (in units) = Total Fixed Costs / (Selling Price per Unit – Variable Cost per Unit). Fixed costs, such as rent and salaries, remain constant regardless of production levels, whereas variable costs, like materials and direct labor, fluctuate with sales volume. By comprehending the breakeven point, you can determine the minimum sales needed to cover costs, guiding your pricing strategies and sales targets. In the end, ensuring your breakeven business is positioned to make profit sustainably. Importance of Breakeven Analysis for Business Owners Grasping the breakeven point lays the groundwork for appreciating the importance of breakeven analysis in business operations. This analysis is essential as it determines the minimum sales volume you need to cover both fixed and variable costs, ensuring sustainability. By comprehending your breakeven point, you can set realistic sales targets, visualize your path to profitability, and motivate your sales teams. Analyzing the contribution margin helps identify which products or services contribute most to your fixed costs, allowing for informed pricing decisions. Regularly conducting breakeven analysis enables you to monitor your financial health, quickly spotting trends like rising costs or declining sales. In the end, this process nurtures financial literacy, equipping you to make proactive adjustments to maintain and improve profitability. Calculating Your Breakeven Point Calculating your breakeven point is a crucial step in comprehending your business’s financial environment. You can determine how many units you need to sell to cover all expenses using the formula: Breakeven Point (Units) = Total Fixed Costs / (Sales Price per Unit – Variable Cost per Unit). For example, if your total fixed costs are $10,000, the sales price per unit is $50, and the variable cost per unit is $30, your contribution margin is $20. This leads to a breakeven point of 500 units, as shown below: Total Fixed Costs Sales Price per Unit Variable Cost per Unit $10,000 $50 $30 Breakeven Point 500 Units $10,000 Revenue Regularly reassess your breakeven point to adapt to changing costs and pricing. Strategies to Lower Your Breakeven Point To effectively lower your breakeven point, consider a multifaceted approach that addresses both fixed and variable costs. Start by reducing fixed costs; negotiating lower rent or subleasing can greatly decrease the revenue needed to break even. Next, focus on lowering variable costs through bulk purchasing or supplier negotiations, which can improve profit margins. Furthermore, exploring smaller storefronts or remote work options helps minimize overhead expenses, directly impacting your breakeven calculations. You might as well consider increasing your selling price, aligning it with customer expectations to lower the required sales volume. Finally, concentrate on high contribution margin products in your sales mix, optimizing overall profitability and allowing your business to achieve the breakeven point more efficiently. Limitations of Breakeven Analysis Whereas lowering your breakeven point is a valuable strategy for enhancing profitability, it’s essential to recognize that breakeven analysis has its limitations. This analysis doesn’t account for fluctuations in customer demand, which can lead to unsold inventory and additional costs. It assumes fixed and variable costs remain constant, but this isn’t always true as your business scales or faces market changes. For businesses with multiple products, accurately allocating costs can complicate the analysis. Furthermore, breakeven analysis only provides a snapshot of financial health at a specific moment, making it less effective for long-term planning. Significantly, it overlooks cash flow considerations, which are vital for evaluating your business’s overall financial viability and sustainability. Frequently Asked Questions Why Is Break-Even Important to a Business? Grasping the break-even point is essential for your business, as it defines the minimum sales needed to cover costs. This knowledge helps you set competitive pricing strategies, ensuring prices cover expenses as you attract customers. Analyzing break-even data allows you to evaluate new products or expansions, aiding in resource allocation decisions. Regularly monitoring this point can reveal trends in costs and revenues, empowering you to make informed adjustments and maintain financial health. What Is the Significance of a Company’s Break-Even Point? A company’s break-even point is significant as it indicates the sales volume required to cover all costs, both fixed and variable. Comprehending this point helps you set realistic sales targets and informs pricing strategies. By knowing your break-even, you can assess how changes in costs or sales prices affect profitability. Regularly monitoring this metric allows you to adapt to market shifts, ensuring your business remains financially stable and capable of achieving long-term success. Why Does Break-Even Point Matter? Comprehending the break-even point matters since it helps you determine the minimum sales volume required to cover your costs. By knowing this threshold, you can set effective pricing strategies and make informed financial decisions. Monitoring your break-even point enables you to assess your business’s financial health and efficiency, allowing for prompt adjustments when necessary. This knowledge likewise assists in budgeting and planning, ensuring you allocate resources wisely for future profitability. What Is One of the Benefits of a Company Being at Break-Even Point? One key benefit of reaching the break-even point is that it allows you to evaluate your pricing strategies and cost structures without the immediate threat of financial loss. This stability enables informed decision-making for growth, as you can assess how changes impact profitability. Furthermore, being at this point motivates your team to meet and exceed sales targets, which is vital for progressing to profitability and enhancing overall business performance. Conclusion In summary, comprehending your breakeven business is essential for sustainable operations. By calculating your breakeven point, you gain insights into necessary sales volumes and can make informed decisions regarding pricing and cost management. Implementing strategies to lower your breakeven point improves financial flexibility and overall health. As breakeven analysis has limitations, it remains a fundamental tool for effective business planning and performance evaluation, eventually guiding you toward more profitable outcomes. Image Via Envato This article, "What Is a Breakeven Business and Why Does It Matter?" was first published on Small Business Trends View the full article

A breakeven business is one that earns enough revenue to cover all its costs, resulting in neither profit nor loss. Comprehending your breakeven point is crucial for evaluating your financial health and setting realistic sales targets. It can guide your decision-making and help you optimize your product offerings. Nevertheless, calculating your breakeven point isn’t always straightforward. There are likewise strategies to lower it, but they come with certain limitations. Key Takeaways A breakeven business is one that covers its total costs through sales, achieving zero profit or loss. The breakeven point (BEP) helps businesses determine the minimum sales volume required to avoid losses. Understanding BEP aids in setting realistic sales targets and visualizing paths to profitability. Regular breakeven analysis provides insights into financial health and helps identify trends over time. Strategies to lower the breakeven point include reducing costs and focusing on high-margin products. Understanding the Breakeven Point Grasping the breakeven point is crucial for any business owner aiming to maintain financial stability. The breakeven point (BEP) represents the sales volume where total revenue equals total costs, meaning you’re neither making a profit nor incurring a loss. To calculate the BEP, use the formula: BEP (in units) = Total Fixed Costs / (Selling Price per Unit – Variable Cost per Unit). Fixed costs, such as rent and salaries, remain constant regardless of production levels, whereas variable costs, like materials and direct labor, fluctuate with sales volume. By comprehending the breakeven point, you can determine the minimum sales needed to cover costs, guiding your pricing strategies and sales targets. In the end, ensuring your breakeven business is positioned to make profit sustainably. Importance of Breakeven Analysis for Business Owners Grasping the breakeven point lays the groundwork for appreciating the importance of breakeven analysis in business operations. This analysis is essential as it determines the minimum sales volume you need to cover both fixed and variable costs, ensuring sustainability. By comprehending your breakeven point, you can set realistic sales targets, visualize your path to profitability, and motivate your sales teams. Analyzing the contribution margin helps identify which products or services contribute most to your fixed costs, allowing for informed pricing decisions. Regularly conducting breakeven analysis enables you to monitor your financial health, quickly spotting trends like rising costs or declining sales. In the end, this process nurtures financial literacy, equipping you to make proactive adjustments to maintain and improve profitability. Calculating Your Breakeven Point Calculating your breakeven point is a crucial step in comprehending your business’s financial environment. You can determine how many units you need to sell to cover all expenses using the formula: Breakeven Point (Units) = Total Fixed Costs / (Sales Price per Unit – Variable Cost per Unit). For example, if your total fixed costs are $10,000, the sales price per unit is $50, and the variable cost per unit is $30, your contribution margin is $20. This leads to a breakeven point of 500 units, as shown below: Total Fixed Costs Sales Price per Unit Variable Cost per Unit $10,000 $50 $30 Breakeven Point 500 Units $10,000 Revenue Regularly reassess your breakeven point to adapt to changing costs and pricing. Strategies to Lower Your Breakeven Point To effectively lower your breakeven point, consider a multifaceted approach that addresses both fixed and variable costs. Start by reducing fixed costs; negotiating lower rent or subleasing can greatly decrease the revenue needed to break even. Next, focus on lowering variable costs through bulk purchasing or supplier negotiations, which can improve profit margins. Furthermore, exploring smaller storefronts or remote work options helps minimize overhead expenses, directly impacting your breakeven calculations. You might as well consider increasing your selling price, aligning it with customer expectations to lower the required sales volume. Finally, concentrate on high contribution margin products in your sales mix, optimizing overall profitability and allowing your business to achieve the breakeven point more efficiently. Limitations of Breakeven Analysis Whereas lowering your breakeven point is a valuable strategy for enhancing profitability, it’s essential to recognize that breakeven analysis has its limitations. This analysis doesn’t account for fluctuations in customer demand, which can lead to unsold inventory and additional costs. It assumes fixed and variable costs remain constant, but this isn’t always true as your business scales or faces market changes. For businesses with multiple products, accurately allocating costs can complicate the analysis. Furthermore, breakeven analysis only provides a snapshot of financial health at a specific moment, making it less effective for long-term planning. Significantly, it overlooks cash flow considerations, which are vital for evaluating your business’s overall financial viability and sustainability. Frequently Asked Questions Why Is Break-Even Important to a Business? Grasping the break-even point is essential for your business, as it defines the minimum sales needed to cover costs. This knowledge helps you set competitive pricing strategies, ensuring prices cover expenses as you attract customers. Analyzing break-even data allows you to evaluate new products or expansions, aiding in resource allocation decisions. Regularly monitoring this point can reveal trends in costs and revenues, empowering you to make informed adjustments and maintain financial health. What Is the Significance of a Company’s Break-Even Point? A company’s break-even point is significant as it indicates the sales volume required to cover all costs, both fixed and variable. Comprehending this point helps you set realistic sales targets and informs pricing strategies. By knowing your break-even, you can assess how changes in costs or sales prices affect profitability. Regularly monitoring this metric allows you to adapt to market shifts, ensuring your business remains financially stable and capable of achieving long-term success. Why Does Break-Even Point Matter? Comprehending the break-even point matters since it helps you determine the minimum sales volume required to cover your costs. By knowing this threshold, you can set effective pricing strategies and make informed financial decisions. Monitoring your break-even point enables you to assess your business’s financial health and efficiency, allowing for prompt adjustments when necessary. This knowledge likewise assists in budgeting and planning, ensuring you allocate resources wisely for future profitability. What Is One of the Benefits of a Company Being at Break-Even Point? One key benefit of reaching the break-even point is that it allows you to evaluate your pricing strategies and cost structures without the immediate threat of financial loss. This stability enables informed decision-making for growth, as you can assess how changes impact profitability. Furthermore, being at this point motivates your team to meet and exceed sales targets, which is vital for progressing to profitability and enhancing overall business performance. Conclusion In summary, comprehending your breakeven business is essential for sustainable operations. By calculating your breakeven point, you gain insights into necessary sales volumes and can make informed decisions regarding pricing and cost management. Implementing strategies to lower your breakeven point improves financial flexibility and overall health. As breakeven analysis has limitations, it remains a fundamental tool for effective business planning and performance evaluation, eventually guiding you toward more profitable outcomes. Image Via Envato This article, "What Is a Breakeven Business and Why Does It Matter?" was first published on Small Business Trends View the full article

Did you know you can customize Google to filter out garbage? Take these steps for better search results, including adding my work at Lifehacker as a preferred source. On Monday, Meta announced six new features it rolled out to WhatsApp users. The thing is, these features might not be that new. The company somewhat confusingly says these features have been added to the app "over the past few months," despite some clearly rolling out only within the past few days. While it might be tough to say when each of these features officially dropped, the point is they're here now, and you can try them out today. Here are the six new features Meta highlighted, and what you can expect to see the next time you open the app: Support for Live Photos and Motion PhotosPerhaps the biggest news of the bunch is support for Live Photos (iOS) and Motion Photos (Android). Before this latest update, these moving photos would simply as static images, so you'd miss out on the extra few seconds of motion and audio. If you wanted to send the full Live Photo or Motion Photo, you needed to choose a different messaging app. No longer! It's the latest WhatsApp update to make it easer to freely share media. Over the years, the company has slowly updated its policies on sharing high quality photos and videos. It was only in 2024 that WhatsApp finally let you share these images in full resolution, so it's not that surprising to me that it took this long for Live Photo support. Document scanning on AndroidIf you frequently share documents on WhatsApp, this is great news: Android users now have access to the app's built-in document scanner. This feature was previously exclusive to iPhones, so it's good to see it arrive on the Android version as well. You'l find the "Document" option under the (+) button in any given chat. Meta AI chat themesMeta's custom, AI-generated chat themes are now available in WhatsApp. The feature is a bit buried in the "Chat theme" settings, but after tapping "Create with AI," you can ask the bot to generate any type of background you want. If you can't think of anything, Meta AI has a series of pre-generated backgrounds you can use. As you might expect, these backgrounds include all the hallmarks of AI-generated images: uncanny realisms, high contrast, and that "AI sheen." Still, if you feel like mixing up your chat background with something you can't find in the app's selections, you can give this image generator a try. I'd prefer to stick with the human-generated selections. That said, WhatsApp is far from the only app to offer AI-generated chat backgrounds. Even Apple's Messages app now does, at least with iOS 26. Video call backgroundsSimilarly, you can now use Meta AI to generate custom backgrounds for your video calls. This feature works when taking photos and videos directly in the chat, as well, just in case you ever want to quickly replace your background with something AI-generated. Outside of the sheer novelty though, I'm not sure when that would be all that practical. Better group searchYou can now search for specific contact names in the main Chats tab, and have WhatsApp return all of the groups you two are in together. I could see this being an easier way to find a group chat that's been buried in your threads: Instead of scrolling or searching for specific messages, just search for the name of someone you know is in the chat. Additional sticker packsWhatsApp is also introducing at least two new sticker packs: "Fearless Bird" and "Vacation." View the full article

AI is reshaping how billions of people find information, but it isn’t killing the blue link. That’s according to Liz Reid, Google’s head of Search, in a new The Economic Times podcast interview. Why we care. We’re in a massive transitional period. If you believe Google, AI isn’t shrinking the pie – it’s expanding opportunities for brands, businesses, and creators. Perhaps AI Overviews are killing shallow traffic, but the big question remains whether Google can find ways to reward rich, engaging content. The future of search. AI is a layer, not a replacement. Some quotes from Reid: “I think we’re still really at the beginning. I think there’s still [a] huge way to think about how we use AI to reinvent search.” “We don’t view AI as replacing search … We view it as augmenting, as enabling us to reinvent search.” “The goal [is] making it possible that you can ask truly anything on search and that you can do so effortlessly.” Dig deeper. Google’s Liz Reid: It isn’t AI or search; it’s AI in search Blue links + human voices. Google wants to give users AI answers, as well as direct access to creators, experts, and communities. “I do think the story of the blue link is far from over.” “Many many people want to hear from other people … people want to connect with humans and that human spirit.” “Web content, short-form video, user-created content will continue to flourish.” “We’re also experimenting with inline links within AI Overviews and AI Mode … linking directly to that creator so you can hear more.” SEO in an AI-first world. Thin content is dead. Quality, perspective, and depth win, according to Reid: “People should really produce content that users care about and not think about building content for search engines.” “If you produce content that’s very shallow … then your content really doesn’t have much more than like an AI Overview would give.” “What you do see is a lot of excitement on the deep clicks.” “Be optimizing for a great experience … people are going to want to go there not to just get that 5-second thing, but to actually go deeper.” Changing search behavior. AI lowers friction – people ask more via longer and more complex queries. Reid said: “They’re longer because people are giving more context … they’re putting multiple constraints.” “We see people just asking more questions, not just harder questions.” “If I can just ask a quick follow-up, then I’ll go ask it.” “So far with India and the U.S., we’re already seeing over 100 million active users per month.” The interview. Corner Office Conversation with Elizabeth Reid, Head of Search, Google View the full article

Did you know you can customize Google to filter out garbage? Take these steps for better search results, including adding Lifehacker as a preferred source for tech news. In a world that seems increasingly determined to keep us apart, we’re all bound together by at least one universal experience: the frustration of talking to a real person on the phone at a customer service call center. Whether we want to complain, resolve a problem, or simply get information, call center interactions can be a maddening experience. Companies are increasingly hiding their customer service representatives behind phone menus and AI-driven tools, and even if you make contact, the experience is often less than ideal. With October Prime Day around the corner, finding a solution to this problem can save you a lot of headaches. While different companies handle their call centers in different ways (and host them in different countries), there are some universal truths to keep in mind—and use to your advantage, if you know a few secret ways to navigate them. These tips won’t guarantee you success in your quest for a refund, a return, or simply an explanation as to why you were shipped you a BTS-branded body pillow instead of the winter coat you ordered. But they will increase your odds of emerging from the call with something to show for your efforts. A good general piece of advice: Keep calm, and always be polite. Call center employees are human beings doing a difficult job, so remind yourself that your beef isn’t with them, it’s with their corporate overlords. GetHumanYour chances of customer service success increase dramatically when you get a human being on the line. Hitting a rigid phone menu is pretty common these days, and it’s frustrating: The automated options often aren’t flexible enough to cover your specific need, and they seem to be designed to stop all but the hardiest souls from actually reaching a customer service rep (CSR). And that’s because they are. It costs money every time you connect with a CSR, so companies try to keep you away from them as much as possible. So, instead of tangling with their phone menu and hearing “I’m sorry, I didn’t understand that” fifteen times until you set your phone on fire in frustration, try a service like GetHuman. Type in the name of the company you’re trying to contact and see if there’s a direct phone number you can dial to get a person, or if they offer a set of easy instructions on how to break out of the phone menu. If you do get a human on the phone, ask for a direct number to call back if your problem needs to be addressed again. The supervisor trickIt’s an oldie but a goodie—and it does work. If your CSR isn’t helpful, or you’re not getting the result you want, ask to speak to a supervisor. A slightly more polite and less combative way to do this is to ask to speak to “someone who can solve my problem” or similar language. In almost all situations, your CSR is obligated to transfer you upon request, and supervisors are often empowered to do things the common CSR can’t. Hit zero—or say nothingIf you can’t get any information on how to connect to a human being, try pressing zero on your phone’s keypad. Many (though not all) call center phone menus will automatically dump you to a CSR if you press zero. If that doesn’t work, have a little patience and simply do nothing. Most phone menus will time out if you don’t respond in any way to their prompts—and dump you to a human being by default. This might take a minute or two, but it often works. Call during off hoursAs you might imagine, call centers experience busy times like any other business, and they tend to align with people’s waking hours. If the company you’re trying to reach offers 24-hour customer service, try calling very early in the morning or very late at night. Most sane, well-adjusted people will be asleep or enjoying their lives, so your chances of getting through quickly (and your chances the CSR will have extra time for you) will be better. Exhaust the scriptIt’s important to understand that every single CSR you speak to is working from a script. Companies develop complex algorithms for dealing with customer complaints. These scripts are designed to shorten call lengths—and to avoid outcomes the company finds undesirable (like refunding your money). But like all scripts, they’re limited. A few simple tricks can help you break free from the script—and that’s when you can really get something done. A few things to try: Repeat your demands. CSR scripts usually have a limit on how often the CSR can refuse you—but they won’t tell you that. Most commonly, if you trigger the same script loop three times, the CSR is obliged to transfer you—or empowered to reveal another option they’ve yet to share. So if the CSR tells you they can’t refund you, don’t just accept it—ask again. And then again. Stay on the line. CSRs are always on the clock. Every interaction costs the company money, and their job performance is often tied to how quickly they can resolve customer problems. The longer you refuse to end the interaction, the closer you get to being transferred to someone who can actually do what you want, or inspiring the CSR to use some of the power they do have just to get you off the line. Jump the script. When trying to cancel an account or get a refund, CSR scripts are larded with alternatives, up-sells, and misdirections. (Ever tried to cancel your cable TV and somehow wound up with three months of free HBO instead? That’s the power of the script.) One trick is to start off by pre-refusing everything—tell the CSR you don’t want freebies, discounts, new services, or anything else, you want one very specific thing. This can short-circuit the script and get you where you want to go much faster. Call back immediatelyIf your CSR refuses to see things your way, don’t get mad—change venues. Politely end the call, then call back immediately. You’ll almost certainly get a different CSR, and the experience can often be dizzyingly different. That’s because your call may be routed to an entirely different call center, or may be picked up by a CSR with more experience—and more authority. Show them the moneyIf you’re having trouble getting a human being on the line no matter what you try, there’s one last trick to play: Choose the menu option that involves spending money. Upgrade your account, make a purchase, take on the optional insurance—whatever option results in your bill going up will almost certainly get an eager human being on the phone. They may not be the right person to speak to, but now you’re inside the phone menu, and they can transfer you to a more appropriate department. Customer service often seems like a battle of wills. But it’s also a battle of wits, and these secrets will give you some extra ammo. Our Best Editor-Vetted Early Prime Day Deals Right Now Apple AirPods Pro 2 Noise Cancelling Wireless Earbuds — $199.00 (List Price $249.00) Samsung Galaxy Tab A9+ 10.9" 64GB Wi-Fi Tablet (Graphite) — $194.18 (List Price $219.99) Blink Mini 2 1080p Indoor Security Camera (2-Pack, White) — $34.99 (List Price $69.99) Blink Outdoor 4 XR + Mini 2 — Wireless and plug-in security cameras, motion detection, extended range. 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U.S. job openings were essentially unchanged million last month amid economic uncertainty arising from President Donald The President’s trade policies and an impending government shutdown. The Labor Department reported Tuesday that job openings blipped up to 7.23 million from 7.21 million in July. Economists had forecast a drop to 7.1 million. The Job Openings and Labor Turnover Survey (JOLTS) showed that layoffs fell month. But so did the number of people quitting their jobs — which is a sign of confidence in their prospects of finding a better job. The report’s measure of hiring last month was the weakest since June 2024. Job openings remain at healthy levels but have fallen steadily since peaking at a record 12.1 million in March 2022 as the U.S. economy roared back from COVID-19 lockdowns. The U.S. job market has lost momentum this year, partly because of the lingering effects of 11 interest rate hikes by the inflation fighters at the Federal Reserve in 2022 and 2023 and partly because The President’s trade wars have created uncertainty that is paralyzing managers trying to make hiring decisions. Altogether, Tuesday’s JOLTS numbers suggest that the job market remains in an awkward place: Americans who have jobs are mostly safe from layoffs. Unemployment remains low at 4.3%. But jobseekers are struggling to find work. “Companies are clearly hoarding workers with the economy still at full employment,” Carl Weinberg, chief economist at High Frequency Economics, wrote in a commentary. “It will take a bigger blow than what we have seen so far to convince companies that it is safe and prudent — and necessary — to lay off workers.” Labor Department revisions earlier this month showed that the economy created 911,000 fewer jobs than originally reported in the year that ended in March. That meant that employers added an average of fewer than 71,000 new jobs a month over that period, not the 147,000 first reported. Since March, job creation has slowed even more — to an average 53,000 a month. On Friday, the Labor Department is expected release numbers on September hiring and unemployment — though the report could be postponed if a budget impasse in Congress leads to a government shutdown Wednesday. If the report comes out, it is expected to show that employers added 50,000 jobs in September, unimpressive but up from a meager 22,000 in August, according to a survey of economists by the data firm FactSet. At their last meeting two weeks ago, Fed policymakers cut their benchmark interest rates for the first time this year to support the sputtering job market. They also signaled that expect two more rate cuts this year. —Paul Wiseman, AP economics writer View the full article

If it seems like it’s getting more expensive to replace a broken door, kitchen fixtures, or upgrade a major appliance, you’re not wrong. The cost of home repair and remodeling projects is up compared to a year ago and running ahead of inflation overall, according to a report from data analytics company Verisk. The firm’s latest Repair and Remodeling Index jumped 3.4% in the April-June quarter compared to the same period last year. That’s a bigger annual increase than the 2.7% rise in inflation in the same period, as measured by the Consumer Price index. The index, which tracks costs for more than 10,000 home improvement products, including appliances, doors, plumbing, and windows, showed a roughly 0.6% increase from the January-March quarter. “While costs did continue to rise, they rose at a slower rate than in the first quarter,” said Greg Pyne, vice president of Pricing at Verisk Property Estimating Solutions. Much of the increase in home repair and remodeling costs appears to be driven primarily by higher labor costs for repair and remodeling work, Verisk noted. The second-quarter jump in costs for home improvement products coincided with the The President administration’s broad rollout of tariffs on imported goods from many of the nation’s major trading partners. But the tariffs didn’t have the expected impact given they were postponed several times and didn’t fully take effect until early August, midway through the third quarter. However, homeowners looking to replace cabinetry could soon see prices increase sharply, following a new volley of tariffs announced by President Donald The President last week that includes a 50% import tax on kitchen cabinets and bathroom vanities due to kick in on Wednesday. John Lovallo, an analyst with UBS, estimates the tariffs on cabinets and vanities could add roughly $280 to the cost of a home. The most labor-intensive types of home repair or remodeling work registered the biggest quarterly increases in labor costs. For example, the cost of replacing tile flooring rose 1.2%, while the cost of remodeling a primary bath or replacing vinyl siding each rose 1% in the April-June period from the previous quarter. Nearly all of the 31 categories of repair and remodeling work tracked by Verisk saw costs increase at least slightly. The latest index puts costs for repair and remodeling at almost 62% higher than they were 10 years ago and more than 73% higher than the first quarter of 2013, when the index debuted. After declining the past two years, homeowner spending on maintenance and home improvement projects increased in the first half of this year, according to researchers at Harvard University. The university’s Joint Center for Housing Studies’ most recent leading indicator of remodeling activity, or LIRA, estimates spending hit $510 billion in the second quarter, a 1.8% increase from a year earlier. However, the researchers project that growth in spending on home improvement and maintenance will slow in 2026, citing weakness in the housing market and slower construction of new homes. The housing market has been in a slump since 2022, when mortgage rates began climbing from historic lows. Sales of previously occupied U.S. homes sank last year to their lowest level in nearly 30 years. And, so far this year, sales are running below where they were at this time in 2024. —Alex Veiga, AP business writer View the full article

Curing cancer. Reducing carbon emissions. Maximizing business efficiency. To achieve all this and develop untold social goods, artificial intelligence “accelerationsts” at companies like Google, Meta, and OpenAI believe their industry has a duty to speed ahead towards superintelligence, or AI that’s far superior to humans at most tasks. Key to that revolution will be the build-out of data centers. Meanwhile, a technical transformation of the workplace already appears to be underway. The nation’s largest employer, Walmart, said that because of its AI implementation, hiring will remain flat over the next three years even if revenues rise. Every business—not just the big ones—will eventually reckon with some version of that transformation. Whoever wields the technology best will get an edge. Regulators, in turn, must find forward-looking ways of controlling the excesses of the winners while mitigating the hardship of the losers—and fast. Sen. Mark Kelly fears that the biggest losers could be working-class people. The Arizona Democrat’s “AI for America” plan, arguably the most comprehensive Democratic answer to the The President administration’s pro-industry “AI Action Plan,” would create an industry-financed “AI Horizon Fund” to pay for energy-grid upgrades and workforce reskilling. But while Kelly’s plan is admirable … it dodges the policy specifics necessary for real legislation. He also fails to grasp certain economic and political realities of the AI industry and its players. And the federal government, as it heads for a shutdown, seems far from capable of passing any thoughtful AI legislation. Here, we attempt to fill in these gaps. Data centers everywhere The AI models poised to reshape business practices reside on servers humming away in the dark within massive single-story buildings called data centers. New data centers represent the most tangible sign of the so-called AI boom. Most estimates say that there are more than 500 “hyperscale” data centers, housing tens or hundreds of thousands of servers, in operation in the U.S. today. Between 50 and 100 more are either licensed or under construction in 2025. Kelly’s home state of Arizona is regarded as one of the most attractive places for data center projects because of the low cost, reliable power, affordable land, easy permitting, and tax incentives. (Apple, Google, Microsoft, and Amazon Web Services (AWS) already have data centers there.) States compete to attract data center projects. They come at a cost. Over the past five years, 10 states have already lost more than $100 million per year to data center tax abatements, with Texas and Virginia each giving away roughly $1 billion, according to a study by Good Jobs First, an economic development policy advocacy group. According to the study, a total of 32 states offer such exemptions to Big Tech companies and their partners; 12 states don’t disclose the exemption amounts, which makes calculating a national total difficult. But it’s in the billions, and climbing. Whether all this investment truly delivers in the long run remains unclear. The infrastructure gap All this is causing Arizona citizens to ask more about these projects. In August, Tucson rejected “Project Blue,” a proposal to build a 290-acre AWS data center near the city. They cited concerns over water use, the potential burden on the local power grid, and the possibility of spiking electricity rates to fund additional power infrastructure. Deloitte estimates that the power demand from AI data centers in the U.S. could grow to about 123 gigawatts by 2035, up from roughly 4 gigawatts required in 2024. The problem is that the existing power grid was built to serve households and businesses, not legions of sprawling data centers. When a new one goes up, the local or regional energy supplier typically must augment the capacity of the grid to meet the demand. And those infrastructure costs are often passed on to residents through rate hikes or tax increases. Those same tax increases and electricity rate hikes could hit businesses in the area, including small businesses. Who should pay? Kelly believes that AI companies should pay for energy infrastructure upgrades necessitated by data center power demand. But his proposal offers no mechanism for metering the AI companies’ financial obligation or amount they should pay into the fund for infrastructure augmentation. Making this workable would require working with utilities and state and local energy regulators to determine a fair fee. To pay for infrastructure upgrades, Kelly could require a small but significant percentage of every megawatt of power purchased by the data center operator to go into a hypothetical fund. Congress could also require data center developers to buy or lease enough land to contain both their facilities and the renewable energy infrastructure to power and cool them. The data center operators could also be required to pay to connect the renewable sources to the local grid, should the power they generate go unutilized. Elon Musk’s xAI, for example, brought its own power to its massive Colossus data center in Memphis. Unfortunately, it was dirty power–methane-powered turbines, and the facility quickly became one of the area’s biggest polluters—a cautionary tale. For a city and its utility, the biggest fear is that an AI data center could pick up and leave, in pursuit of more permissive environmental laws or cheaper power rates, leaving behind an empty hulk and suddenly unemployed local workers. Establishing federal-level environmental guidelines and power-grid responsibilities could remove some of the incentives to leave, forcing data-center operators to consider that at least some of those costs would be the same no matter where they went. Reskilling, but make it AI Tech companies often say that in their ideal world, humans will work in tandem with AI tools, and that new jobs will emerge that require some skill with these technologies as old ones are eliminated. Arriving at the right balance will likely take years. Because of the ongoing, rapid advances in AI, the process may never truly end. In the near term, the biggest beneficiaries are likely to be the companies selling the tools. Kelly argues, reasonably, that the AI companies should help pay for the costs of job displacement and reskilling workers. He suggests that the AI Horizon Fund be used to pay for AI education programs at community colleges, trade schools, and universities. Kelly also believes that the government should pass laws to make sure that workers themselves benefit from AI efficiencies. This could mean “reimagining what the workweek looks like,” as well as policies to strengthen worker bargaining power through stronger union representation. Kelly suggests “an AI economic adjustment program that includes an expanded safety net, including more generous unemployment insurance.” While that’s a good starting point, the approach suggests that job displacement needn’t be a permanent situation, and that workers can be reskilled for the new workforce. In some industries, for some workers, especially older ones, this might simply not be true. A permanent fund Estimating the amount of AI-linked job loss and the resulting need for reskilling, as well as how much AI companies should pay in redress, would be difficult. The Labor Department would need new tracking tools and new methods of compelling businesses to report the AI-related impact on the workforce. As an alternative, the amount AI companies would pay into the AI Horizon Fund for education and safety net costs could also be determined by the gigawatts of power consumed in their data centers to train or power models. There’s another limitation to Kelly’s plan: By focusing solely on “AI companies” to pay into his fund, it ignores the ecosystem of services and resources needed to make it all work. One need only look at recent headlines to understand who the current winners are. While neither OpenAI nor Anthropic is profitable, both are spending billions on Nvidia GPUs, the superfast graphics processing necessary to power AI models. Nvidia will also invest $100 billion to buy a piece of OpenAI, with the timing of the investment dependent on how fast OpenAI deploys the new chips. Perhaps Nvidia should be asked to pay into the AI Horizon Fund? OpenAI also just inked a $300 billion deal to buy cloud-computing capacity (in the form of data centers) from Oracle. (After the deal was announced, Oracle briefly became the most valuable tech company in the world, before being overtaken once again by Nvidia.) Oracle and other cloud-computing providers like Microsoft, AWS, and Google could pay into a federal fund to cover the downsides of AI. Venture capital firms like Andreessen Horowitz and Josh Kushner’s Thrive Capital are betting unprecedented sums on AI startups and stand to make many multiples of their investments before the founders and employees get their cut. It’s reasonable, then, to suggest that the financiers help pay for the broader effects of the technologies in which they invest. A fund with teeth Perhaps the biggest weakness in Kelly’s plan is its failure to explain how Washington would enforce contributions to the fund. But there are options. The federal government could mandate that AI companies and their partners contribute and impose penalties on those who seek to evade their obligations. The Energy Department or the Federal Energy Regulatory Commission could require data center operators with high grid demand to pay for a portion of transmission and distribution upgrades as a condition of connecting to the power grid, drawing inspiration from the Highway Trust Fund or the Universal Service Fund. AI companies, along with data center operators, might contribute to a similar federal fund to pay for grid upgrades and ensure that energy rates don’t rise as a result of their demands on the grid. Kelly appears to favor a public-private partnership approach. To make that work, the government could set up a program with certain mandates while enticing participation through incentives. It might start by setting up an industry association that includes AI companies, utilities, and developers, which would establish a jointly governed trust fund to support power grid improvements and new AI reskilling programs. The government might then offer tax breaks or fund matching to push the stakeholders to contribute. This approach could ease the government’s enforcement burden. It’s also more realistic: The tech industry isn’t accustomed to following federal mandates that cost real money. The safety question The debate over AI safety has drawn out the tension between accelerationists, who don’t want to see their sector’s momentum slowed for any reason, and those who fear the technology’s excesses. The debate has played out in California, where Gov. Gavin Newsom on Monday signed a new landmark AI bill that requires AI companies developing the largest models to create and publicize a set of AI safety and security protocols. In 2024, VCs and AI companies complained about California’s SB 1047, the state’s first major AI safety bill, which focused on the biggest AI models. The AI industry opposed the bill’s requirement that AI companies file periodic safety reports to the state and objected to a provision holding AI developers legally liable for critical harms caused by their models. The bill sailed through the legislature before Newsom vetoed it, arguing that the legislation is overbroad and should focus more on the way AI models are applied. This year, state Sen. Scott Weiner (D-CA) introduced a new AI safety bill, SB 53, that incorporated the lessons learned from the 2024 bill’s defeat. It emphasized transparency, requiring that AI companies establish formal safety frameworks, publish their underlying protocols, and report “critical safety incidents.” With that bill now becoming law—in the AI industry’s home state, no less—it could serve as a model for striking a workable balance between reasonable safety and the drive to pursue AI’s rewards. Kelly and his fellow lawmakers could learn a lot from the process. A political machine Give Kelly credit for trying to get the government in front of the next technology wave, after missing the bus entirely with social media. Yet with a hostile political environment and a Democratic party stuck in the wilderness for now, little progress is likely. The President’s AI plan prioritizes clearing regulatory and funding hurdles for the quick rollout of new data centers. Meanwhile, the AI industry’s influence in Washington, D.C., grows, with the chief aim of killing meaningful AI safety regulation. If some version of Kelly’s plan has any shot (likely as part of some other must-pass legislation), he’ll have to convince his Republican colleagues that now is the time to shape the future of this industry and its impact on workers. Gaining that support isn’t as far-fetched as it might sound. The President’s overall agenda is failing with Americans. Midterm elections are coming. Real oversight may come back into fashion. More importantly, strong AI regulation that protects workers has real populist appeal, something the GOP claims to crave. Survey after survey has shown that both red and blue voters want the government to play a strong role in protecting jobs from AI and ensuring AI safety. Kelly is speaking to them. “Our society thrives when employment is high and income inequality is low,” he writes in the plan. “Our solutions must recognize the value of work, and that some tasks are uniquely human.” View the full article

The average starter home was sold for more than $206,000 in August, yet sales increased by nearly 4% from last year, according to a Redfin report. View the full article

New asset and channel reporting improvements are rolling out to Google Ads Performance Max. This update should make it easier to optimize budgets, identify underperforming elements, and maximize ROI across Google’s full network – Search, Display, Discover, Gmail, YouTube, and Maps. Why we care. These updates make Performance Max feel a lot less like a black box. You should get a clearer view of what’s actually driving results. With new segmentation options and ROI metrics, it’s easier to see how different assets and channels impact conversions, costs, and returns. Asset reporting segmentation. You can now break down asset performance by device, time, conversions, and networks – unlocking new optimization opportunities. Channel performance reporting. Upgrades include: Bulk reporting and downloads at the account level. Cost added to channel visualizations. ROI columns for more transparent reporting. Segmentation by conversion action and ad event type (e.g., engaged view conversions). Diagnostics, such as limited serving due to restrictive bid targets. What’s next. More reporting improvements are coming, Google said, adding that advertisers should keep sharing feedback on what insights they need most. Google’s announcement. Get more visibility in Performance Max with new asset and channel reporting improvements. View the full article

A value proposition template is an essential tool that helps you articulate the unique benefits of your product or service. It addresses specific customer needs in a structured way, making it easier for you to communicate effectively. By clearly outlining what sets you apart from competitors, you can improve your messaging and engage your target audience. Comprehending its key components can greatly impact your business strategy and customer relationships, but the process has its challenges. Key Takeaways A value proposition template clearly defines the unique benefits of a product or service, addressing specific customer needs and problems. It helps businesses differentiate themselves from competitors by focusing on clarity and relevance in their messaging. The template includes essential components like a clear headline, subheadline, and visual elements that enhance engagement and comprehension. Utilizing a value proposition template can significantly improve customer engagement and loyalty, driving higher conversion rates and reducing acquisition costs. Regularly refining the value proposition based on customer feedback ensures ongoing relevance and alignment with actual customer needs. What Is a Value Proposition? A value proposition is an essential element in any business strategy, as it clearly defines the unique benefits your product or service offers. It’s a concise statement that addresses your customers’ specific needs and problems, helping you stand out from competitors. When creating a value proposition slide, focus on clarity and relevance, ensuring it highlights what makes your offering a better choice. A value proposition template can guide you in structuring this statement effectively. For inspiration, look at a value proposition slide example that demonstrates emotional appeal and specific benefits. Remember to keep it short, ideally two to three sentences, focusing on distinct advantages rather than exaggerated claims or features. This clarity attracts and retains customers. The Importance of a Value Proposition Template A value proposition template helps you maintain clarity and focus in your messaging, making it easier for potential customers to understand your unique benefits. By using this structured approach, you can improve your communication strategy, ensuring consistency across all marketing channels. In the end, this clarity not just differentiates you from competitors but likewise resonates with your target audience, driving engagement and loyalty. Clarity and Focus Grasping the importance of clarity and focus in your value proposition is crucial for effectively communicating your brand’s unique benefits. A well-structured value proposition template, like a powerpoint value proposition, helps you articulate these benefits clearly. Here are key advantages of maintaining clarity and focus: It addresses specific customer needs, making your offering more relevant. It streamlines the creation process, allowing for quicker alignment across teams. It improves comprehension among stakeholders, facilitating better communication. It incorporates customer feedback, ensuring your messaging resonates with your target audience. Enhanced Communication Strategy When you create a value proposition template, you’re not just outlining your product’s benefits; you’re enhancing your overall communication strategy. This structured format helps you articulate the unique value your products or services offer, ensuring your messaging remains consistent across marketing channels. By addressing customer pain points directly, you improve engagement, making it easier for potential clients to grasp how you can solve their problems. Moreover, a well-defined value proposition can boost your investor pitches by showcasing your awareness of market needs and your competitive edge. Companies that utilize these templates often see higher conversion rates, as they guide the creation of compelling marketing materials that resonate with your target audience effectively. Key Components of a Value Proposition Template Grasping the key components of a value proposition template is fundamental for effectively communicating your product’s benefits. To craft an impactful value proposition, focus on these critical elements: Clear Headline: Capture your product’s primary benefit or unique selling point to grab attention. Subheadline: Elaborate on the service or product, identify your target audience, and highlight competitive advantages. Visual Element: Use images, infographics, or videos to improve comprehension and engagement, making your message more memorable. Structured Messaging: Guarantee clarity and consistency in your messaging, which is essential for effective marketing and customer engagement. Understanding Customer Needs and Jobs to Be Done To effectively understand customer needs, you need to identify their key pain points and analyze the desired outcomes they seek. By recognizing the specific problems customers face, you can tailor your solutions to address those issues directly. This approach not only improves your value proposition but additionally aligns your offerings with what customers truly want. Identifying Key Pain Points How can you effectively identify key pain points that your customers experience? Start by grasping the specific problems they face, which your product or service can address. Research indicates that 71% of consumers feel frustrated when their needs aren’t met, making it crucial to recognize these pain points. Use the “Jobs to Be Done” framework to see what tasks customers “hire” your offerings to complete. Here are some strategies: Analyze customer feedback for recurring themes and issues. Conduct surveys to gather direct insights about their frustrations. Observe competitors and their customer reviews to identify gaps. Engage with customers through interviews to explore their needs deeply. Analyzing Desired Outcomes What drives your customers to choose one product over another? Comprehending customer needs is crucial, as it involves identifying specific jobs they hire products or services to complete. The “Jobs to Be Done” framework, developed by Clayton Christensen, emphasizes that customers favor solutions addressing their problems or aspirations. To align your offerings with desired outcomes, gather insights through customer interviews, surveys, and feedback loops. This approach helps you discover unmet needs and innovation opportunities. When you effectively map out customer jobs, you can create customized solutions that improve satisfaction and loyalty. Companies that prioritize alignment with customer expectations tend to succeed more often, as they directly tackle pain points and deliver relevant solutions. How to Create a Value Proposition Template Creating a value proposition template is essential for clearly communicating the benefits of your product or service. Start by identifying the specific problem your offering solves for customers. Then, outline the unique benefits in a concise manner. Here are some steps to take into account: Craft a compelling headline that grabs attention and summarizes your value. Develop a subheadline that supports your headline by highlighting key benefits. Incorporate customer insights by using their language and addressing their pain points. Use a structured format that allows for easy modification and testing based on feedback. A well-crafted template serves as a foundational tool for your marketing efforts, ensuring consistent communication of your brand’s value across various platforms. Mapping Out the Value Proposition Canvas To effectively map out the Value Proposition Canvas, you need to start by comprehending customer needs. Identify key competitors in your market to see how your offering stacks up against theirs. Finally, articulate the unique benefits your product or service provides, ensuring they align with the specific challenges your customers face. Understanding Customer Needs How can you effectively understand customer needs to shape your value proposition? Start by using the Value Proposition Canvas, focusing on two key components: the Customer Profile and the Value Map. Identify customer jobs, including functional, social, and emotional tasks they aim to complete. Recognize customer pains, such as challenges and frustrations that hinder their satisfaction. Understand customer gains, which outlines the positive outcomes they seek, like time savings or improved experiences. Visualize how your product or service addresses these needs, ensuring a clear alignment between what customers want and your offerings. Identifying Key Competitors Where do your competitors stand in relation to your value proposition? Using the Value Proposition Canvas, you can map out key competitors and their offerings. This helps you visualize the competitive terrain and understand how others address customer needs. By analyzing their strengths and weaknesses, you can identify gaps in the market that you can exploit. Competitor Key Offerings Competitor A Affordable pricing, basic features Competitor B Advanced technology, premium support Competitor C Niche focus, personalized service Articulating Unique Benefits Although grasping your competitors is crucial, articulating the unique benefits of your offerings is equally important in defining your value proposition. Using the Value Proposition Canvas, you can effectively map out how your products meet customer needs. Focus on both functional and emotional aspects to resonate with your audience. Here are key points to reflect on: Identify customer jobs, pains, and gains to understand their needs. Tailor your offerings to address both practical solutions and emotional connections. Regularly update your canvas based on customer feedback to refine your messaging. Guarantee alignment between your product development and evolving customer expectations. Essential Questions for Your Value Proposition What critical questions should you consider when developing your value proposition? Start by identifying the job your customers hire your brand to do. Understand their specific needs and pain points to connect effectively. Next, analyze your competitors to define how you differentiate your offerings in the market. Additionally, consider both emotional and rational drivers that influence customer behavior. Addressing these can improve your value proposition’s impact. Make sure to articulate both tangible and intangible benefits, ensuring they align with customer expectations. Finally, don’t forget to test your value proposition by gathering feedback from potential customers to refine your messaging. Question Purpose Outcome What job do customers hire you for? Identify core customer needs Improved relevance How do you differentiate? Analyze competitors Unique positioning What benefits do you provide? Clarify value offered Enhanced customer alignment Steve Blank’s Formula for Crafting Value Propositions Steve Blank’s formula for crafting value propositions offers a straightforward approach to articulating the unique value your business provides. This formula, structured as “We help (X) do (Y) by doing (Z),” focuses on identifying your target customer, the job they need to accomplish, and how your product fulfills that need. Consider these key points to improve your value proposition development: Concentrate on benefits rather than mere features. Use customer language to boost relatability and effectiveness. Brainstorm individually to generate ideas, then refine them in group discussions. Simplify your messaging to clearly convey your unique selling points. Writing and Refining Your Value Proposition When writing and refining your value proposition, focus on key elements like your target audience and their specific needs. Use clear, effective language that resonates with customers, making certain your message is concise and impactful. Keep iterating based on feedback to confirm your proposition remains relevant and compelling. Key Elements to Consider To create an effective value proposition, it’s essential to focus on several key elements that resonate with your target audience. Start with a compelling headline that highlights the main benefit of your product or service. Next, include a subheadline that elaborates on what you offer and your competitive advantage. Incorporate a visual element to improve engagement and comprehension. Additionally, remember to address specific customer jobs, pains, and gains, aligning your message with their needs. Use customer language to guarantee clarity, and keep your value proposition concise—ideally 2-5 sentences long. A riveting headline An informative subheadline Relevant visual elements Focus on customer needs and desires Iterative Refinement Process Crafting a strong value proposition is just the beginning; refining it through an iterative process helps guarantee it resonates with your audience. Start by gathering feedback from a small group, creating clear options before reaching a broader audience. During team brainstorming sessions, compare individual responses to uncover diverse insights about customer priorities. Step Action Outcome Gather Initial Feedback Engage a small group Identify key themes Analyze Responses Compare insights Understand customer priorities Test and Adjust Regularly seek feedback Improve clarity and relevance Regular testing against customer feedback allows for necessary adjustments, ensuring your value proposition remains relevant and aligned with evolving market expectations. Effective Customer Language How can you guarantee your value proposition truly resonates with your target audience? Start by using effective customer language that aligns with their specific needs and desires. This approach not only improves engagement but can additionally boost conversion rates by up to 20%. Here are key strategies to refine your value proposition: Use terminology that reflects your audience’s pain points and desired outcomes. Incorporate customer feedback to confirm your language resonates well. Conduct A/B testing on different versions to see which phrases capture interest. Focus on customer emotions and motivations to create a relatable message. Modern Examples of Effective Value Propositions What makes a value proposition stand out in today’s competitive market? Let’s look at some modern examples that effectively capture their target audiences. Company Value Proposition Slack Boosts team communication, used by 77% of Fortune 500 Bloom & Wild Flat-packed flowers fit through letterboxes, simplifying delivery Airbnb Unique local experiences for travelers, personalized stays Fjällräven Sustainable, high-quality outdoor products with premium materials Juniper Print Shop Affordable art and decor, supports women artists These companies clearly communicate their advantages, whether it’s improving collaboration, simplifying processes, or promoting sustainability. By focusing on what matters most to customers, they create compelling reasons to choose their products and services. Common Mistakes to Avoid When Creating a Value Proposition When developing a strong value proposition, have you considered the common pitfalls that could undermine your message? Avoid these mistakes to strengthen your offering and connect with your audience: Confusing features with benefits: Clearly differentiate what your product does from how it improves customers’ lives. Overcomplicating language: Use simple, clear terms to convey your message quickly and effectively. Neglecting customer feedback: Validate your proposition with real input to guarantee it aligns with customer expectations. Using a one-size-fits-all approach: Tailor your value proposition to specific segments to make a stronger impact. Testing Your Value Proposition for Effectiveness Testing your value proposition is essential for ensuring it resonates with your target audience. Start by gathering feedback through customer surveys and A/B testing, which helps you identify which version connects best. Utilize tools like Google Forms or TypeForm for quick online surveys, allowing you to capture honest insights. Furthermore, analyze website metrics, such as visitor interaction and engagement, to assess real-time effectiveness. Engage with your ideal buyer personas during testing to gain a deeper comprehension of their needs. This iterative testing and refinement process, based on customer feedback, can lead to better alignment with market demands and finally increase your conversion rates. Regularly revisiting this process helps maintain relevance in a changing market. Evolving Your Value Proposition With Customer Feedback Evolving your value proposition with customer feedback is crucial for staying relevant in a competitive market, as it helps guarantee your offerings align with actual customer needs. Regularly collecting feedback through surveys or interviews can reveal improvement areas, ensuring your value proposition remains compelling. You can additionally use A/B testing to determine which messaging resonates better with customers, guiding your marketing strategies. Here are some ways to incorporate customer feedback: Gather insights to improve emotional connections with your audience. Identify pain points that need addressing in your offerings. Continuously refine your value proposition based on feedback. Demonstrate commitment to comprehending your customers’ needs, nurturing loyalty. The Impact of a Strong Value Proposition on Business Growth A strong value proposition directly influences your business growth by clearly communicating the unique benefits your product or service offers. When you effectively convey these advantages, you can increase conversion rates by up to 100%. Companies with clear value propositions are ten times more likely to achieve product-market fit, leading to higher customer satisfaction and retention. Furthermore, effective value propositions nurture customer loyalty; 64% of consumers would switch brands for a stronger offering. By defining your value proposition well, you can reduce customer acquisition costs by 30-50%, attracting qualified leads. Nevertheless, keep in mind that 70% of small businesses struggle with this aspect, which can hinder growth and increase competition challenges. Frequently Asked Questions What Does a Value Proposition Do for a Business? A value proposition clearly defines what makes your business unique, addressing customer needs and pain points. It helps you attract and retain customers by communicating the specific benefits your products or services offer. A strong value proposition differentiates you from competitors, nurturing trust and satisfaction among your audience. It guides your marketing strategies, ensuring your messaging is consistent and compelling, which can eventually lead to increased customer loyalty and business growth. What Is a Value Proposition Template? A value proposition template is a structured tool that helps you define and communicate the unique benefits of your product or service. It typically includes a headline, subheadline, and visual elements to convey your offering’s main advantages. By using this template, you can clarify customer needs, differentiate from competitors, and address specific problems your product solves. It serves as a guiding framework for creating consistent marketing messages across various platforms. What Is the Key Benefit of Having a Strong Value Proposition for a Business? Having a strong value proposition is essential for your business since it clearly outlines the unique benefits you offer. This helps you stand out from competitors and attract the right customers. What Are Some Examples of a Value Proposition? To understand value propositions, consider how companies communicate their unique benefits. For instance, Slack emphasizes improved team collaboration, whereas Bloom & Wild offers convenience with flat-pack flower delivery. Airbnb highlights local experiences for travelers, and Fjällräven focuses on sustainable outdoor clothing for eco-conscious consumers. Finally, Juniper Print Shop provides affordable art options from women artists. Each example illustrates how a clear value proposition addresses customer needs effectively and distinctively. Conclusion In conclusion, a value proposition template is vital for clearly communicating your product’s unique benefits. By comprehending customer needs and crafting a compelling message, you can differentiate your business in a competitive market. Utilize the key components we’ve discussed, avoid common mistakes, and continually test and refine your proposition based on customer feedback. A strong value proposition not just improves customer engagement but likewise drives business growth, ensuring you meet market demands effectively. Image Via Envato This article, "What Is a Value Proposition Template and How Can It Benefit Your Business?" was first published on Small Business Trends View the full article

A value proposition template is an essential tool that helps you articulate the unique benefits of your product or service. It addresses specific customer needs in a structured way, making it easier for you to communicate effectively. By clearly outlining what sets you apart from competitors, you can improve your messaging and engage your target audience. Comprehending its key components can greatly impact your business strategy and customer relationships, but the process has its challenges. Key Takeaways A value proposition template clearly defines the unique benefits of a product or service, addressing specific customer needs and problems. It helps businesses differentiate themselves from competitors by focusing on clarity and relevance in their messaging. The template includes essential components like a clear headline, subheadline, and visual elements that enhance engagement and comprehension. Utilizing a value proposition template can significantly improve customer engagement and loyalty, driving higher conversion rates and reducing acquisition costs. Regularly refining the value proposition based on customer feedback ensures ongoing relevance and alignment with actual customer needs. What Is a Value Proposition? A value proposition is an essential element in any business strategy, as it clearly defines the unique benefits your product or service offers. It’s a concise statement that addresses your customers’ specific needs and problems, helping you stand out from competitors. When creating a value proposition slide, focus on clarity and relevance, ensuring it highlights what makes your offering a better choice. A value proposition template can guide you in structuring this statement effectively. For inspiration, look at a value proposition slide example that demonstrates emotional appeal and specific benefits. Remember to keep it short, ideally two to three sentences, focusing on distinct advantages rather than exaggerated claims or features. This clarity attracts and retains customers. The Importance of a Value Proposition Template A value proposition template helps you maintain clarity and focus in your messaging, making it easier for potential customers to understand your unique benefits. By using this structured approach, you can improve your communication strategy, ensuring consistency across all marketing channels. In the end, this clarity not just differentiates you from competitors but likewise resonates with your target audience, driving engagement and loyalty. Clarity and Focus Grasping the importance of clarity and focus in your value proposition is crucial for effectively communicating your brand’s unique benefits. A well-structured value proposition template, like a powerpoint value proposition, helps you articulate these benefits clearly. Here are key advantages of maintaining clarity and focus: It addresses specific customer needs, making your offering more relevant. It streamlines the creation process, allowing for quicker alignment across teams. It improves comprehension among stakeholders, facilitating better communication. It incorporates customer feedback, ensuring your messaging resonates with your target audience. Enhanced Communication Strategy When you create a value proposition template, you’re not just outlining your product’s benefits; you’re enhancing your overall communication strategy. This structured format helps you articulate the unique value your products or services offer, ensuring your messaging remains consistent across marketing channels. By addressing customer pain points directly, you improve engagement, making it easier for potential clients to grasp how you can solve their problems. Moreover, a well-defined value proposition can boost your investor pitches by showcasing your awareness of market needs and your competitive edge. Companies that utilize these templates often see higher conversion rates, as they guide the creation of compelling marketing materials that resonate with your target audience effectively. Key Components of a Value Proposition Template Grasping the key components of a value proposition template is fundamental for effectively communicating your product’s benefits. To craft an impactful value proposition, focus on these critical elements: Clear Headline: Capture your product’s primary benefit or unique selling point to grab attention. Subheadline: Elaborate on the service or product, identify your target audience, and highlight competitive advantages. Visual Element: Use images, infographics, or videos to improve comprehension and engagement, making your message more memorable. Structured Messaging: Guarantee clarity and consistency in your messaging, which is essential for effective marketing and customer engagement. Understanding Customer Needs and Jobs to Be Done To effectively understand customer needs, you need to identify their key pain points and analyze the desired outcomes they seek. By recognizing the specific problems customers face, you can tailor your solutions to address those issues directly. This approach not only improves your value proposition but additionally aligns your offerings with what customers truly want. Identifying Key Pain Points How can you effectively identify key pain points that your customers experience? Start by grasping the specific problems they face, which your product or service can address. Research indicates that 71% of consumers feel frustrated when their needs aren’t met, making it crucial to recognize these pain points. Use the “Jobs to Be Done” framework to see what tasks customers “hire” your offerings to complete. Here are some strategies: Analyze customer feedback for recurring themes and issues. Conduct surveys to gather direct insights about their frustrations. Observe competitors and their customer reviews to identify gaps. Engage with customers through interviews to explore their needs deeply. Analyzing Desired Outcomes What drives your customers to choose one product over another? Comprehending customer needs is crucial, as it involves identifying specific jobs they hire products or services to complete. The “Jobs to Be Done” framework, developed by Clayton Christensen, emphasizes that customers favor solutions addressing their problems or aspirations. To align your offerings with desired outcomes, gather insights through customer interviews, surveys, and feedback loops. This approach helps you discover unmet needs and innovation opportunities. When you effectively map out customer jobs, you can create customized solutions that improve satisfaction and loyalty. Companies that prioritize alignment with customer expectations tend to succeed more often, as they directly tackle pain points and deliver relevant solutions. How to Create a Value Proposition Template Creating a value proposition template is essential for clearly communicating the benefits of your product or service. Start by identifying the specific problem your offering solves for customers. Then, outline the unique benefits in a concise manner. Here are some steps to take into account: Craft a compelling headline that grabs attention and summarizes your value. Develop a subheadline that supports your headline by highlighting key benefits. Incorporate customer insights by using their language and addressing their pain points. Use a structured format that allows for easy modification and testing based on feedback. A well-crafted template serves as a foundational tool for your marketing efforts, ensuring consistent communication of your brand’s value across various platforms. Mapping Out the Value Proposition Canvas To effectively map out the Value Proposition Canvas, you need to start by comprehending customer needs. Identify key competitors in your market to see how your offering stacks up against theirs. Finally, articulate the unique benefits your product or service provides, ensuring they align with the specific challenges your customers face. Understanding Customer Needs How can you effectively understand customer needs to shape your value proposition? Start by using the Value Proposition Canvas, focusing on two key components: the Customer Profile and the Value Map. Identify customer jobs, including functional, social, and emotional tasks they aim to complete. Recognize customer pains, such as challenges and frustrations that hinder their satisfaction. Understand customer gains, which outlines the positive outcomes they seek, like time savings or improved experiences. Visualize how your product or service addresses these needs, ensuring a clear alignment between what customers want and your offerings. Identifying Key Competitors Where do your competitors stand in relation to your value proposition? Using the Value Proposition Canvas, you can map out key competitors and their offerings. This helps you visualize the competitive terrain and understand how others address customer needs. By analyzing their strengths and weaknesses, you can identify gaps in the market that you can exploit. Competitor Key Offerings Competitor A Affordable pricing, basic features Competitor B Advanced technology, premium support Competitor C Niche focus, personalized service Articulating Unique Benefits Although grasping your competitors is crucial, articulating the unique benefits of your offerings is equally important in defining your value proposition. Using the Value Proposition Canvas, you can effectively map out how your products meet customer needs. Focus on both functional and emotional aspects to resonate with your audience. Here are key points to reflect on: Identify customer jobs, pains, and gains to understand their needs. Tailor your offerings to address both practical solutions and emotional connections. Regularly update your canvas based on customer feedback to refine your messaging. Guarantee alignment between your product development and evolving customer expectations. Essential Questions for Your Value Proposition What critical questions should you consider when developing your value proposition? Start by identifying the job your customers hire your brand to do. Understand their specific needs and pain points to connect effectively. Next, analyze your competitors to define how you differentiate your offerings in the market. Additionally, consider both emotional and rational drivers that influence customer behavior. Addressing these can improve your value proposition’s impact. Make sure to articulate both tangible and intangible benefits, ensuring they align with customer expectations. Finally, don’t forget to test your value proposition by gathering feedback from potential customers to refine your messaging. Question Purpose Outcome What job do customers hire you for? Identify core customer needs Improved relevance How do you differentiate? Analyze competitors Unique positioning What benefits do you provide? Clarify value offered Enhanced customer alignment Steve Blank’s Formula for Crafting Value Propositions Steve Blank’s formula for crafting value propositions offers a straightforward approach to articulating the unique value your business provides. This formula, structured as “We help (X) do (Y) by doing (Z),” focuses on identifying your target customer, the job they need to accomplish, and how your product fulfills that need. Consider these key points to improve your value proposition development: Concentrate on benefits rather than mere features. Use customer language to boost relatability and effectiveness. Brainstorm individually to generate ideas, then refine them in group discussions. Simplify your messaging to clearly convey your unique selling points. Writing and Refining Your Value Proposition When writing and refining your value proposition, focus on key elements like your target audience and their specific needs. Use clear, effective language that resonates with customers, making certain your message is concise and impactful. Keep iterating based on feedback to confirm your proposition remains relevant and compelling. Key Elements to Consider To create an effective value proposition, it’s essential to focus on several key elements that resonate with your target audience. Start with a compelling headline that highlights the main benefit of your product or service. Next, include a subheadline that elaborates on what you offer and your competitive advantage. Incorporate a visual element to improve engagement and comprehension. Additionally, remember to address specific customer jobs, pains, and gains, aligning your message with their needs. Use customer language to guarantee clarity, and keep your value proposition concise—ideally 2-5 sentences long. A riveting headline An informative subheadline Relevant visual elements Focus on customer needs and desires Iterative Refinement Process Crafting a strong value proposition is just the beginning; refining it through an iterative process helps guarantee it resonates with your audience. Start by gathering feedback from a small group, creating clear options before reaching a broader audience. During team brainstorming sessions, compare individual responses to uncover diverse insights about customer priorities. Step Action Outcome Gather Initial Feedback Engage a small group Identify key themes Analyze Responses Compare insights Understand customer priorities Test and Adjust Regularly seek feedback Improve clarity and relevance Regular testing against customer feedback allows for necessary adjustments, ensuring your value proposition remains relevant and aligned with evolving market expectations. Effective Customer Language How can you guarantee your value proposition truly resonates with your target audience? Start by using effective customer language that aligns with their specific needs and desires. This approach not only improves engagement but can additionally boost conversion rates by up to 20%. Here are key strategies to refine your value proposition: Use terminology that reflects your audience’s pain points and desired outcomes. Incorporate customer feedback to confirm your language resonates well. Conduct A/B testing on different versions to see which phrases capture interest. Focus on customer emotions and motivations to create a relatable message. Modern Examples of Effective Value Propositions What makes a value proposition stand out in today’s competitive market? Let’s look at some modern examples that effectively capture their target audiences. Company Value Proposition Slack Boosts team communication, used by 77% of Fortune 500 Bloom & Wild Flat-packed flowers fit through letterboxes, simplifying delivery Airbnb Unique local experiences for travelers, personalized stays Fjällräven Sustainable, high-quality outdoor products with premium materials Juniper Print Shop Affordable art and decor, supports women artists These companies clearly communicate their advantages, whether it’s improving collaboration, simplifying processes, or promoting sustainability. By focusing on what matters most to customers, they create compelling reasons to choose their products and services. Common Mistakes to Avoid When Creating a Value Proposition When developing a strong value proposition, have you considered the common pitfalls that could undermine your message? Avoid these mistakes to strengthen your offering and connect with your audience: Confusing features with benefits: Clearly differentiate what your product does from how it improves customers’ lives. Overcomplicating language: Use simple, clear terms to convey your message quickly and effectively. Neglecting customer feedback: Validate your proposition with real input to guarantee it aligns with customer expectations. Using a one-size-fits-all approach: Tailor your value proposition to specific segments to make a stronger impact. Testing Your Value Proposition for Effectiveness Testing your value proposition is essential for ensuring it resonates with your target audience. Start by gathering feedback through customer surveys and A/B testing, which helps you identify which version connects best. Utilize tools like Google Forms or TypeForm for quick online surveys, allowing you to capture honest insights. Furthermore, analyze website metrics, such as visitor interaction and engagement, to assess real-time effectiveness. Engage with your ideal buyer personas during testing to gain a deeper comprehension of their needs. This iterative testing and refinement process, based on customer feedback, can lead to better alignment with market demands and finally increase your conversion rates. Regularly revisiting this process helps maintain relevance in a changing market. Evolving Your Value Proposition With Customer Feedback Evolving your value proposition with customer feedback is crucial for staying relevant in a competitive market, as it helps guarantee your offerings align with actual customer needs. Regularly collecting feedback through surveys or interviews can reveal improvement areas, ensuring your value proposition remains compelling. You can additionally use A/B testing to determine which messaging resonates better with customers, guiding your marketing strategies. Here are some ways to incorporate customer feedback: Gather insights to improve emotional connections with your audience. Identify pain points that need addressing in your offerings. Continuously refine your value proposition based on feedback. Demonstrate commitment to comprehending your customers’ needs, nurturing loyalty. The Impact of a Strong Value Proposition on Business Growth A strong value proposition directly influences your business growth by clearly communicating the unique benefits your product or service offers. When you effectively convey these advantages, you can increase conversion rates by up to 100%. Companies with clear value propositions are ten times more likely to achieve product-market fit, leading to higher customer satisfaction and retention. Furthermore, effective value propositions nurture customer loyalty; 64% of consumers would switch brands for a stronger offering. By defining your value proposition well, you can reduce customer acquisition costs by 30-50%, attracting qualified leads. Nevertheless, keep in mind that 70% of small businesses struggle with this aspect, which can hinder growth and increase competition challenges. Frequently Asked Questions What Does a Value Proposition Do for a Business? A value proposition clearly defines what makes your business unique, addressing customer needs and pain points. It helps you attract and retain customers by communicating the specific benefits your products or services offer. A strong value proposition differentiates you from competitors, nurturing trust and satisfaction among your audience. It guides your marketing strategies, ensuring your messaging is consistent and compelling, which can eventually lead to increased customer loyalty and business growth. What Is a Value Proposition Template? A value proposition template is a structured tool that helps you define and communicate the unique benefits of your product or service. It typically includes a headline, subheadline, and visual elements to convey your offering’s main advantages. By using this template, you can clarify customer needs, differentiate from competitors, and address specific problems your product solves. It serves as a guiding framework for creating consistent marketing messages across various platforms. What Is the Key Benefit of Having a Strong Value Proposition for a Business? Having a strong value proposition is essential for your business since it clearly outlines the unique benefits you offer. This helps you stand out from competitors and attract the right customers. What Are Some Examples of a Value Proposition? To understand value propositions, consider how companies communicate their unique benefits. For instance, Slack emphasizes improved team collaboration, whereas Bloom & Wild offers convenience with flat-pack flower delivery. Airbnb highlights local experiences for travelers, and Fjällräven focuses on sustainable outdoor clothing for eco-conscious consumers. Finally, Juniper Print Shop provides affordable art options from women artists. Each example illustrates how a clear value proposition addresses customer needs effectively and distinctively. Conclusion In conclusion, a value proposition template is vital for clearly communicating your product’s unique benefits. By comprehending customer needs and crafting a compelling message, you can differentiate your business in a competitive market. Utilize the key components we’ve discussed, avoid common mistakes, and continually test and refine your proposition based on customer feedback. A strong value proposition not just improves customer engagement but likewise drives business growth, ensuring you meet market demands effectively. Image Via Envato This article, "What Is a Value Proposition Template and How Can It Benefit Your Business?" was first published on Small Business Trends View the full article

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