Value Proposition »
By Glenn Andrew on Dec 31, 2009 in Business Development | 2 Comments
Value propositions are a powerful means for attracting new business and opportunities to you. Yet they are often overlooked by the very people who could immediately benefit from them. A value proposition is a statement that elaborates the value that you bring to a company, customer, or whoever will benefit from your products and services.
The question you want to answer is “What value do you provide?” Another way of phrasing the question that I’ve heard is “How do you turn your solutions from a ‘so what’ to a ‘must have.’”
I recently came across an article written by Barbara Bix in which she described the six criteria a value proposition must meet:
- Speak to a pressing concern.
- Focus on a single benefit.
- Be specific rather than general.
- Be clear and concise.
- Create a sense of urgency.
- Mitigate the buyer’s risk.
- Good value propositions address a pressing problem.
The process of creating a compelling value proposition can be a challenging one.
First, it’s all about outcomes and results. These outcomes need to be verbalized in a clear and concise manner and that requires a certain level effort.
Second, good value propositions elevate a business above its competition. How do you distinguish yourself from your competitors?
Third, good value propositions help others refer business to your company. Once you share your value proposition with someone, will they think of someone who would benefit from your product and service?
Creating a value proposition for yourself and your company can and will have a positive effect your bottom line.
As an example, my value proposition is as follows:
“What I do is to help clients get clear on their vision, work with them to develop goals and action stems, and provide a level of accountability in achieving those goals.”
I look forward to hearing your value proposition. Take a moment to create one for yourself. Share it with your colleagues and help them develop value propositions for themselves. You will find a synergy from that sharing that will help you further hone your own value proposition. And that’s a real nice side effect!
To read the full article by Barbara Bix, go to http://www.bbmarketingplus.com/articles/article_7_14-2009.html.
Please add your comments below. I look forward to hearing your thoughts. And do share this post with your favorite social media sites.
Glenn Andrew
www.glennandrew.com

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