Today’s Sales Tip – Best Value Proposition Tips

Today’s Sales Tip – Best Value Proposition Tips

Before we get into tips on creating Value Propositions (Value Prop) we need to know what a value prop is. Google defines a value proposition as:

noun: (in marketing) an innovation, service, or feature intended to make a company or product attractive to customers.
The great thing about value props is you know a good one when you hear one, the bad thing is you know a bad one when you hear it. So, let’s focus on some tips to create great value propositions:
Firstly, value propositions focus on the customer and what they get.
Second, don’t focus on what you do, how your product or service works or how great your product or service is.
Third, ask yourself am I describing the drill or am I describing how the hole the drill creates benefits the client?
The Best Value Propositions will be actual, delivered results and these will primarily be focused on the following areas:

Make Me Money
– increase rev
– decrease costs
– retain clients
– get my people to field faster

Save Me Time
– reduce turnover
– reduce my production cycle
– get product to market faster
– make my workforce safer

Now where to you get these actual results? You’ll need to ask your clients that have already benefited from your product or service. This can be a long shot and you better have great rapport to ask for this.

What do you do if your clients won’t give you actual results?
– quote industry research
– dig deeper on your sales pitch that turned your prospect to client
–  estimate how you help revenue for your clients
– use empathy and ask ‘what’s in it for me?’

This is not an exhaustive list of activities to generate the Best Value Proposition, but this will get you started and will help frame a conversation with your colleagues and clients to get to the root of what you value your bring. Remember work at it and refine your Value Proposition until you get the reaction from your prospects you want when you state your Value Proposition. This will be a subject that we dive deeper into later.