Value propositions are a certain art of selling that focus on selling the value a product has to offer to its customers, instead of just selling the product.
Why are value propositions so effective?
Well, put yourself in the shoes of a customer for a moment. A sales person comes to you and starts to boast about the product they want to sell to you. Their product is top tier, next level, certified, voted product of the year, etc. The problem is - you have no idea what it’s supposed to do or how it’s supposed to benefit you.
Now consider instead, a sales person that comes to you selling you a lifetime of efficiency in your work life and an easier, happier lifestyle. Now, you know exactly what you’ll get from buying their product. You might not know exactly what the product does, but you know exactly how you will benefit from it. Sounds better doesn’t it?
So, let’s get you equipped with the necessary tools you need to structure your very own value proposition with these 5 tips.
Try to figure out exactly what makes your product shine. Don’t think of different gadgets. Instead, think about the result that these gadgets produce. Products aren’t created and engineered to just exist and have people stare at them - they’re designed to create an experience. Really free yourself from the technicalities.
For example: Increased efficiency in the workplace, easy-to-use, increased durability, etc. Get creative with adjectives here!
Alright, so now your customer knows that they will complete their work faster - great. Now, go into detail and tell them WHY these benefits, in particular, are so special.
For example - If they get their work done faster, their project will be completed earlier, leading them to be ahead of the competition and maybe even be in close consideration for that promotion they’ve always wanted.
Why isn’t depicting the product benefits and the value for the customer enough? The answer is simple, but overlooked by a lot of people. If you really want to structure your value proposition for success, listen up - people respond better to a radical juxtaposition. It’s a psychological factor. Your customer now knows about the positive effect they will receive from your product, but also by envisioning the scenario without your product in the picture, it will help them realize how much they really need the solution that you’re product offers them.
Really try to help your prospect visualize and understand how and why your product offers will be the solution for their exact pain. The connection should really be cut and clear in the prospect’s mind. This should induce a feeling of “FOMO” - or fear of missing out. They will feel like they are missing out on something when they realize what life will be like without your product.
Describing the solution that your product provides and the pain that your product solves isn’t always enough because it could very well be that you have multiple other competitors offering similar products.
This is your opportunity to show exactly why you’re the only provider to choose. Differentiate yourself. Have all of the special, unique little qualities that your product encompasses on hand - you’ll need these for when you get statements like “ We are already using XYZ” or “ We’ve already heard of various other providers that would like to sell us similar products.” If you need more assistance to handle those objections, check out our objection handling guide here.
Now that you are equipped with the tools to write killer value propositions, get to it! And when you are ready, sign up for Ciara and put them to work on the phone.