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The Value of the Value Proposition!

by Todd Cohen

Do you know what your value proposition is? Do you understand what impact a well-crafted and crisply delivered value proposition can have on your pipeline? If you are not sure, let me help you understand first what a value proposition is and then how to best use the value proposition for what you are selling!

A value proposition is a clear and concise statement that articulates the value of your product to a client, prospect or anyone who asks! A great value proposition is short and sweet and makes the point about what your product or service does for the client. It is not a recitation of features! Many sales reps think they are giving the right value proposition by quickly telling every feature the product has. The best sales professionals use a well crafted value proposition as a powerful sales tool and one that stimulates conversation and creates interest in the client’s mind.

Here are a few additional thoughts on creating a great value proposition:

• A great value proposition is a great competitive differentiator.
• A great value proposition can create valuable leads and referrals because it resonates with anyone, which helps people help you to network.
• A great value proposition can help improve the efficiency of the sales organization because everyone is saying the same thing!
• A great value proposition uses action words and has quantitative elements to it.
• A great value proposition creates clarity and understanding and help open doors to the right people.

A great sales professional delivers their value proposition with passion, conviction and belief! Further to my point, everyone in the company needs to be able to deliver the value proposition in the same way. Everyone is in sales!

Conversely, here are a few things to avoid in creating a value proposition:

• Over emphasizing the features of a product.
• Using vague language or vastly overused terminology.
• Not using enough action words to have a meaningful impact.
• Not using quantitative elements.
• Missing client input that does not incorporate what is important to a client.

Value propositions are sometimes referred to as an "elevator speech" and this is partially correct. I tend to think of an elevator speech as an opportunity to talk about what you do for a living- your personal value proposition if you will. In this case I want to make sure you are being a great sales professional by being able to create and articulate the value proposition of what you sell. Doing this right catches the ears and hearts of potential clients and hopefully will lead to more leads and CLOSED business!

As always, please let me know what you think!

Good Selling!

-Todd

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