by Richard McCandless, Regional Director – Scotland & Newcastle
Do you know WHY customers buy from you?
From price, functionality, and quality to customer service and simplicity of the buying process, there are many reasons why people make a purchase. To sell successfully, it’s important to find out what makes your customers or prospects tick.
- What is the value that your product or service provides?
- How does it offer a solution tailored to your ideal client?
- How do you provide an improved offering compared to your competitors?
Communicate the value that you promise to deliver to customers by writing a Value Proposition.
What is a Value Proposition?
A short, concise, and impactful statement that summarises why a customer should use your product or service and defines the value they will receive.
According to a study by Corporate Visions, 74% of buyers choose the company that is the first to add value.
The best value will always win! This is not about being the cheapest. Your value is always determined by the customer. If you have a strong Value Proposition, you have a strong foundation on which to build your business. The Value Proposition should be highly visible on your website – ideally above the fold (before a visitor scrolls down) on the homepage, and on other pages such as ‘About Us’ and your product or service page itself.
Where on earth do I start with writing a Value Proposition?
A compelling Value Proposition is:
- Specific: what are the specific benefits of your product or service?
- Pain-focused: how does your offering address and solve your customer’s problem?
- Exclusive: how does it set you apart from competitors? Is it desirable?
According to Tony Hughes of RSVP Selling, “Your Value Proposition must be focused on specific and tangible benefits for the customer, and directly linked to the resolution of their specific problems or opportunities – the bigger the better.”
Focus on ONE problem
You may feel that your company solves multiple problems for your customers but try to boil it down to one. Which key problem do you think your business is best at solving? Your Value Proposition should state how you aim to address that one problem in a specific way.
The problem should be obvious, and significant, and need to be solved urgently. The customer may lack the tools, expertise, and knowledge to deal with the problem… so they need your help. Think of it as you being the firefighter dousing the flame! Just make sure you are able to deliver on your promise to solve the problem.
Target ONE buyer
Don’t try and address everyone! People look for a specialist to tackle their problems as they believe that they will have the expertise to do so. Have a buyer persona in mind and address your Value Proposition directly to them.
WHY should a prospective buyer choose you?
People will often have 4-5 different options in mind before they reach a final decision. Think about what benefits your business brings to the table.
Have a look through testimonials and feedback and pick out the praise you’ve received. For instance, staff professionalism or speedy customer service. Make a note of particular keywords and phrases that really set you apart. From there, it should become even clearer which problem your company is most efficient at tackling.
How do you solve the problem in a unique way?
What innovative technology and transformative methods do you use? Offer solutions that buyers can trust.
Research competitors to learn how they do things – so that you can explain how you have an edge over them.
You are the one for the job and no one else can do it better!
Adopt a BENEFIT-LED approach
Instead of focusing on the tools and techniques, you use or the technical features of your products, highlight how your offering will make a difference and improve the life of your buyer. What positive outcomes and changes will the customer experience as a result of buying from your company or working with you?
For example, rather than stating that a laptop has a split-screen function to view multiple pages and programs at once, emphasize how it will enable the customer to work more productively and at a faster pace.
Provide MEASURABLE proof
The proof is in the pudding as they say! By sharing glowing reviews, case studies, and statistics, you can prove that you know what you’re talking about. If you don’t have any prior work or positive results to showcase just yet, mention the expertise of your team or why the company was started and its core purpose.
And finally, as it says on the tin…
Avoid the fluff and keep it simple and concise!
Value Propositions aren’t slogans so don’t overhype what you do or overload it with buzzwords.
So, there you have it, everything you need to construct a solid Value Proposition that speaks to your ideal customer and sticks in their mind.
Contact me if you’d like further support with putting together a top-notch Value Proposition.
