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Thoughtful Thursdays – The value proposition

Warren Buffet is credited for saying “Price is what you pay, value is what you get.”

Today’s Thoughtful Thursdays sales topic is about the value proposition.

Value is perceived, based on information that is available to your prospect. When the perceived value exceeds what the prospect is willing and able to pay, there is chance that they will consider your product and/or service offering.

Whenever possible, quantify the value. It facilitates the decision making process for your prospect.

So how do you come up with your value proposition?

  1. It begins with writing down what you do. List the products and services that you are offering and the problems they can solve. Call these the features.
  2. In a second column, describe how each feature can help your prospect
  3. In a third column, for each benefit, answer the question “So what?” From the point of view of your prospect, “What’s in it for me?”
  4. You will now be getting closer to describing the value that your products and services bring to the table. This will be a key piece of your promotional collateral and reinforced in your sales activities.

Remember that you may not be your customer and be objective. An effective value proposition encourages your prospect to consider you as a potential source over a competitor.

Also remember that your products and services may be targeted to more than one personality type and that different people will value different benefits. Having more than one value proposition will help promote to more people within your target market.

Good selling,
Richard

Have a question about sales? Contact Sakanashi and Associates Inc. and I will respond.


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