Crafting Strong Value Propositions

Crafting PowerfulValue Propositions JILL KONRATH Author | Speaker | Strategist

Jill Konrath

If you don’t have a strong, customer-enticing valueproposition, it’s tough to sell.

But whatexactly isa valueproposition?

Lots of people think that a valueproposition is information about their company, product or service.

That’sboring!

A value proposition is also not aglowing description of your uniqueservices, passion for excellence or leading-edge technology.

That’s ayawner too!

A value propositionis a clear statementabout the outcomesthat an individual oran organization canrealize from usingyour product,service or solution.

The key word isOUTCOMES!

So let me ask you this:Have you talked to your clientsabout the results they get when using your offering? You need to! What you learn will help you sell.

Of course, youdon’t have to.But withoutknowing theseoutcomes, you’llhave a hardtime setting upmeetings.

Because strongvalue propositionsjolt your prospectsout of theircomplacency withthe status quo.

And they piqueyour prospect’scuriosity aboutwhat’s possible.

Which is importantbecause this is yourbiggest competitor.

Especially since making any change is more work for youralready stressed out prospect.

You haveto give thema really goodreason totake action.

So what makesa value propositionpowerful & effective?The best ones includethese 3 components: • Business driver • Movement • Metrics

A business driver is related toan important objective that your prospects are measured on.

Here are some examples…• Profitability • Quality• Turnaround time • Returns• Cost of goods sold • Reviews• • Turnover Productivity • New clients• Speed to market • Costs• Revenue• Customer satisfaction

But don’t say, “We canreduce cost” or “We can increase your sales.” Your prospects haveheard that a million times… so you lose credibility.

Worst of all, itmakes you look like anotherproduct-pushing peddler.

The best business drivers are very specific.

Instead of using broad terms like“sales” in your value proposition,use more specific terms such as:• Sales velocity• Sales conversion rates• Call-to-appointment ratios• High quality leads• Sales per customer• Sales of more profitable products

See theDifference?Being specific makesyou stand out fromyour competitors.And, you sound likeyou can make a realimpact in an area thatyour prospects areconcerned about.

Value Propositions Have Movement Too

Because people onlychange if a new option isbetter than the status quoand can positively impacttheir key business drivers.

“Movement” words like thesebelong in value propositions:Eliminate Speed Up RaiseMinimize Decrease Cut Shrink Increase Maximize

Strong Value Propositions Have Metrics TooDollars/Euros Time frames Percentages

And the bestmetrics are alsovery specific.To your prospects,19.7% is muchmore believablethan 20%.

Ready for some examples?

Typical Value PropositionWe create high quality, affordablewebsites for companies who dobusiness online. Web Marketing Firm

…and your prospectsdelete you in a nanosecond.

Same Company,Stronger Value PropositionExample 1: We help retailersincrease their online conversionrates by up to 58%.Example 2: In our work withonline retailers, we typicallyincrease average order sizebetween 22 - 37%.

Typical Value PropositionOur leading edge systems allow you tocapture, manage and share paperdocuments digitally. Document Management Company

Same Company,Stronger Value PropositionExample 1: We help distributors reducetheir order-to-cash processing costs byan average of 67.2% at the same timethey increased customer satisfaction.Example 2: In our work with similar-sized firms, they’ve been able to savebetween $3-5000/month.

Prospects who hear thesestronger value propositions say, Ooh. That’s interesting. I’d like to learn more.

Which is exactly whatyou want them to say!

Their curiosity is piqued. They’re interested in whatyou can do for them. And, you’vecreated a fresh, new opportunity.

Once you’ve clarified your valueproposition, you can use it in your: • Voicemails • Email messages • Conversations • Presentations • ProposalsIn short, in every customerinteraction.

You’ll beamazed at thedifferencea strong valuepropositionmakes in yoursales results!

Want to learn how to useyour value proposition formaximum impact? Download my Free Value Proposition Tool Kit Now http://bit.ly/vp-kit

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Crafting Strong Value Propositions

by Jill Konrath on Jul 06, 2012

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