Read your company’s “value propositions” and those of your competition. Don’t they sound the same? Can you really differentiate between yours and those of your competitors? If you can’t articulate a meaningful and differentiated value proposition, then why should the customer choose your offering?
In defining and communicating your value proposition, you must focus on several issues.
- First, the customer must have a real need or a business problem. This seems obvious, but too often, we see sales people pursuing opportunities in which the customer has no need to buy.
- Value is determined by the customer. If you do not know what the customer values,
then you cannot present meaningful value proposition.
- To win, the customer must perceive that your value proposition must be superior to every alternative being considered. This includes competitors, or the possibility of the customer doing nothing. It is your responsibility to differentiate your solution, producing a superior value proposition.
Developing your value proposition is not rocket science. Here are some tips, based on our experience:
you are selling. Don’t ignore the non-product aspects of what you deliver
and how these might help differentiate your offering.
What do we do in helping our customers increase their revenue? What do we do in helping our customers decrease their costs? What do we do in helping our customer increase their profitability? What do we do to help our customers better respond to the needs of their
What do we do to help our customers improve their productivity? What do we do to help our customers improve their cycle time/speed? What do we do to help our customers improve the satisfaction, retention, and
growth of their customers?
What do we do to help our customers improve their quality? What do we do to help our customers improve the satisfaction of their employees? How can we help them in this economic downturn?
Developing and communicating a differentiated value proposition in each sales situation is critical to success. There is a lot of hype about value propositions. Focusing on the elements listed above will help guide you to greater success with your customers.
(For a more comprehensive set of white papers on developing and communicating unique value, send an email to me, email@example.com, I'll be glad to forward them to you.)