Developing a value proposition

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It all starts with your value proposition

Whatever you’re selling, and whoever you’re selling it to, it is vital that you have a value proposition to discuss.  So, what is a value proposition, and why is it so flipping important when it comes to sales?

According to the definition on Wikipedia (the hub of all knowledge, apparently)

A value proposition is a promise of value to be delivered and acknowledged and a belief from the customer that value will be appealed and experienced. A value proposition can apply to an entire organization, or parts thereof, or customer accounts, or products or services.

In essence, this comes back to that old salesy question “what’s in it for me” – ie what can you offer to that prospect that will, in some way improve their existence.   Understanding what your product/service does, what benefits it can bring is vital in not only encouraging the prospect to want to continue the conversation with you but also in terms of helping to build your belief in that product/service.   After all, if you don’t believe in it, how is the prospect supposed to?

By understanding the benefits your product/service can bring, you’ll not only be in possession of a stronger introduction but also will be more easily able to handle any questions that arise and effectively deal with any objections, without searching around the recesses of your brain for answers.

A value proposition can often boil down to one of two things

  1. Reducing costs
  2. Improving service/efficiency

So, dig deep, ask yourself lots of questions about the product/service you’re selling – boil it down to one simple sentence (often referred to as your “elevator pitch” – practice it until it sounds natural, using your own terminology and references particular to that industry.   And believe in it!

Prospects don’t like change – hence the amount of “we’re happy with our current supplier” objections that we all undoubtedly experience.   Value can help to drive change.   The greater the value you can bring, the lower the resistance to change.

Ask yourself, what value can I bring and how can I most effectively communicate that.  Keep it simple! And keep it valuable!

And, if you feel this advice would be useful to anyone you know, please share and subscribe – we’d love you to keep in touch!

Happy calling

Dan

Dan Smith 
Inspired Business Development
Unit K9 Cradley Enterprise Centre
Maypole Fields
Cradley
Halesowen
B63 2QB
T:01384 566 078
W: www.inspired-bd.com

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