How to Build Your Best Value Proposition
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In order to get people to see why they should buy from you, you need to have a good value proposition. And for many of us, coming up with that is easier said than done. These slides are from our webinar "How to Build Your Best Value Proposition" where we will go through a step-by-step process that you can use to create your value prop. We will also show you how and when to use your value prop when prospecting which should immediately improve your sales results.
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How to Build Your Best Value Proposition
- 1. How to Build Your Best Value Proposition Michael Halper Founder and CEO SalesScripter
- 2. What is Value Finding Your Value Creating Your Value Prop When to Use a Value Prop
- 3. The regard that something is held to deserve; the importance, worth, or usefulness of something. value: noun
- 5. Communicating value will help to educate the prospect on what your product does and why they might need it You Will Fall into One of Two Scenarios 1. The prospect does not know what your product or service does 2. The prospect knows what your product or service does but does not think they need it Communicating value will help to educate why they might need it and build interest
- 6. Technical Value • Processes • Systems • People Automation of manual processes Improve performance Decrease time to perform work Improve reliability Business Value • Revenue • Costs • Services Improve revenue / market share / close rate Decrease cost of goods sold / labor cost Improve delivery of services Personal Value • Income • Career • Workload Increased bonuses, commissions Recognition and promotions Decreased/increased workload
- 7. What is Value Finding Your Value Creating Your Value Prop When to Use a Value Prop
- 8. Finding Your Value Step 1: Identify a product / service, or feature Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment
- 9. Finding Your Value Step 2: Identify what your product does Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels
- 10. Finding Your Value Step 3: Identify how that helps from a technical perspective Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels Decreases time spent ordering
- 11. Finding Your Value Step 4: Identify how that helps from a business perspective Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels Decreases time spent ordering Decreases staff and labor costs
- 12. Finding Your Value Step 5: Identify how that helps from a personal perspective Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels Decreases time spent ordering Decreases staff and labor costs Improves work life balance
- 13. Finding Your Value Step 6: Repeat for additional products Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels Decreases time spent ordering Decreases staff and labor costs Improves work life balance Predictive demand forecasting Predicts inventory needed based on historical data Increases ordering accuracy Decreases inventory costs Improves end of year bonus Management dashboard Provides visibility across inventory and orders Decreases time gathering information Improves decision making and bottom line results Improves promotion options
- 14. Finding Your Value Step 7: Summarize to arrive at your core value Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels Decreases time spent ordering Decreases staff and labor costs Improves work life balance Predictive demand forecasting Predicts inventory needed based on historical data Increases ordering accuracy Decreases inventory costs Improves end of year bonus Management dashboard Provides visibility across inventory and orders Decreases time gathering information Improves decision making and bottom line results Improves promotion options Inventory management software Manages inventory levels and orders Improves the ability to manage inventory Decreases inventory and labor cost Improves compensation potential
- 15. Brainstorming Questions Technical Value • Does [your product] help to improve any processes? • Does [your product] help to make anything work better? • Does [your product] help to make anything easier? • Does [your product] help to save time? • Does [your product] help to make anything more reliable? • Does [your product] help to reduce the effort, energy, or manpower needed to do something? • Does [your product] help to automate anything?
- 16. Brainstorming Questions Business Value • Does [your product] help to decrease any costs? • Does [your product] help to increase revenue? • Does [your product] help to improve visibility? • Does [your product] help to improve improve decision making? • Does [your product] help to decrease risk? • Does [your product] help to improve the quality of your customer's services or products? • Does [your product] help to improve customer satisfaction?
- 17. Brainstorming Questions Personal Value • Does [your product] help to increase personal income? • Does [your product] help to decrease personal expenses? • Does [your product] help to improve the opportunity for recognition? • Does [your product] help to improve work/life balance in any ways? • Does [your product] help to decrease stress in any ways? • Does [your product] help to improve the workplace atmosphere?
- 18. What is Value Finding Your Value Creating Your Value Prop When to Use a Value Prop
- 19. Short and Sweet We help [target audience] to [insert technical, business, or personal value]. We help businesses to improve their ability to effectively manage their inventory levels. We help businesses to decrease cost of goods sold and administrative time. We help VP’s of Operations to hit their quarterly production targets.
- 20. Connect Technical Value with Business Value We help [target audience] to [technical value] and this often leads to [business value]. We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time. We help VP’s of Ops to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.
- 21. Connect Technical Value with Personal Value We help [target audience] to [technical value] and this often leads to [personal value]. We help VP’s of Ops to improve their ability to effectively manage their inventory levels and this often leads to them being able to consistently hit their quarterly production targets. We help businesses to consistently hit their quarterly production targets and do this by improving their ability to effectively manage their inventory levels.
- 22. Connect Business Value with Personal Value We help [target audience] to [business value] and this often leads to [personal value]. We help VP’s of Ops to maximize the production capacity and this often leads to them being able to consistently hit their quarterly production targets. We help businesses to consistently hit their quarterly production targets and do this by improving their ability to maximize the production capacity.
- 23. Connect the Product with Value We provide [insert product] and this helps [target audience] to [insert technical, business, or personal value]. We provide inventory management software and this helps businesses to improve their ability to effectively manage inventory levels. We provide inventory management software and this helps businesses to decrease their cost of goods sold and decrease administrative time. We provide inventory management software and this helps VPs of Ops to consistently hit their production targets.
- 24. What is Value Finding Your Value Creating Your Value Prop When to Use a Value Prop
- 25. What do you do? I work with small businesses and help them reduce their inventory costs. Oh, interesting. How do you do that? We provide inventory management software that makes it easy to establish just in time inventory ordering. Networking
- 26. Hi, this is Martha. Hi Martha, this is John from ABC Inc Have I caught you in the middle of anything? I have a minute. The reason for my call is that I work with small businesses and help them reduce their inventory costs. Cold Calling I am not sure if we can help you all or not and that is why I wanted to ask you a question or two.
- 27. Thank you for calling XYZ Corp. How may I direct your call? Ms. Wilson please. May I ask what this is in regards to? The reason for my call is that I work with small businesses and help them reduce their inventory costs. Cold Call Objections
- 28. Leave your name and number…. Hello John this is from Sara from ABC Inc. Purpose for my call is that I work with small businesses and help them reduce their inventory costs. I actually do not know if you are a fit for what we do and that is why I was calling you with a question or two. I will try you again next week. If you would like to reach me in the meantime, my number is 555-555- 5555. Thank you and I look forward to talking with you soon. Voicemail
- 29. Hello John, The reason I am reaching out is that I am with ABC Inc and we help small businesses to: • Decrease time spent ordering • Increase ordering accuracy • Decrease time gathering information I am not sure if those are areas that you want to improve and that is why I am reaching out. Are you available for a brief 15 to 20 phone conversation next Tuesday or Thursday morning where we can learn a little more about how you are doing things today and share with you how we have helped to improve sales results and decrease sales staff turnover? Email
- 32. Cold Calling Objections Gatekeepers Sales Messaging Voicemail Qualifying Closing Sales Process Rapport Building Interest Cold Emailing Setting Appointments Building Credibility Call Cadence Methodology Salesperson Manager Cold Calling Scripts Objection Responses Key Questions Marketing Tools Voicemail Scripts Meeting Scripts Email Templates Software Platform CRM Email Automation Resources and Services Books Training Videos One-on-One Coaching Sales Consulting Live Sales Training Completely Aligned 2 Part System
- 33. Cold Calling Objections Gatekeepers Sales Messaging Voicemail Qualifying Closing Sales Process Rapport Building Interest Cold Emailing Setting Appointments Building Credibility Call Cadence Methodology Salesperson Manager Cold Calling Scripts Objection Responses Key Questions Marketing Tools Voicemail Scripts Meeting Scripts Email Templates Software Platform CRM Email Automation Resources and Services Books Training Videos One-on-One Coaching Sales Consulting Live Sales Training Completely Aligned Only Use the Methodology
- 34. Cold Calling Objections Gatekeepers Sales Messaging Voicemail Qualifying Closing Sales Process Rapport Building Interest Cold Emailing Setting Appointments Building Credibility Call Cadence Methodology Salesperson Manager Cold Calling Scripts Objection Responses Key Questions Marketing Tools Voicemail Scripts Meeting Scripts Email Templates Software Platform CRM Email Automation Resources and Services Books Training Videos One-on-One Coaching Sales Consulting Live Sales Training Completely Aligned Only Use the Software
- 35. SMART Sales System Pricing • Software - $49 per user per month (40% discount for annual subscription) • Sales Training – No cost on YouTube • Scripter Walk-Through (2 hour engagement to create your pitch) - $200 For $249, you will get a full library of sales scripts, emails, and tools
- 36. Contact Us Michael Halper Founder and CEO SalesScripter mhalper@salesscripter.com @salesscripter
Notas del editor
- The value that we deliver can typically impact our clients on three different levels. At the lowest level, we offer technical value. These are the benefits and improvements that we can deliver that make things work better and are realized in the areas of processes, systems, and people. Examples are helping a business to save time, automate certain tasks, improve performance, improve reliability, etc. As a business begins to realize value at the technical level, those benefits will trickle up and be realized at the business level and be seen as a decrease in costs, increase in revenue, or decrease in risk. For example, if manual processes are able to be automated, that will lead to a decrease in the labor that is needed and as a result, there could be a decrease labor costs and this is an example of realizing business value. When we help clients to realize business value, that can also continue to trickle up to impact the clients on a personal level and be realized in the form of recognition, compensation, decreased work load, etc. For example, if processes are automated and that decreases costs, that could lead to a promotion for the person that is responsible for that area. Or they could get an extra bonus for the year. Or maybe it means that they no longer have to work over the weekend and are able to spend more time with their family and this is realizing personal value. So when your clients consume your products and services, they are likely going to realize some sort of value and benefits in these three areas.
- As you can see, it can be easy to go down the wrong path when trying to write a good value statement. To help with that, here is a four step process that well you to build your value statement. It might not build the perfect statement for your situation, but it will at least get you going in the right direction. Step one is pretty easy and that is just to simply identify the main product or service that you are selling. Or we might want to get a little more granular and list out the actual features of the product that you sell. But for this example, we will just stay at the product level. For an example, we are currently selling inventory management software.
- The next step in the process is to identify the technical benefits that are provided by the product that you have listed out in step one. If we sell inventory management software, how does that help from a technical standpoint? If the software helps our clients to order more accurately and may be go through the ordering process quicker, than we could say that we help our clients to improve their ability to effectively manage their inventory levels. This is at the technical level because we are talking about processes and not getting into dollars just yet.
- Step three is to identify the business benefits that result from the technical benefits that are delivered. When we help to clients to improve their ability to effectively manage their inventory levels, what does that lead to? If there is less inventory sitting around, then help our customers to decreased the cost of goods sold. We also automate more and make things easier and this can help to decrease administrative time.
- Step three is to identify the business benefits that result from the technical benefits that are delivered. When we help to clients to improve their ability to effectively manage their inventory levels, what does that lead to? If there is less inventory sitting around, then help our customers to decreased the cost of goods sold. We also automate more and make things easier and this can help to decrease administrative time.
- We have a short but sweet sentence that states either the technical or business value that you offer by just saying “We help businesses to” and then insert either the technical or the business value. Continuing with the same example, “We help businesses to improve their ability to effectively manage their inventory levels.” for a short but sweet technical value statement. Or, “We help businesses to decrease cost of goods sold and administrative time.” For using the business value. When you are on a cold call, sometimes you have to be quick and to the point, and this short value statement sometimes is what fits best.
- The next template is one where we connect the technical and business value together in the same sentence. For example we could say, “We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.” We basically share the technical value and the describe what that can lead to in terms of business results. Or we can use that same flow but flip it around to say “We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.”
- The next template is one where we connect the technical and business value together in the same sentence. For example we could say, “We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.” We basically share the technical value and the describe what that can lead to in terms of business results. Or we can use that same flow but flip it around to say “We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.”
- The next template is one where we connect the technical and business value together in the same sentence. For example we could say, “We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.” We basically share the technical value and the describe what that can lead to in terms of business results. Or we can use that same flow but flip it around to say “We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.”
- One thing you may notice in the previous two templates is that there is no mention of the actual product that we sell. There can be some benefit to leaving product info out of the value statement as it can help to build curiosity and try to avoid triggering the prospect’s guardedness. But in some cases it may make sense to be a little more clear as to what you are talking about from a product standpoint, and there are many sales people out there that feel more comfortable with product info being in there, so here is a template that accomplishes that. Basically, this one connect the product with the value. We provide inventory management software and this helps businesses to improve their ability to effectively manage inventory levels. We provide inventory management software and this helps businesses to decrease their cost of goods sold and decrease administrative time..