Building a Value Proposition
"The alternative to knowing your value and selling it, is discounting your price"
- Mack Hanan - Consultative Selling
Value is what customers get out of your products, not what goes into them, but all too often the focus is on the features and not the benefits of the product or service.
Those who have tried to identify benefits present them in generic terms which cannot be clearly differentiated from the competition, are not quantified and are expressed in language used by the supplier and not that of the customer.
Building a Value Proposition is about a practical and rapid way to define the proposition in a compelling and meaningful way to the end client.
Key QuestionsYou need to be able to answer a series of key questions to build a value proposition and the workshop is structured to achieve this:
- What markets are you trying to sell into? Can you define the vertical or horizontal market and the types of individuals?
- What are the types of customer concerns and issues that your proposition will address?
- What is it about the customer’s business that your proposition effects?
- How does the proposition achieve this effect?
- How big will the effect be, can you measure it and define it?
- What is different about your proposition Vs competition?
- What proof points and references do you have?
The output from the workshop is a well defined proposition which can be used to:
- Create marketing collateral in meaningful and compelling customer terms
- Support and brief sales in qualification and value selling
- Create a strong competitive differentiation
With a well articulated compelling value proposition you are prepared for success.