|
August 2011
Newsletter
A participant in one of my corporate workshops on business development was skeptical about value propositions. She felt that they are too "indirect" and "flowery."
You don't have to be flowery, but you don't want to miss out on the advantages of a good value proposition. Read on to learn how they help both you AND your listener as well as how to create one that you actually feel comfortable saying.
Are You Missing Out on the Benefits of A Good Value Proposition?
Whether you want to grow a business, find donors for a non-profit, or just have lively conversations with new people, a value proposition is important.
A value proposition is a short, interesting statement that describes how you help others. People care more when you describe the outcomes you provide (better customer service, improved sales, preventing people from spending time in jail) instead of your methodology or profession (consultant, sales trainer, trial lawyer).
Value propositions help people answer the key questions to grow your business:
- Is this topic so interesting that I want to know more?
- Do I have a need for this now?
- Will I need this in the future?
- Does someone I know need this and should I make a referral?
Here's what you lose without a good value proposition:
- Interest: Hearing "I sell insurance" makes people tune out. They think, "I know what that is. I don't need any. Next topic, PLEASE."This applies to your profession too. Focusing on value starts a conversation, which builds relationships.
- A Qualifying Tool: If you focus on benefits, people can qualify themselves because they quickly know if they have a need. You help them by solving their problem faster.
- Referrals: When you clearly express how you help others, your listeners know if they can refer you to others. Later, when someone expresses a need, they will remember you.
You don't have to use a good value proposition. But, you'll miss out on an easy way to create interest in your company, qualify potential prospects and generate referrals if you don't. Read on to create a value proposition for every situation that you'll feel comfortable using.
Three Ways to Create a Value Proposition For Every Situation (And Feel Comfortable Using It)
Your value proposition describes how you help your clients (or the community you serve, if you’re a non-profit). You use it when networking and to start a conversation when asked what you do.
What you say will depend on several factors:
- The context of the meeting: Are you at a leisurely networking event or greeting someone as they go down a receiving line?
- Your listener. Is this a person in your field who understands what you do? Does she know you well or are you a stranger?
- The perception of your industry. Are people receptive, apprehensive, well informed or confused about your services?
- Your objective: Do you want to qualify the listener for business opportunities, network for referrals or just make polite conversation?
Here are three strategies to write a value proposition for every situation.
1. Describe what you do:
Name your profession AND describe your specialty or what makes you unique.
I’m a healthcare attorney and I specialize in certificate of need issues.
Or, if you’re feeling more expansive:
I’m a healthcare attorney specializing in helping hospitals with everything from compliance issues, to certificate of need requests to labor relations.
Or, if you focus on a narrow niche, you can describe it:
I’m a financial planner and I help individuals with a net worth of over $10 million to protect and grow their investments.
2. Focus on the clients you serve:
Use the work that you do with your clients to demonstrate your expertise and show how you add value. (You can do this with or without naming your profession.)
I help companies like ACME Manufacturing, ABC Corporation and U.S. widgets expand to new markets and increase sales.
3. Describe the pain that you solve or when people need to hire you.
The main problem with only telling people your profession is that it presumes they know enough to know if they need you. Make sure they do.
I’m an executive speech coach. People call me when they want to wow an audience - whether it’s speaking at a conference, giving an important sales presentation or handling the media.
I’m a business consultant. When companies are feeling frustrated that they aren’t able to grow as fast as they want or they need help increasing sales, they call me.
These are just a few of the ways to use a value proposition in conversation. No matter which strategy you use, make sure that it works for you. What you say will vary depending on the circumstances. But the one thing that won’t change is that people will be more interested when you focus on value than when you describe yourself or your company like a commodity.
From the Blog
Related Articles
Subscribe to our newsletter.
Return to the
Resources
Page
© 2011 Chakisse Newton. All Rights Reserved.
|
