If you have been into sales of a product in recent years, you would have certainly noticed some changes: complex and longer sales cycles, more buyers involved in your business decision-making process, and more customers coming to your organization with an exact and clear idea of what they want.
As buying cycles become more complex, more than ever, it is essential to have a compelling value proposition that connects points to potential buyers and clearly illustrates how your solution solves their problem. But it’s easier said than done, as recent research shows that 83% of marketers have no idea how to develop or implement a customer value proposition.
A good value proposition will quickly summarize why a consumer should buy your product or service.
If you need to create a good and compelling value proposition, consider doing the following things below:
Explain Why You Are Unique
Don’t make your customer read pages of website copy just to figure out why your product is different than all of the other products out there. Do you know what your competitors are saying? Explain why your business is positioned uniquely to solve all their problem. Get them to envision what it would be like after using your product. And remember, “uniqueness” isn’t useful to your potential buyers if your product isn’t relevant.
Explain the Problem Your Organization Solves
Think about your prospects and what they really want to achieve. Articulate the problem and challenges facing your customers using language that resonates with them. Avoid using tons of industry jargon – this will only confuse the message you are trying to convey. Start by putting yourself into your possible client’s shoes. Don’t assume your customer knows what they want. It’s your job to explain their problem (in simple terms) and the dangers involved when your customer chooses not to solve the problem.
Explain How Your Business Will Solve Your Customers problem
Think about how your solution improves the lives of your customers. It can be helpful to write a before and after scenario. Describing the benefits a potential customer receives when using your product. Many organizations are tempted to throw in a bunch of product features at this stage, which entirely lacks the point. Your customer does not buy your product because of a feature that it has; they are buying your product because they have a problem that they are trying to fix with your product. The more you communicate the benefits and outcomes that your product offers, the more likely you’ll make sales.
Get to Know Who You Are Talking To
It all starts with getting a clear picture of your ideal customer. Try and know who are they, how they make decisions, what they care about, and what their likes/ dislikes are. Knowing and understanding your prospect will help you create quality content that will be meaningful to them. The more you get to know your prospect, the easier it will be to get them engaged with your content.
Your value proposition is not just a spongy marketing messaging. You should be able to justify the value you provide and provide proof to back your claims up. It is better to demonstrate the ROI of your solution, using real case studies or customer testimonials. For example, suppose you are targeting a VP of Marketing to offer them client analysis software. Based on your customer research, you know their biggest problem is to create efficiency within their department and generate more qualified leads for their sales team. Thus, you can write your value as “On average, the Acme analytics solution increases productivity within your marketing department by 20% while increasing the # of qualified sales leads by 40% – all within the first three months.” People will pay more for your product if you can show proof of how it will make their lives better.