In order to get people to see why they should buy from you, you need to have a good value proposition. And for many of us, coming up with that is easier said than done.
These slides are from our webinar "How to Build Your Best Value Proposition" where we will go through a step-by-step process that you can use to create your value prop. We will also show you how and when to use your value prop when prospecting which should immediately improve your sales results.
3. The regard that something is
held to deserve; the
importance, worth, or
usefulness of something.
value:
noun
5. Communicating value will help to educate
the prospect on what your product does
and why they might need it
You Will Fall into One of
Two Scenarios
1. The prospect does not know what your product or service does
2. The prospect knows what your product or service does but
does not think they need it
Communicating value will help to educate
why they might need it and build interest
6. Technical Value
• Processes
• Systems
• People
Automation of manual processes
Improve performance
Decrease time to perform work
Improve reliability
Business Value
• Revenue
• Costs
• Services
Improve revenue / market share / close rate
Decrease cost of goods sold / labor cost
Improve delivery of services
Personal Value
• Income
• Career
• Workload
Increased bonuses, commissions
Recognition and promotions
Decreased/increased workload
8. Finding Your Value
Step 1: Identify a product / service, or feature
Product / Service
or Feature
Function Technical Value Business Value Personal Value
Auto inventory
replenishment
9. Finding Your Value
Step 2: Identify what your product does
Product / Service
or Feature
Function Technical Value Business Value Personal Value
Auto inventory
replenishment
Automatically submits
orders to vendors
based on inventory
levels
10. Finding Your Value
Step 3: Identify how that helps from a technical perspective
Product / Service
or Feature
Function Technical Value Business Value Personal Value
Auto inventory
replenishment
Automatically submits
orders to vendors
based on inventory
levels
Decreases time spent
ordering
11. Finding Your Value
Step 4: Identify how that helps from a business perspective
Product / Service
or Feature
Function Technical Value Business Value Personal Value
Auto inventory
replenishment
Automatically submits
orders to vendors
based on inventory
levels
Decreases time spent
ordering
Decreases staff and
labor costs
12. Finding Your Value
Step 5: Identify how that helps from a personal perspective
Product / Service
or Feature
Function Technical Value Business Value Personal Value
Auto inventory
replenishment
Automatically submits
orders to vendors
based on inventory
levels
Decreases time spent
ordering
Decreases staff and
labor costs
Improves work life
balance
13. Finding Your Value
Step 6: Repeat for additional products
Product / Service
or Feature
Function Technical Value Business Value Personal Value
Auto inventory
replenishment
Automatically submits
orders to vendors
based on inventory
levels
Decreases time spent
ordering
Decreases staff and
labor costs
Improves work life
balance
Predictive demand
forecasting
Predicts inventory
needed based on
historical data
Increases ordering
accuracy
Decreases inventory
costs
Improves end of year
bonus
Management
dashboard
Provides visibility
across inventory and
orders
Decreases time
gathering information
Improves decision
making and bottom
line results
Improves promotion
options
14. Finding Your Value
Step 7: Summarize to arrive at your core value
Product / Service
or Feature
Function Technical Value Business Value Personal Value
Auto inventory
replenishment
Automatically submits
orders to vendors
based on inventory
levels
Decreases time spent
ordering
Decreases staff and
labor costs
Improves work life
balance
Predictive demand
forecasting
Predicts inventory
needed based on
historical data
Increases ordering
accuracy
Decreases inventory
costs
Improves end of year
bonus
Management
dashboard
Provides visibility
across inventory and
orders
Decreases time
gathering information
Improves decision
making and bottom
line results
Improves promotion
options
Inventory
management
software
Manages inventory
levels and orders
Improves the ability
to manage inventory
Decreases inventory
and labor cost
Improves
compensation
potential
15. Brainstorming Questions
Technical Value
• Does [your product] help to improve any processes?
• Does [your product] help to make anything work better?
• Does [your product] help to make anything easier?
• Does [your product] help to save time?
• Does [your product] help to make anything more reliable?
• Does [your product] help to reduce the effort, energy, or manpower needed
to do something?
• Does [your product] help to automate anything?
16. Brainstorming Questions
Business Value
• Does [your product] help to decrease any costs?
• Does [your product] help to increase revenue?
• Does [your product] help to improve visibility?
• Does [your product] help to improve improve decision making?
• Does [your product] help to decrease risk?
• Does [your product] help to improve the quality of your customer's services
or products?
• Does [your product] help to improve customer satisfaction?
17. Brainstorming Questions
Personal Value
• Does [your product] help to increase personal income?
• Does [your product] help to decrease personal expenses?
• Does [your product] help to improve the opportunity for recognition?
• Does [your product] help to improve work/life balance in any ways?
• Does [your product] help to decrease stress in any ways?
• Does [your product] help to improve the workplace atmosphere?
19. Short and Sweet
We help [target audience] to [insert technical, business, or personal value].
We help businesses to improve their ability to effectively manage their
inventory levels.
We help businesses to decrease cost of goods sold and administrative
time.
We help VP’s of Operations to hit their quarterly production targets.
20. Connect Technical Value with Business Value
We help [target audience] to [technical value] and this often leads to
[business value].
We help businesses to improve their ability to effectively manage their
inventory levels and this often leads to a decrease in cost of goods sold as
well as administrative time.
We help VP’s of Ops to decrease in cost of goods sold as well as
administrative time and do this by improving their ability to effectively
manage their inventory levels.
21. Connect Technical Value with Personal Value
We help [target audience] to [technical value] and this often leads to
[personal value].
We help VP’s of Ops to improve their ability to effectively manage their
inventory levels and this often leads to them being able to consistently hit
their quarterly production targets.
We help businesses to consistently hit their quarterly production targets
and do this by improving their ability to effectively manage their inventory
levels.
22. Connect Business Value with Personal Value
We help [target audience] to [business value] and this often leads to
[personal value].
We help VP’s of Ops to maximize the production capacity and this often
leads to them being able to consistently hit their quarterly production
targets.
We help businesses to consistently hit their quarterly production targets
and do this by improving their ability to maximize the production capacity.
23. Connect the Product with Value
We provide [insert product] and this helps [target audience] to [insert
technical, business, or personal value].
We provide inventory management software and this helps businesses to
improve their ability to effectively manage inventory levels.
We provide inventory management software and this helps businesses to
decrease their cost of goods sold and decrease administrative time.
We provide inventory management software and this helps VPs of Ops to
consistently hit their production targets.
25. What do you
do?
I work with
small
businesses and
help them
reduce their
inventory costs.
Oh,
interesting.
How do you
do that?
We provide
inventory
management
software that
makes it easy
to establish just
in time
inventory
ordering.
Networking
26. Hi, this is
Martha.
Hi Martha, this is John
from ABC Inc Have I
caught you in the
middle of anything?
I have a
minute. The reason for my
call is that I work with
small businesses and
help them reduce
their inventory costs.
Cold Calling
I am not sure if we
can help you all or not
and that is why I
wanted to ask you a
question or two.
27. Thank you for
calling XYZ
Corp. How may
I direct your
call?
Ms. Wilson
please.
May I ask
what this is in
regards to?
The reason for
my call is that I
work with small
businesses and
help them
reduce their
inventory costs.
Cold Call Objections
28. Leave your
name and
number….
Hello John this is from Sara from ABC Inc.
Purpose for my call is that I work with small
businesses and help them reduce their inventory
costs.
I actually do not know if you are a fit for what we
do and that is why I was calling you with a
question or two.
I will try you again next week. If you would like to
reach me in the meantime, my number is 555-555-
5555.
Thank you and I look forward to talking with you
soon.
Voicemail
29. Hello John,
The reason I am reaching out is that I am with ABC
Inc and we help small businesses to:
• Decrease time spent ordering
• Increase ordering accuracy
• Decrease time gathering information
I am not sure if those are areas that you want to
improve and that is why I am reaching out.
Are you available for a brief 15 to 20 phone
conversation next Tuesday or Thursday morning where
we can learn a little more about how you are doing
things today and share with you how we have helped to
improve sales results and decrease sales staff
turnover?
Email
32. Cold Calling
Objections
Gatekeepers
Sales Messaging
Voicemail
Qualifying
Closing
Sales Process
Rapport
Building Interest
Cold Emailing
Setting Appointments
Building Credibility
Call Cadence
Methodology
Salesperson
Manager
Cold Calling Scripts
Objection Responses
Key Questions
Marketing Tools
Voicemail Scripts
Meeting Scripts
Email Templates
Software Platform
CRM
Email Automation
Resources and
Services
Books
Training Videos
One-on-One Coaching
Sales Consulting
Live Sales Training
Completely
Aligned
2 Part System
33. Cold Calling
Objections
Gatekeepers
Sales Messaging
Voicemail
Qualifying
Closing
Sales Process
Rapport
Building Interest
Cold Emailing
Setting Appointments
Building Credibility
Call Cadence
Methodology
Salesperson
Manager
Cold Calling Scripts
Objection Responses
Key Questions
Marketing Tools
Voicemail Scripts
Meeting Scripts
Email Templates
Software Platform
CRM
Email Automation
Resources and
Services
Books
Training Videos
One-on-One Coaching
Sales Consulting
Live Sales Training
Completely
Aligned
Only Use the Methodology
34. Cold Calling
Objections
Gatekeepers
Sales Messaging
Voicemail
Qualifying
Closing
Sales Process
Rapport
Building Interest
Cold Emailing
Setting Appointments
Building Credibility
Call Cadence
Methodology
Salesperson
Manager
Cold Calling Scripts
Objection Responses
Key Questions
Marketing Tools
Voicemail Scripts
Meeting Scripts
Email Templates
Software Platform
CRM
Email Automation
Resources and
Services
Books
Training Videos
One-on-One Coaching
Sales Consulting
Live Sales Training
Completely
Aligned
Only Use the Software
35. SMART Sales System
Pricing
• Software - $49 per user per month (40% discount for annual subscription)
• Sales Training – No cost on YouTube
• Scripter Walk-Through (2 hour engagement to create your pitch) - $200
For $249, you will get a full library of sales scripts,
emails, and tools
The value that we deliver can typically impact our clients on three different levels.
At the lowest level, we offer technical value. These are the benefits and improvements that we can deliver that make things work better and are realized in the areas of processes, systems, and people. Examples are helping a business to save time, automate certain tasks, improve performance, improve reliability, etc.
As a business begins to realize value at the technical level, those benefits will trickle up and be realized at the business level and be seen as a decrease in costs, increase in revenue, or decrease in risk. For example, if manual processes are able to be automated, that will lead to a decrease in the labor that is needed and as a result, there could be a decrease labor costs and this is an example of realizing business value.
When we help clients to realize business value, that can also continue to trickle up to impact the clients on a personal level and be realized in the form of recognition, compensation, decreased work load, etc. For example, if processes are automated and that decreases costs, that could lead to a promotion for the person that is responsible for that area. Or they could get an extra bonus for the year. Or maybe it means that they no longer have to work over the weekend and are able to spend more time with their family and this is realizing personal value.
So when your clients consume your products and services, they are likely going to realize some sort of value and benefits in these three areas.
As you can see, it can be easy to go down the wrong path when trying to write a good value statement.
To help with that, here is a four step process that well you to build your value statement. It might not build the perfect statement for your situation, but it will at least get you going in the right direction.
Step one is pretty easy and that is just to simply identify the main product or service that you are selling. Or we might want to get a little more granular and list out the actual features of the product that you sell. But for this example, we will just stay at the product level.
For an example, we are currently selling inventory management software.
The next step in the process is to identify the technical benefits that are provided by the product that you have listed out in step one.
If we sell inventory management software, how does that help from a technical standpoint? If the software helps our clients to order more accurately and may be go through the ordering process quicker, than we could say that we help our clients to improve their ability to effectively manage their inventory levels.
This is at the technical level because we are talking about processes and not getting into dollars just yet.
Step three is to identify the business benefits that result from the technical benefits that are delivered.
When we help to clients to improve their ability to effectively manage their inventory levels, what does that lead to?
If there is less inventory sitting around, then help our customers to decreased the cost of goods sold.
We also automate more and make things easier and this can help to decrease administrative time.
Step three is to identify the business benefits that result from the technical benefits that are delivered.
When we help to clients to improve their ability to effectively manage their inventory levels, what does that lead to?
If there is less inventory sitting around, then help our customers to decreased the cost of goods sold.
We also automate more and make things easier and this can help to decrease administrative time.
We have a short but sweet sentence that states either the technical or business value that you offer by just saying “We help businesses to” and then insert either the technical or the business value.
Continuing with the same example, “We help businesses to improve their ability to effectively manage their inventory levels.” for a short but sweet technical value statement.
Or, “We help businesses to decrease cost of goods sold and administrative time.” For using the business value.
When you are on a cold call, sometimes you have to be quick and to the point, and this short value statement sometimes is what fits best.
The next template is one where we connect the technical and business value together in the same sentence.
For example we could say, “We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.” We basically share the technical value and the describe what that can lead to in terms of business results.
Or we can use that same flow but flip it around to say “We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.”
The next template is one where we connect the technical and business value together in the same sentence.
For example we could say, “We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.” We basically share the technical value and the describe what that can lead to in terms of business results.
Or we can use that same flow but flip it around to say “We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.”
The next template is one where we connect the technical and business value together in the same sentence.
For example we could say, “We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.” We basically share the technical value and the describe what that can lead to in terms of business results.
Or we can use that same flow but flip it around to say “We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.”
One thing you may notice in the previous two templates is that there is no mention of the actual product that we sell. There can be some benefit to leaving product info out of the value statement as it can help to build curiosity and try to avoid triggering the prospect’s guardedness.
But in some cases it may make sense to be a little more clear as to what you are talking about from a product standpoint, and there are many sales people out there that feel more comfortable with product info being in there, so here is a template that accomplishes that.
Basically, this one connect the product with the value.
We provide inventory management software and this helps businesses to improve their ability to effectively manage inventory levels.
We provide inventory management software and this helps businesses to decrease their cost of goods sold and decrease administrative time..