We are often asked “what is the the thing you see the most that could improve business performance, when talking to companies?”
There are obviously a variety of things that can be improved, but the one that comes up time and time again, in small, medium and large companies, is the Value Proposition. This is a short statement that describes why potential customers should buy your product or services. Sometimes it is referred to as the “elevator pitch” – what do you say if you find yourself in a lift with one of your target customers?
Very often, companies are great at describing what they do, but can struggle to turn this into a compelling story. Even when they actually have one, some companies adopt the “one size fits all” approach and use the same value proposition, regardless of whom they are talking to. For example, The CEO of a prospective customer might be very interested in a service that reduces his people costs by outsourcing his marketing team, but the Sales Director would be worried about a change of service levels to his/her team. In this instance, the value proposition should be modified to reflect the needs of the Sales Director, so it might emphasise the fact that the outsourced marketing team has a broader skillset than the in-house one and will be able to come up with more impactful campaigns, etc.
The key to any good value proposition, is to create one that is fairly short and sweet (couple of paragraphs at the most) and clearly communicates why someone should buy what you are selling. Once you have the high level one, you can then modify it based on the various customer contacts points that you intend to pursue. In other words, all of the contacts that can influence the sale.