Six Tips for Strengthening Your Value Proposition

Anyone who's spent time in sales knows that the buying process often boils down to one or two key questions: Why should I buy what you're selling? And why should I buy it from you? A well-conceived value proposition will go a long way toward answering those questions.

But what is a value proposition? Simply stated, a value proposition is a brief statement that clearly outlines the benefits customers get from using your products and doing business with your company. It cuts through all the noise and focuses squarely on the customer and their needs.

So how can you create an effective value proposition? Here are six tips to get you started.

Get to know your customers. What makes them tick? What principles do they value? What challenges do they face? And how can your product or service help them reach their goals?

Study the competition. Start with their website, product line, and marketing literature. Visit their facility, meet their staff, and talk to their customers. Learn how they're positioning themselves and what you can do to counteract their claims.

Discover what makes you different. Take some time to assess your own company. Look at your culture, values, and product line. Ask your top customers why they buy from you. Get input from your employees, too. Find out what's unique about your company -- and how those qualities can benefit your customers.

Focus on benefits instead of features. Benefits tend to be more customer-focused, while features can seem self-absorbed. If your value proposition doesn't tell your customers what's in it for them, keep trying.

Be specific. Avoid the temptation to talk in generalities. Consider Geico's "15 minutes could save you 15% or more on car insurance" versus a more generic "we'll save you time and money." Both may be true, but the first is far more specific.

Make it tangible. What real-world results can people expect from your products or services? Will they save time? Cut expenses? Improve efficiency? Increase revenues? Include the answers in your value proposition.

There you have it: six tips for strengthening your value proposition. Can you think of any others? Or maybe you'd like to share a favorite value proposition (your own, perhaps?). Whatever the case, we'd love to hear your thoughts and ideas in the comments below.

Comments

Why Custom Notepads are a Perfect Promotional Tool

Want to give your business a gift that keeps giving? You can do this by giving gifts to other people. According to the ACI 2019 Impressions study , promotional products bring some of the highest rates of return on advertising, trumping all other forms of media. Consumers surveyed said they were nearly 2.5 times more likely to have a favorable opinion of promotional products compared to online advertising, and consumers under 55 preferred a promotional product message over EVERY other advertising medium (including print, online, or traditional mass media). Data shows the average household in the U.S. owns 30 promotional items, which means if there are 120 million households in America, over three billion company logos are floating around at any moment! Looking for a fun but practical promo gift for your clients and prospects? Custom printed notepads are a great, economical option. Notepads are designed for utility and flexibility, meaning people can take them anywhere and will cer...

How to Prepare Large-Format Projects for Print

When you want to flaunt your finest, large-format printing can make an oversized impact! Large-format printing includes products printed at a length of 18-100 inches with a minimum width of 60 inches. Some of the most popular items include posters, window graphics, yard signs, vehicle wraps, vinyl banners, media backdrops, and more. While large-scale graphics are stunning, these projects require special preparation, so these images remain vibrant and sharp when stretched to larger-than-life proportions. If you plan to go BIG, here are some factors to consider. Communicate from the Start When diving in on a large-scale printing, create a detailed brief and use this to speak to your printer as early as possible. Try to include everything from the size, design, materials, and deadlines. Your printer will work with you to be sure your ideas are achievable, and the timeline is realistic. Set Appropriate Image Specifications As you connect with a printer, be sure your images ...

Create Connections and Build Your Business Through Networking

Networking is an invaluable, inexpensive, and effective tool for building your business. Despite the digital age, people prefer doing business with companies they know and trust. Networking provides potential clients the connection and trust they need to later make a purchase. According to Oxford Economics USA , 80% of professionals find networking essential to their career success. Because of this, 41% want to network more often. Networking may seem daunting, especially for those not naturally inclined to talk with others, but a little uncomfortableness outweighs the benefits. A First and Lasting Impression Before getting started, it’s important to look the part. First impressions are important. After all, people are constantly judging and forming opinions of others. Once the initial opinion is made, it can be challenging to alter it. Before networking, practice creating a good impression. This means focusing on a professional style of dress, creating good posture, pr...

Inside the Envelope

Search This Blog