It’s never been more important than now to be able to clearly explain why customers should buy from you rather than your competitors.
The focus on price has made it so competitive. A lot of companies already have their VP, but maybe haven’t updated them recently. Meantime, the world and the way their customers do business has changed beyond recognition as a result of the last few crazy years.
5 Steps to a Compelling Value Proposition
To inspire your customers to buy from you and set you apart from your competitors.
Ask – your customers to tell you why they buy from you
One of the best ways to identify why people buy from you is to ask them! We use a VP questionnaire designed to get under the skin of what’s important to your customers. What do you do that they really value? I recommend your sales team do it with their customers. Firstly, it will provide invaluable feedback for your VP. Secondly it helps build stronger customer relationships. Thirdly, it’s a great way to gather opportunities for repeat business, and deal with any problems head on.
Harness – the power of your people to differentiate you from the competition
We find that when we involve the whole business as the second step that you get a wealth of information from every level of the business. Sometimes the business leaders are unaware. Yet here’s where you can find the key differentiators that set the business apart from its competitors. Why customers choose it over its rivals.
Design – Your Value Proposition to make you different rather than better
Next steps are to draw out the key themes from the feedback. Then complete them to produce a really creative, yet practical and commercially focused, VP that’s deliverable across the business from sales to operations.
Test – Communicate with customers to check you’ve nailed it
In our experience, sharing the findings of your research with your customers will help test and hone your VP, ensuring it delivers what the market wants. Plus it reinforces the high value you place on your customers’ opinions, building loyalty and giving them that all-important feeling of ownership of your business.
Activate – Train your sales team to bring your VP to life
Once we’ve helped a business define a VP that meets its customers’ needs and desires, the work doesn’t stop there. Then it’s on to training the sales team to deliver it in a consistent and compelling way. We use Simon Sinek’s Why | How | What approach. We find using a mix of learning techniques, including workshops, allows the team to practice delivering the VP across various real-life scenarios. Then it’s time to unleash the new VP on the market!
Your value proposition should firstly be about what makes you different. Secondly, it should be compelling and resonate not only right across the business, but also with your market. Thirdly, getting your staff and customers involved ensures that your VP accurately reflects your business and your audience. Remember to keep the communication channels open to ensure your VP changes with your company and your market.