You know the value of your company and products – now you have to convince consumers of your worth.
One could say that sales and marketing are similar to dating.
You meet a potential relationship prospect – maybe in a coffee shop, online, party, or somewhere else – and upon meeting, you both have to decide, first at face value, if there is mutual interest. Once the initial meetup happens, how do you decide if he/she is truly “the one”?
Well, ultimately, if you share the same values – the relationship can become a match made in heaven.
Wouldn’t you say that making sure you communicate your value (and vice versa) when dating is basically selling what makes you different from the other comparable, attractive men or women in your area?
What sets you apart from the other fish in the sea?
If you’re in the business of selling (which, as we’ve introduced – all of us kind of are), then you’ve probably heard of value propositions. But do you understand the true value of value propositions?
Value propositions are not a way to brag or fib your way into earning business (no one is attracted to a braggart) – value propositions explain to your potential customers why they should choose you over a competitor, without directly comparing your business to others like yours.
“Once you determine what unique aspects your business provides to your customers, ultimately, it all comes down to what you offer that sets you apart and connects with your potential customers’ values.”
Investopedia has a great definition of what a value proposition can be summarized as: “A business or marketing statement that a company uses to summarize why a consumer should buy a product or use a service. This statement convinces a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings.”
I know – that’s a lot of pressure to communicate all of your value in this one statement. Rest assured, it can be done.
What makes a good value proposition?
What is your mission?
Make sure that the value propositions you’re using with sales-leads match up with your company’s mission statement. Just as in the real-world, it is always best to stay true to yourself. Don’t change just to fit into what other people want.
If you are unsure what your mission statement is – check! It is a great team-building exercise as well as communication within the company to ensure all employees are on the same page with what the business stands for and delivers to its customers.
Once you are clear on your company’s true mission and value without using over-used keywords or meaningless blanket statements, you’re ready to use this great messaging tool to your advantage on sales calls, landing pages, marketing collateral, and more. How can you craft some iconic and beneficial value statements to start using now to attract more customers?
What do you bring to the table?
You have to determine what sets you apart from your competitors. You will always have competition. Even if the other companies your prospects consider may not do exactly what you do, if there is some overlap, you should consider that other business a competitor.
What aspects of your company make you stand out? Make a list. Do you have outstanding customer service? Easy-to-use products? Low prices? Write them down! Remember – at this point in the courtship; it’s about more than just what is on the outside. A flashy marketing ad or website may lure them in, but it’s the true value you deliver that will make them stay and choose you.
After you’ve finished your list of what you think makes you stand out from your competition, get together with your colleagues to compare what you’ve all written and continue brainstorming together until you’ve narrowed down your list to the top few reasons that will make a potential prospect pick you over the other guys.
What do your customers value?
Once you determine what unique aspects your business provides to your customers, ultimately, it all comes down to what you offer that sets you apart and connects with your potential customers’ values.
For example, if you sell luxury cars, then having the lowest prices in town probably isn’t going to be the differentiating factor to set you apart – as your customers are willing to pay for a quality, luxury brand. If you mention in your value statement that you are the only luxury car dealership in the area that has won numerous awards for best customer service five years in a row, now you stand out from the rest.
Every company should have an ideal type of customer in mind for its product or service. It’s not smart to be desperate for anyone who is willing to come your way (in both dating and business – we’ve all made our mistakes!). Make sure your ideal customer type aligns with the values you choose to communicate, and it’ll be a win-win for you both.
Now that you know which points you are going to communicate to your potential prospects, how will you make them truly believe what you are saying? This is where social proof of your value proposition comes into play. As independent as we all like to think we are, most people will choose to do something or buy something if they know that others have it and like it, too.
If your friends tried to set you up on a date with someone who you know nothing about, you probably wouldn’t be too willing, right? But it is once they start listing the great qualities and value of this potential date that you become interested, and finally agree to invest your time to give them a chance. Other people’s opinions (especially from those we trust) do sway our own decisions.
How do you communicate social proof of your company’s worth? Do you have outstanding customer reviews or referrals that back-up the value you speak of? Case studies? Survey results? Awards? Data or years of experience in the industry? This is the time to mention any of this evidence, and bring any of those proof points to the forefront.
Repeat, Repeat, Repeat
Now I’m not telling you to sound like a broken record and to go on and on listing your value propositions, but it is vital to repeat your value statements in many forms over the course of your communication with leads. And again – these don’t have to be in your face, explicit messages. But do make sure they exist and are seen by your consumers on a regular basis. Think landing pages, advertisements, social media postings, phone calls, emails…make sure you communicate your value through all of these channels.
Just like it usually takes more than one date to know if you want to pursue a committed relationship with someone, it will most likely take more than just one touch point with a lead to culminate in a sale. So makes sure that when leads first find you, before they call you, after you speak to them, during their appointment, and every step of the customer journey, you illuminate your value propositions.
Want to see true data on how you’re converting when putting your value propositions in place on phone calls? Start utilizing call tracking and analytics from true human analysts – contact a CallSource representative now.