Crafting Strong Value Propositions
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If you sell to the corporate marketing, having a strong value proposition is critical. It helps you set up meetings with crazy-busy prospects. And, it helps them understand the value they get from changing from the status quo -- something they're loathe to do. In this presentation, you'll discover how to craft powerful, customer-enticing value propositions that change everything.
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Crafting Strong Value Propositions
- 1. Crafting Powerful Value Propositions JILL KONRATH Author | Speaker | Strategist
- 2. Jill Konrath
- 3. If you don’t have a strong, customer-enticing value proposition, it’s tough to sell.
- 4. But what exactly is a value proposition?
- 5. Lots of people think that a value proposition is information about their company, product or service.
- 7. A value proposition is also not a glowing description of your unique services, passion for excellence or leading-edge technology.
- 9. A value proposition is a clear statement about the outcomes that an individual or an organization can realize from using your product, service or solution.
- 10. The key word is OUTCOMES!
- 11. So let me ask you this: Have you talked to your clients about the results they get when using your offering? You need to! What you learn will help you sell.
- 12. Of course, you don’t have to. But without knowing these outcomes, you’ll have a hard time setting up meetings.
- 13. Because strong value propositions jolt your prospects out of their complacency with the status quo.
- 14. And they pique your prospect’s curiosity about what’s possible.
- 15. Which is important because this is your biggest competitor.
- 16. Especially since making any change is more work for your already stressed out prospect.
- 17. You have to give them a really good reason to take action.
- 18. So what makes a value proposition powerful & effective? The best ones include these 3 components: • Business driver • Movement • Metrics
- 19. A business driver is related to an important objective that your prospects are measured on.
- 20. Here are some examples… • Profitability • Quality • Turnaround time • Returns • Cost of goods sold • Reviews • • Turnover Productivity • New clients • Speed to market • Costs • Revenue • Customer satisfaction
- 21. But don’t say, “We can reduce cost” or “We can increase your sales.” Your prospects have heard that a million times … so you lose credibility.
- 22. Worst of all, it makes you look like another product-pushing peddler.
- 23. The best business drivers are very specific.
- 24. Instead of using broad terms like “sales” in your value proposition, use more specific terms such as: • Sales velocity • Sales conversion rates • Call-to-appointment ratios • High quality leads • Sales per customer • Sales of more profitable products
- 25. See the Difference? Being specific makes you stand out from your competitors. And, you sound like you can make a real impact in an area that your prospects are concerned about.
- 26. Value Propositions Have Movement Too
- 27. Because people only change if a new option is better than the status quo and can positively impact their key business drivers.
- 28. “Movement” words like these belong in value propositions: Eliminate Speed Up Raise Minimize Decrease Cut Shrink Increase Maximize
- 29. Strong Value Propositions Have Metrics Too Dollars/Euros Time frames Percentages
- 30. And the best metrics are also very specific. To your prospects, 19.7% is much more believable than 20%.
- 31. Ready for some examples?
- 32. Typical Value Proposition We create high quality, affordable websites for companies who do business online. Web Marketing Firm
- 33. …and your prospects delete you in a nanosecond.
- 34. Same Company, Stronger Value Proposition Example 1: We help retailers increase their online conversion rates by up to 58%. Example 2: In our work with online retailers, we typically increase average order size between 22 - 37%.
- 35. Typical Value Proposition Our leading edge systems allow you to capture, manage and share paper documents digitally. Document Management Company
- 36. Same Company, Stronger Value Proposition Example 1: We help distributors reduce their order-to-cash processing costs by an average of 67.2% at the same time they increased customer satisfaction. Example 2: In our work with similar- sized firms, they’ve been able to save between $3-5000/month.
- 37. Prospects who hear these stronger value propositions say, Ooh. That’s interesting. I’d like to learn more.
- 38. Which is exactly what you want them to say!
- 39. Their curiosity is piqued. They’re interested in what you can do for them. And, you’ve created a fresh, new opportunity.
- 40. Once you’ve clarified your value proposition, you can use it in your: • Voicemails • Email messages • Conversations • Presentations • Proposals In short, in every customer interaction.
- 41. You’ll be amazed at the difference a strong value proposition makes in your sales results!
- 42. Want to learn how to use your value proposition for maximum impact? Download my Free Value Proposition Tool Kit Now http://bit.ly/vp-kit
Editor's Notes
- Hi there! I’m Jill Konrath. I write and speak about fresh sales strategies that actually work in our fast-paced business environment. Today’s crazy-busy prospects delete you in a nanosecond if your message doesn’t grab their attention. They also stay with the status quo as long as possible because changing just adds more work to their already over-flowing schedule. That’s why value propositions are so important. Strong ones pique curiosity and get customers to take action. Weak ones are the root cause of most sales failure. I hope you get lots of good ideas from this presentation!