Monday, June 06, 2011

Value is What They Really Want

from my email:

Daily Sales Tip: Creating a Value Proposition

To develop a winning value proposition, first think about why customers buy. These reasons typically fall into three buckets --we call these the three legs of the value proposition stool:

1. Resonate: Resonance is all about cutting through the never-ending chatter of the marketplace and speaking to prospect needs and wants. A buyer must quickly understand how to fit you into the "how can they help me" bucket or they move on. You have but one chance to capture someone's attention, so avoid describing what you do or the tasks you perform. To resonate, make it all about them, and speak to the needs of the marketplace. Be straightforward, clear, and concise. It's not time to get cute with clever language as you want to be quickly understood.

2. Differentiate: You want buyers to see you as the best possible option in your space. Your area of distinction may be many things: your products and services, customer experiences, operations, point of view, or even the way you are structured. As you work to distinguish yourself, be sure to position yourself as the best possible resource for solving the prospect's need. This may lead to different areas of distinction for different prospects, so don't think in terms of just one differentiator. Think of the prospect first and how what you do and how you do it benefits them.

3. Substantiate: You made the claim; now it's time to show your cards and prove you're not bluffing. Prospects are inherently skeptical, so walk them through a case study, show them research you've published, schedule a demonstration, or discuss likely results based on work you've done with similar customers. Proof mitigates risk and erases skepticism, two major obstacles in any sale.

Source: Bob Croston, Vice President and Principal Consultant at RAIN Group

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