Whenever a selling opportunity arises, whether face-to-face or online, there is a critical moment of truth… It’s at this moment that your value proposition needs to score a bullseye in relation to your potential customer. This is arguably the most important instant in your sales process – the first red-light-green-light moment that will either see the process moving forward or stopping dead in it’s tracks.
Nowadays people generally are spoiled for choice when it comes to making purchases. One can buy virtually anything you want from a variety of suppliers, local or international. So, as a seller, you have to be able to show, clearly and quickly, why anyone should buy from you and not from someone else. It’s your value proposition that will be key in determining their next move.
So what is a value proposition?
Simply put: a value proposition is a promise of value to be delivered.
It usually takes the form of a statement that states:
how your product solves a problem or produces a desired result
how the customer will benefit
differentiates your product from alternatives available in the market
What are the common mistakes people make when they present?
As simple as it sounds, unless you have payed special attention to crafting your value proposition, chances are you may botch it.
Firstly, get clear about what in fact your value proposition is. Hard facts. Not words. Don’t set out to compose something. Set out to identify what it is that you do that represents value to your customer. Only when you have that can you start to work out how to best communicate it.
Secondly, your value proposition should not be confused with other branding statements such as your vision, mission or other slogans. Clearly the piece below is not a value proposition.
“Harley-Davidson stands for independence, freedom, individuality, expressing oneself, adventure on the open road, and experiencing life to its fullest.” Joanne Bischman, VP of marketing for Harley-Davidson.
Clearly a value proposition.
Thirdly, your value proposition must be written from the point of view of the customer, almost as if he/she was saying it. So avoid using words like “We pride ourselves…..”. You see, the customer is already thinking about your product in their terms, your value proposition must fit in neatly with that internal conversation.
The format of a value proposition
There are no rules here; you can do whatever fits best, as long as it is clear and succinct. It could be a single sentence, a couple of sentences, a heading and two or three bullet points or even a visual image. Avoid cliches.
Why is it important that you have a formal value proposition?
Anyone looking to buy something is looking to get the best value they can for their hard earned dollar. The buying trigger will only be pulled when the balance between value and price tips towards value in their mind. A well articulated value proposition will do that job for you.
So have a look at how you present to new prospects, do you have this covered?