Your company
is great at developing new products and services, but is it equally adept at
positioning value? Are sales and marketing in synch on articulating that value?
Quite often the answer to these questions is no. The simple exercise of creating
value propositions many times is ignored. The result is a fragmented approach
to selling, one that removes value from the discussion.
Without
value, companies are reduced to selling features, which doesn’t differentiate
the company or its products and services from all others in the space.
Selling your
value is a four-step process that begins with understanding your customers’ needs
and problems. The first question to ask is: what is the need my customers have
for the product or service my company markets? This answer is likely a simple
sentence or two.
Next, ask
what are the problems clients face in meeting this need. This will be a bit
longer list. Answers may include a lack of: expertise, time, costs, systems, tools,
space, etc.
The third
step is detailing your company’s solution that helps customers overcome these
problems to meet the need. Here’s where you list those features and benefits to
begin building your case.
Finally, and
most important, list your company’s differentiation points. How does your company,
product/service differ from all others in the marketplace? Points may include expert
staff, warranty, quality, advanced systems, better ingredients, production
process, facilities, longevity, and certifications, anything that enables you to
carve out a unique space in the industry. This is the section that helps
companies elevate beyond just selling their features.
Work,
however, is not done once the value proposition document is completed and
vetted past subject matter experts. It must become a cornerstone piece, meaning
sales and all customer-facing departments should be trained on it. Marketing
must use it as a guide for all advertising, campaigns, collateral, sales tools,
website messaging, and content marketing initiatives.
Designing a
strategy around value propositions unites all players in the business and
ensures everyone is speaking from the same script. While tactics may vary, the
messaging remains consistent. Companies that solve customers’ problems and sell
their value are far better positioned than those simply pushing a product or
service.
