“What do you do?”
Being one of the simplest questions, it only comes out like an exactly same canned monologue for everyone in most of the cases.
“It’s never about the services (laying the bricks). It’s more about the outcome (building the cathedral.)”
Doing business essentially needs articulating the value of what we do, and promise of that value to be delivered to a potential customer. A clear motive of a value proposition is to present a blueprint of concrete reasons a prospect should buy a product or use a service from you. A value proposition is one of the most important conversion factors and unfortunately, 54% of the companies do nothing to optimize it that kills conversions and sales.
How to Develop a Compelling Value Proposition:
What happens when you don’t follow anyone of the three value proposition rules?
Fallout #1- You offer weak resonance and end up getting buyers saying “I don’t need you”
Fallout #2- They find you easy to substitute and start negotiating on pricing!
Fallout #3- You may bloat up your propositions and customers may take you too risky to work with.
So, while developing a VALUE proposition, keep in mind 4 Ps:
Pain – understand the prospect’s pain points
Proposition – propose your solutions to address those pain points
Proof– prove your claims
Positive Outcomes – highlight positive outcomes as a result of your proposition