Consumers, customers, clients, and prospects are more educated about making their purchasing decisions than ever before.
Be it a big ticket item, such as a home, new car, appliances, or even a vacation, down to everyday purchases to fill the pantry, stock the liquor cabinet, download a new business productivity app or game for sheer amusement; there’s fewer and fewer people who fall into that PT Barnum category of “there’s a sucker born every minute”!
Whether you’re selling a product, service or an experience ask yourself what people are really buying. People are really buying something to make their lives easier, simpler, and happier. Sometimes there are exceptions. Consider the value proposition your dentist communicates daily; mostly he or she is reassuring you that a generally uncomfortable, unpleasant, and often expensive treatment will ultimately have a pleasant outcome. While paying the Dentist for the unpleasantness of root canal therapy and least you’ll feel happier for saving a tooth.
There are no shortages of tripping points that send a potential sale off the rails and out the doors to the competition. Every lost opportunity will undoubtedly leave you asking a myriad of questions from pricing, to pitch, to features, to the quality of the prospect themselves; but how often to you consider the quality of your value proposition. In essence the value proposition is how you create, or fail to create a good first impression.
It’s timeless, and contains a healthy grain of truth, so you really need remember “it’s almost impossible to overcome making a poor first impression”. Ask yourself if you can communicate the value of your company, your product or your service in simple terms, and in 10 words or less. Creating a simple, concise, yet compelling value proposition starts with answering one key question – Why? Why you matter trumps what you do. Why you’re better resonates more deeply than how you do something.
In terms of defining your value proposition Dr. Flint McGlaughlin, Managing Director and CEO of MECLabs, shares some good insights starting with the notion that, “Optimization does not occur on a webpage; optimization occurs in the mind.” Courtesy of Eloqua and Dr. McGluaghlin, here are 6 steps to consider.
- Frame to question
- Review the data
- Craft drafts of your proposition
- Measure the force
- Refine your message
- Take time to test
Start all of your conversations by making a great first impression. Effectively communicating value about every quality of your business will deliver meaningful results, and create significant lasting relationships.
“Anything that just costs money is cheap.”