What is a Value Proposition?

What is a value proposition for things number one it’s short number two it’s specific number three it’s in the customers language and number four it passes the seat-of-the-pants test a value proposition is a crystal-clear statement of how your product or service solves a customer’s problem delivers some benefits and improves their situation all wrapped up and presented in a simple compelling way that moves a prospective customer to take action and engage in further discussions with you now let’s talk about the four characteristics of a value proposition number one it’s short if you go to most companies websites especially technology companies you will hear something that sounds like this we provide enterprise class scalable best-of-breed solutions that deliver cross entity ROI due to high productivity output blah blah blah which is absolutely nothing you’ve lost people first of all in the first five words second of all you’re using techno Latin which is terrible which violates one of our other rules it’s got to be in the customers language no one talks like that why would you next it’s got to be specific how does this relate to me providing enterprise class blah blah blah who cares what do you do we save people time we help them sleep better at night and we help them reduce the amount of conflict of people on the staff from their schedules okay great I can understand that next back to the customer language too many firms use their own version of techno latin techno latin is the language that we speak to describe our product inside the company that no one else in the known world uses to talk about anything and it includes those best-of-breed enterprise-class blah blah blah statements which mean absolutely nothing to customers what you’ve got to do when you build your value proposition is you’ve got to get inside your customers head and you got to interview them and you’ve got to record that conversation because they’re going to tell you things in that conversation that you never thought I just had a conversation with somebody who was visiting a customer he brought four of their clients into the room and all four of them told him different reasons for why they used the product then his client had explained that’s reality customers describe what you have what you offer and what you do in a completely different way than you do finally passing the seat-of-the-pants test the seat-of-the-pants test is nothing more complicated than this if someone sits up higher in their chair and goes you know what I would that’s what I’ve been looking for I want to get it how do I buy it you know you have a killer value proposition if you don’t you need to stay or go back to the drawing board and keep working on your value proposition

As found on Youtube

(Visited 3 times, 1 visits today)

About The Author

You Might Be Interested In